Ask the Expert: Nicole Schmidt, Founder/CEO, Source

Q: Expectations around pricing transparency have shifted a lot. How have you responded to that shift at Source?

A: Owners today expect a clear line between what they pay for products and what they pay for service, and I agree with them. At Source, we use a vendor-direct, flat-fee model, so clients see manufacturer pricing and our fee as separate numbers instead of a blended markup.

We back that up with practical habits, not just language. We share vendor quotes and invoices, keep product costs and fees separated in our documentation, and update budgets and cash flow forecasts as the project moves. When something changes on price or scope, we talk about it early and show how it affects the overall picture. The goal is simple: Clients should not have to guess what is in the margins, they should be able to focus on the trade-offs that matter for the asset.

Q: Beyond sourcing products, what role do you see Source playing as a strategic partner to owners and operators?

A: Sourcing products is the starting point, not the finish line. We build project-specific global sourcing and logistics reports that track where product comes from, how it moves and where risk is likely to show up. We then recommend practical changes, like adjusting order sequencing, routing or vendor mix to reduce delays and avoid preventable costs. We take a similar approach with tariffs. Through our partnership with a global trade law firm, clients can sit down for dedicated tariff mitigation strategy consultations tied to their specific project scope. The goal in both cases is the same: to give teams better information earlier so they can make confident, informed decisions about their assets.

Q: As you look ahead, how do you think technology will reshape the relationship between owners, designers and procurement partners?

A: It will continue to shift the relationship towards working from a shared picture. When owners, designers and procurement partners have access to the same information, you spend less time trading emails and more time solving real problems together. Clear information on budgets, POs and logistics changes the tone of conversations, because everyone can see what is committed, what is at risk and what options are on the table.

At Source, we are creating tools that make it easier for teams to understand what is happening across their projects in real time, so they can move faster, stay aligned and feel confident in the path forward.

JW Marriott Reston Station in Reston, VA


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