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In 2016, Honest Buildings Saved Owners Over $100 Million

Bringing new technology into your company requires thoughtful deliberation and a true understanding of the system's return on investment. In order to uncover the value of the Honest Buildings platform, we surveyed more than 60 owners using Honest Buildings in Q4 2016. They reported the following results from using Honest Buildings:

An average 5% reduction on project costs, with as much as 15% reduction for some owners.
An average 5% reduction in time to project completion, with some owners seeing as high as 20% reduction.
An average of 9 hours saved per project, with up to 25% reduction in time spent on administrative tasks.

As your team considers using Honest Buildings to bring increased profitability and efficiency to your project management and procurement processes, hear from other owners below for specific examples of how our platform creates value.

Reduce overall project costs

Owners using Honest buildings Report An average 5% reduction on project costs, with up to 15% reduction for some owners.

"My team recently used the Honest Buildings platform for a building renovation project in Orange County. The general contractor who estimated the project projected the cost to be between $65 and $70 PSF. I knew from previous projects that estimate was off. I used the Honest Buildings platform to go line-by-line through our bid with a new general contractor, and with that visibility we were able to identify an extra $1.50 PSF or 4% in savings for the project."

Jim Louis, Principal, Avison Young | Read more

"Honest Buildings easily reduced project costs by 5 - 15% based on improved visibility and transparency into both the bid process and project progression. The delta between bid cost and final cost was a lot closer on projects that went through Honest Buildings."

Michael Milstein, Partner, Milstein Properties | Read more

 

Protect top line revenue

OWNERS USING HONEST BUILDINGS report an average 5% reduction in time to project completion, with some owners seeing as much as a 20% reduction.

"Utilizing Honest Buildings for the bidding and tracking of each project we have begun to see up to a 20% reduction in time to build out the spaces, which gives us considerable competitive advantage in securing tenants at our assets."

Michael Fransen, Senior Vice President, Managing Director, Parkway Inc. | Read more

“With the platform in place, we have been able to increase revenue by delivering projects more quickly while simultaneously driving down costs by reducing change orders through more coordinated communication."

Michael Rudin, Vice President, Rudin Management | Read more

Make project teams happier

OWNERS USING HONEST BUILDINGS report an average of 9 hours saved per project, with up to 25% reduction in time spent on administrative tasks.

"We love having one centralized system through which we run procurement, receive daily updates and access data on the costs and status of our construction and capital projects. Honest Buildings is giving our team members over 25% of their week back to recapture and focus on the aspects of the job that they love instead of worrying about administrative work."

Andrew Gutman, President, NAI Farbman | Read more

"The ROI we see is significant as the software makes my job and those of my managers a lot easier. Using Honest Buildings frees me up from shuffling too many Excel documents and gives me time to focus on revenue creation for each of the assets."

Marc Dober, Vice President of Asset Management, Lightstone | Read more

 

Increase asset value

and increase returns for investors by enabling teams to make better decisions on each project, future acquisitions, portfolio management, and asset management by leveraging historical data about pricing and performance.

"We have been able to utilize the improved visibility into our project costs to create better assumptions and underwrite assets based on trend lines for each asset. Leveraging Honest Buildings helps us have a flexible operating model that makes us a more nimble organization."

Jack Gregoire, Vice President, Director of Operations, Parkway Inc. | Read more

"Having access to our historical job cost information in Honest Buildings has been extremely valuable in that we’re able to pull up the costs, vendors and details about all of our past projects to use going forward to predict pricing for budgeting."

Dan Dilmanian, Director of Asset Management, George Comfort & Sons | Read more
Learn more about our integrations

Learn more about Honest Buildings