Ratesmiths Helps Solve Fit-Out Puzzle

The state of the commercial workspace has been well debated and documented during the past 18 months, with much of a consensus on the need for change.

Competition for talent and the need to retain staff has put the spotlight on businesses to provide more engaging workspaces as a trade-off for making the daily commute.

Businesses are now in a race to compete on offerings of flexibility, culture and well-being, shifting away from the traditional motivations of financial incentives and status.

On the back of this, Ratesmiths, Australia’s first independent online platform connecting businesses planning workspace fit-outs with highly rated design and fit-out companies, has launched as tenants seek support with their post Covid workspace evolutions.

A Ratesmith’s spokesperson said that with the increasing need for transparency and probity in the supplier selection process, a different approach to procuring design and fit-out services is required.

“Ratesmiths offers a new and innovative solution for businesses seeking to source and select their ideal fit-out partner, replacing the traditionally limited referral approach,” they said.

“Tenants benefit from a broader selection of suppliers, coupled with an easier way to filter and compare, saving them time and ensuring they are matched to the right partner for their project.”

Ratesmiths say they are also lifting the veil on design and fit-out empowering tenants to take control. For the first time, tenants can access free-of-charge proprietary tools and an industry leading process are shared up front, to support faster and more efficient decision making.

Tenants are empowered to control the process in a way that was only historically available to businesses prepared to pay the fees of a client-side project manager.

On a mission to provide an independent source of truth on the quality-of-service providers in the design and fit-out industry, Ratesmiths believes it can ultimately build trust and deliver transparency between tenants and suppliers through its independent rating and review platform, superseding the current approach of providing tenants with selective testimonials and references.

For tenant representatives and other property professionals wanting to provide impartial advice and support tenants on their fit-out journeys, Ratesmiths helps add value for their clients from early in their research phase, building further trust and engagement—and driving quicker decision making and project traction.

Ratesmiths’ managing director and co-founder Anthony Smith, who was also a co-founder, said that throughout almost 20 years of industry experience both in Australia and overseas, had seen how difficult and overwhelming the workspace design and fit-out industry can be to navigate for tenants.

“When considering a workspace fit-out they rely solely on recommendations which aren’t necessarily in their best interests,” Smith said.

“We created Ratesmiths to revolutionise the industry through authentic partnerships while building trust every step of the way.

“Ratesmiths is a free online marketplace for tenants, making it quicker and easier to select the right fit-out partner—and most importantly, ensuring tenants are matched to a partner who can deliver their project brief.

“It provides tenants with ratings and reviews of potential suppliers from past clients to help them decide whether to engage with them to deliver their vision.

“For suppliers on Ratesmiths, they can be assured that they are only connected with qualified leads, reducing their high acquisition costs chasing projects unaligned to their core business capabilities. It’s a win-win situation.”

Smith said features and benefits of Ratesmiths included industry-leading educational toolkit, allowing businesses to take control of their fit-out through understanding the process and their options; proprietary tools and templates, including a fully customisable competitive tender pack to help businesses stay on track and minimise the impact of time and budget blowouts; and bespoke matching algorithm connecting businesses with potential fit-out partners based on their project objectives and selection criteria.

It also has ratings and reviews of listed suppliers, providing insights into fit-out partners, and the ability to hold selected partners to account on project delivery, he said.

“Connecting your tenants to Ratesmiths gives them the benefit of an independent design and fit-out expert aligned with their business values at no cost,” Smith said.

“Empower them with knowledge and ensure they are matched with the right partner to deliver their design and fit-out project, reducing risk and resulting in better project outcomes.”

Ratesmiths is currently offering demonstrations to provide insight into the advantages and practicalities of the service. Contact them via their website, below.

Main image courtesy of Amicus.

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