Getting a competitive advantage in the market

Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms.

Context

Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. They provide a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to occupiers, owners and developers of real estate on a local, regional and national level.

Faced with rapidly accelerating growth both in new clients and service coverage, and responsible for client real estate spend, NGKF found itself limited by their existing supplier management systems.

Understanding that effective supplier management is the foundation of the services they provide, the business strategy team at NGKF were seeking a flexible, centralized supplier management solution that would allow it to consolidate disparate supplier information, leverage that data to lower costs, accurately account for spend to clients, and provide a competitive advantage in the market.

Challenges

Process harmonization

With the breadth of service NGKF provides comes the responsibility to manage thousands of supplier relationships across hundreds of discreet clients and locations. A review of processes found that each location had their own set of often manual, inconsistent supplier engagement and management policies. Supplier data lacked consistency and accuracy, and poor supplier visibility led to duplication and difficulty in leveraging spend to reduce costs.

Risk and compliance

With a growing focus in the marketplace on supplier risk and compliance, NGKF found it increasingly important to demonstrate supplier regulatory and program compliance. Risk and compliance vetting needed to be consistent, with a common, centralized collection and management of compliance documents.

Our business model rests on a foundation of effective supplier management. Our clients demand that we drive down costs while providing complete accountability and transparency into supplier performance and compliance across complex services around the world.”

The Solution

Centralized Supplier Management

NGKF deployed a common set of supplier management best practices across all clients and locations but also allowed for configurability around local requirements, while still maintaining proper controls and accountability throughout the system.

Efficiency, Lower Costs & Improved Communication

A single self-­service supplier portal to provide significant process efficiencies, add new supplier communication capabilities and lower their overall cost to deliver.

Supplier on-­boarding is now an automated, workflow-­ driven process that allows suppliers to take ownership of their information, while providing for independent data validation as required. Compliance documents are gathered and tracked for renewals by the system, with alerts and triggers to help supplier managers focus on exceptions.

Integration & Business Intelligence

With HICX, NGKF were able to integrate with over 90 instances of ERP, CMMS, and accounting systems, reducing errors with a single source of supplier truth. And NGKF is leveraging that truth to drive business intelligence analysis and reporting to drive down costs and find new areas of opportunity.

Benefits

Competitive Advantage

With a centralized view of all suppliers, account teams can now immediately respond to questions about existing supplier coverage and the impact on deployment time. The result is confidence in NGKF’s ability to deliver supplier accountability, while reducing on-­boarding time and costs.

HICX is a significant competitive advantage for NGKF in the marketplace. By combining industry-­leading commercial real estate management strategies and services with best in class supplier management capabilities, we have crafted an unbeatable value proposition. HICX not only drives operational best practices and savings, but helps enable strategic market growth.”

-­ Roger Maris, Senior Vice President, Business Strategy

With configurable data models and workflows, a centralized single source of supplier truth, and simple supplier self-­service HICX is helping NGKF dominate its markets. And as a cloud-­based SaaS offering, HICX has been fast to deploy, fast to deliver benefits and low in total cost of ownership.

HICX has allowed us to consolidate and centrally manage supplier information, providing a single 3600 view of supplier relationships, reducing costs and providing superior competitive advantage in a highly competitive industry.”

-­ Roger Maris, Senior Vice President, Business Strategy
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