Bank Of America To Use Buzzsaw.com as Collaboration Workspace For Commercial Real Estate Lending Business.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--April 10, 2000 Leading corporate lender follows up strategic investment with plan to leverage Buzzsaw.com to improve workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. and increase efficiency Buzzsaw.com, Inc., the leading B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business marketplace for the building, design and construction industry, announced today that Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. has committed to using Buzzsaw.com to improve workflow and streamline communications in its commercial construction lending business. The announcement follows the latest round of financing for Buzzsaw.com, in which Bank of America was a significant investor. The top underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. of commercial and residential construction projects in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Bank of America will use Buzzsaw.com's wide array of tools and services to better manage its construction lending business. Bank of America views the relationship with Buzzsaw.com as an opportunity to streamline the construction management and finance process for both Bank of America and its developer/general contractor client base, thereby potentially creating significant cost savings. Buzzsaw.com's powerful offerings will enable Bank of America's construction finance teams to work together in real time on complex financial transactions, share and edit documents and collaborate in secure online multimedia meeting environments. "We are excited that our partner Bank of America is using Buzzsaw.com to increase the efficiency of its commercial construction finance business," said Carl Bass, president and chief executive officer of Buzzsaw.com. "By leveraging our Web-based resources to improve its client relationships and loan administration services, Bank of America illustrates how Buzzsaw.com can drive results at virtually every phase of the building design and construction process. One of the most noteworthy aspects of Buzzsaw.com's rapid rise to its position as the largest Web-based resource for construction professionals is that we have been embraced by all areas of the building industry." "I think the strongest statement we can make about Buzzsaw.com is that we began our relationship with them as an investor and ended up becoming a partner," said Michael D. Malone, Managing Director and Head of Real Estate Investment Banking at Banc of America Securities. "Buzzsaw.com isn't just a marketplace for building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . or a collaboration workspace for construction process participants. It has emerged as a leading B2B resource for the entire building and real estate industry, including the lending component, because it enables companies to improve efficiency and increase value at all stages of the building process." About Buzzsaw.com, Inc. Buzzsaw.com is the premier B2B marketplace and collaboration workspace for the global $3 trillion building design, construction and real estate management industry. With its easy-to-use tools and services, Buzzsaw.com helps building professionals including architects, engineers, underwriters, contractors, and facilities managers to work more efficiently at every stage of the design, construction and building management process. The largest and fastest-growing online resource for the construction industry, Buzzsaw.com provides a comprehensive set of Web-based project collaboration and bid management tools, news, resource directories and e-commerce services. Buzzsaw.com, Inc. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . It is backed by Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean
Witter's Private Equity and Real Estate Private Equity Groups, Bank
of America, Impact Ventures, Autodesk, Inc. and Crosspoint Venture
Partners. For more information, please visit us at www.buzzsaw.com.
About Bank of America Bank of America Corporation, with $633 billion in total assets, is the holding company for the largest bank in the United States, with operations in 21 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Bank of America Real Estate Group has over 1,700 professionals in more than 80 cities around the world delivering banking capabilities and capital market resources to help REIT's and real estate operating companies operating company A business that engages in transactions with outsiders. , lodging companies, homebuilders, internet companies, funds and investors achieve financial success. For more information, visit the Bank of America website at www.bankofamerica.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion