NEW YORK CITY—“I think embracing technology like Honest Buildings and allowing it to do our jobs more efficiently is all about gaining competitive advantage,” says Jim Gillen, director of asset management with Invesco, which uses the Honest Buildings platform. “Any firm that doesn't embrace it and doesn't get on the front end of technology is doing themselves and their capital partners a disservice.”

It was in conjunction with leading owners such as Invesco, Beacon Capital Partners and SL Green Realty Corp. that the Honest Buildings platform was devised. “When I personally worked as an asset manager for a large portfolio owner in New York City, our team was constantly looking for updated information from property managers, construction managers, architects, engineers and general contractors to understand where we stood compared to budget and overall business plans at each asset,” says Riggs Kubiak, CEO and co-founder of the New York City-based project management and procurement platform. “Allowing asset managers and their teams access to business intelligence on a project, building or portfolio basis in seconds replaces a process that previously entailed several calls, emails and visits to construction sites to understand where the projects stood.”

Earlier this month, Honest Buildings announced that it had interfaced with Yardi on the Santa Barbara, CA-based accounting software provider's Yardi Voyager platform. The interface is intended to facilitate real-time collaboration by full project teams by making invoice administration seamless, reducing the potential for errors that inevitably arise from dual entry of data.

“Our customers and our prospective customers have detailed the holes that currently exist between project management and accounting processes, and in our mission to best service this industry we moved to fill those holes through integrations,” says Geoff Lewis, VP of product at Honest Buildings. “Ownership and management teams now have access to uninterrupted workflow for invoice processing and reporting, creating transparency and collaboration, and ultimately more informed decision making abilities.” The company is partnering with leading solutions providers as part of its process of growth and integration.