Property Operations Platform Visitt Teams With VendorPM

Visitt, an artificial intelligence-native property operations platform, and VendorPM, a leading vendor life cycle management company, announced Tuesday a partnership to create what they describe as a more unified approach to managing buildings and vendors.

By bringing together VendorPM’s life cycle management capabilities with the day-to-day operational workflows in Visitt, the partnership aims to provide property teams with a streamlined way to manage building operations, while ensuring vendors meet organization- and building-specific compliance requirements.

“What’s special about this is that, basically for more than two decades, vendors who interact on the daily basis with properties were basically disconnected from the daily operations,” said Jonathan Kroll, co-founder and chief product officer at Manhattan-based Visitt. “The reason is that most of the vendor work was managed outside of the system, creating visibility and compliance gaps, because these vendors should be compliant with the property requirements. 

“So, because everything was managed outside and sometimes even over emails, the vendor work wasn’t tracked at all. Basically, what we are doing with this partnership is taking the innovation that VendorPM brought into the vendor space and integrating it with daily operations.”

The consolidation happening in commercial real estate has companies looking to integrate more technologies into one platform, Kroll explained. Property management companies are relying more on vendors, while owner-operators are looking to lower costs by not doing everything in-house. The result is a greater reliance on vendors, which Visitt and VendorPM envision as valuing their partnership higher and growing in the long run.

“Technology consolidation is becoming increasingly important for property teams that are looking to work more efficiently without adding complexity to their day-to-day operations,” Itay Oren, CEO of Visitt, said in a statement. “Our partnership with VendorPM is about making the technology experience simpler and more connected for owners and operators. By bringing vendor workflows into the environment where teams are already managing their property operations, we’re helping customers reduce friction, save time, and focus on running their buildings more efficiently.”

Visitt was founded in 2017 and operates in more than 310 cities and 10,000 properties globally. This June, it announced an expansion into Canada through a partnership with BGO Properties, the Canadian property management division of real estate investment firm BGO. In January, the proptech company announced it raised $22 million in Series B funding from Susquehanna Growth Equity to build a single AI interface for commercial real estate property operations.

Working with leading real estate organizations across North America, Toronto-based VendorPM aids teams in reducing administrative workload, mitigating risk, improving operational efficiency and speeding purchasing decisions.

“Our goal is to simplify the operational challenges property teams face every day,” Emiel Bril, CEO of VendorPM, said in a statement. “This partnership reflects our shared commitment to delivering practical solutions that make a meaningful impact for our customers.”

Philip Russo can be reached at prusso@commercialobserver.com.