Collaboration between corporate real estate and procurement teams can drive innovation, creativity and workforce empowerment.

In recent studies, the most successful partnerships in the business community are a result of collaboration to achieve mutual long-term goals.

“Procurement departments can add efficiency and transparency through standardized processes, but corporate real estate teams must partner with their procurement peers to build a shared understanding of real estate’s contribution to corporate strategy,” said Bryan Jacobs, international director for Jones Lang LaSalle. “Without this collaboration, a company risks undervaluing its real estate partners or constraining their abilities to deliver long-term productivity gains.”