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Cushman & Wakefield joins with Zeborg for partnership.

Cushman & Wakefield and Zeborg announced that they have jointly formed FacilitiesWork. Operating as a subsidiary of Zeborg, FacilitiesWork will create an e-commerce marketplace designed to deliver product savings and operational efficiencies to companies in the $190 billion facilities operations market. Terms of the agreement were not disclosed.

FacilitiesWork will. combine the purchasing power of Cushman & Wakefield's facilities management operations with Zeborg's proprietary technology and procurement expertise to give corporate buyers control of the money and resources they devote to their facilities operations. Zeborg is a business-to-business e-commerce company that enables its clients to achieve and sustain dramatic savings in their procurement of indirect goods and services.

"As a growing global company, Gushman & Wakefield deals with the challenge of maintaining thousands of properties with decentralized purchasing of facility maintenance supplies and services," said Tom Falus, president of Cushman & Wakefield's Strategic Ventures Group. The firm manages 325 million SF of commercial space worldwide, including office buildings, corporate headquarters, industrial parks, and shopping centers. "Zeborg was our clear choice of partners to help us derive value from this inefficient marketplace. By creating FacilitiesWork, we will dramatically improve the procurement process for C&W, other property management companies and organizations across many industries, by creating bottom-line savings and applying economic intelligence to the whole process."

FacilitiesWork is a company that will provide sophisticated proprietary analytical tools and monitoring capabilities to generate and sustain significant cost reductions in indirect goods and services associated with facilities operations. Clients will receive data-rich reports on their purchasing performance and, with FacilitiesWork's help, gain greater control over their bottom line.

FacilitiesWork is scheduled to begin operating on a limited basis in October 2000, with additional products and services expected in January 2001. Facilities Work will utilize the proprietary technology and economic processes under development by Zeborg. Instead of just relying on cost reductions from reduced paperwork and faster cycle times, Zeborg leverages complex pricing mechanisms for each market to generate and sustain significant reductions in product costs, a crucial ingredient to the B2B arena that has been missing.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 27, 2000
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