The Power of Procurement: Connexus's Vision for Vendor and Contract Management
Real estate owners and operators are wasting millions in operational costs through a surprisingly common oversight: mismanaged service contracts. In an industry focused on optimizing NOI, property portfolios routinely overpay hundreds of thousands of dollars simply because they can’t effectively track and manage their vendor agreements. Connexus, a procurement technology platform, has quantified this costly blind spot and developed a solution that’s transforming how operators oversee their contracts and vendor relationships.
“We help operators by streamlining the contract bidding process and ensuring they engage with best-in-class vendors.” explains Heather Moore, President and COO of Connexus, who brings 25 years of real estate operations experience to the company, including executive roles at Greystar and AvalonBay Communities.
The data speaks for itself. In one case, Connexus helped a mid-Atlantic owner-operator with 30 properties in reducing their annual pest control expenses by over $100,000. This savings was realized by gaining transparency into existing contracts and comparing them to market rates. Further investigation revealed that, on average, properties only have access to about 40% of their service contracts at any given time. With the increasing turnover in property management, substantial costs were being hidden within poorly managed vendor agreements. In today’s competitive market, this presents a valuable opportunity for operators to enhance performance without compromising service quality.
The Connexus platform automatically analyzes spending patterns across markets, identifying opportunities where properties may be paying above-market rates for common services. This data-driven approach removes the guesswork from vendor negotiations and ensures operators capture available savings. The system provides real-time visibility into contract status, expiration dates, and spending patterns, enabling properties to make data-driven decisions about vendor relationships and service agreements. The financial impact for property owners has been immediate and substantial.
Unlike traditional procurement systems, Connexus has built a scalable technology solution to address this expensive problem. While many PropTech startups rush to market with untested solutions, Connexus took a methodical approach, starting with an MVP built to test their concept. They have since invested in their proprietary technology to be the first holistic platform to market that to centralize procurement. The Connexus platform now offers advanced contract auditing features, streamlined vendor and contract management with valuable insights into economic terms and other key provisions, along with an enhanced user interface for both clients and vendors.
The company’s revenue model reflects their focus on delivering clear value. With multiple options to make it affordable for Owners and Operators of any size, this allows all companies to streamline operators and have the ability to bid out unlimited RFPs for both operational expenses and capital expenses, which reduces cost and headcount.
The platform serves both sides of the marketplace effectively. For vendors, it offers zero-cost access to new business opportunities. “There’s a customer acquisition cost for all vendors in the service side of the business,” Moore notes. “Our goal is to provide high-performing vendors in their respective regions with more opportunities to submit proposals, helping them expand their network and grow their business.”
The Connexus technology platform also advances vendor diversity, with built-in tracking for family-owned, minority-owned, women-owned, and veteran-owned businesses. This feature allows property owners and operators to align their vendor selection with their organizational values while maintaining focus on service quality and cost efficiency.
In 2025, Connexus plans to gain density across all markets in the U.S. to offer new services. With their enhanced technology platform and growing network of property operators and vendors, they are positioned to help more operators uncover and eliminate unnecessary vendor costs.
For institutional real estate operators and property managers focused on operational excellence, Connexus’s technology-driven approach to vendor management represents a significant opportunity to capture savings that fall directly to the bottom line. In an industry where every dollar of operating expense impacts asset value, bringing data-driven precision to vendor management isn’t just improving procurement – it’s protecting and enhancing asset value.
