Archive for Procore

Xero Partners With Procore Offering Cloud Construction Management Tools To Global Small Businesses

Posted in Commentary with tags on September 27, 2022 by itnerd

Xero, the global small business platform, has partnered with leading global provider of construction management software, Procore Technologies, Inc., to provide a new integration between Procore’s construction financial management solution and Xero’s cloud-based accounting platform.

The new app integration is now available on the Xero App Store in the United States, Canada, the United Kingdom, Australia and New Zealand. It helps solve some of the biggest challenges small and medium construction firms face by enabling them, and their advisors, to connect field and back office teams with real-time, accurate, financial data in the cloud. This in turn supports the delivery of multiple complex projects on time, and on budget.

According to McKinsey, the construction industry accounts for 13 per cent of global GDP, but productivity has grown by just one per cent annually over the past 20 years and digitalization is lower than in nearly any other industry.

You can try the new Procore app in the Xero App Store here.

Procore Announces Integration of Embodied Carbon in Construction Calculator

Posted in Commentary with tags on April 7, 2022 by itnerd

Procore Technologies, a leading global provider of construction management software, today announced a new integration with Building Transparency, a nonprofit organization with the mission to enable broad and swift action to address the construction industry’s role in climate change. The integration enables Procore users to leverage the Embodied Carbon in Construction Calculator (EC3) in an effort to drive sustainability across the global construction industry.

Between 2015 and 2050 worldwide, two trillion square feet of buildings are expected to be built or renovated, and the World Green Building Council estimates that construction materials account for approximately 11 per cent of global carbon emissions. In order to address Environmental, Social and Governance (ESG) and sustainable building practices, the EC3 tool is a free database that calculates the embodied carbon emissions associated with design and material procurement, ultimately helping specialty contractors, general contractors and owners reduce embodied carbon emissions in construction. The EC3 calculator was co-conceived and developed by Skanska and C Change Labs; it was jointly seed-funded by Skanska and Microsoft. 

The EC3 integration provides Procore users the opportunity to reduce construction waste and rework, accounting for nearly $500 billion annually across the globe according to the 2018 FMI Report. By giving construction professionals the tools to benchmark and assess their carbon footprint, the tool actively helps companies realize their sustainability targets and reduce carbon emissions. 

To learn more about how Procore is partnering with Building Transparency to support greener construction practices, register for Procore’s global Innovation Summit taking place April 19. 

Procore’s Annual ROI Report Reveals Significant Customer Benefits Surrounding Sustainability, Safety And The Labor Shortage In Construction

Posted in Commentary with tags on March 29, 2022 by itnerd

Procore Technologies, Inc., a leading global provider of construction management software, today released the results of its 2022 Customer Return On Invest (ROI) report. The report explores how the Procore platform is helping customers tackle the most daunting challenges in the industry, including sustainability, safety and the labour shortage by analyzing responses from 2,600+ customers across North and South America, Asia and Europe. Key takeaways include:

  • Building Scalable Businesses: Customer respondents state that using Procore enables their project teams to manage 48 per cent more construction volume per person, on average.
  • Reduced Rework: 75 per cent of respondents agree Procore has helped reduce the amount of rework.
  • Improved Efficiency: Customer respondents reported saving an average of 15 days on the overall schedule on a typical project.
  • Safer Jobsites: 79 per cent of customer respondents that use Quality and Safety agree Procore has improved their company’s safety programs.

Rising material costs and supply chain issues, labour shortages, slimming margins, continued project delays, increasing carbon emissions due to rework and waste and the need for more sustainable solutions are just a few obstacles the industry is facing and will continue to face in the years to come.

Key takeaways and supporting customer responses can be found below:

Building Scalable Businesses: Customer respondents believe using Procore enables their project teams to manage on average 48 per cent more construction volume per person.

Reduced Rework: 75 per cent of customer respondents agree Procore has helped reduce the amount of rework taking place on their projects which leads to less carbon waste, more efficiency and delivering more projects on-time and on-budget.

Improved Efficiency: Customer respondents reported saving an average of 15 days on the overall schedule on a typical project.

Safer Jobsites: 79 per cent of customer respondents that use Quality and Safety agree Procore has improved their company’s safety program.

Procore’s sole focus is construction, from preconstruction to closeout, the Procore platform is purpose-built and developed to meet the needs of the construction industry. Continually recognized with top honours by leading user review sites such as G2, the Procore platform helps customers produce more value, deliver better project outcomes, and develop stronger, safer, and more productive teams.

To discover the tools that are driving results for construction leaders across the globe, download the Procore 2022 ROI Report today.

New Procore Survey Reveals Challenges and Opportunities for Construction Project Cost Management in Canada

Posted in Commentary with tags on November 16, 2021 by itnerd

Procore Technologies, Inc. a leading provider of construction management software, today released Canadian-focused findings from a report developed in partnership with Dodge Data& Analytics, a leading provider of commercial construction project data. The report found both owners and contractors in Canada face a variety of challenges when it comes to project cost management, but they believe using one streamlined tool will help facilitate construction projects and cost management more efficiently.

Conducted in July 2021, the report explores the industry’s perception of project cost management and how construction professionals across multiple regions leverage technology to effectively manage costs. Participants included construction owners, general contractors, and subcontractors in the public and private sectors across Canada, Australia, New Zealand, the United Kingdom and the United States.

Technology’s Role In Cost Management

When it comes to leveraging technology to track projects and costs, Canadian organizations are split — with many using multiple applications and spreadsheets to manage the information. While many are confident in their ability to track information to the benefit of their business, there are still many areas where there are needs for improvement.

Key Findings of Procore’s New Construction Cost Management Report:

●  Canadian Confidence: Canadian respondents were confident in how they are managing information.

  • Of all the regions surveyed, Canada led the way in knowing the real-time profit/loss status of projects/portfolio, with 68 per cent of Canadian respondents agreeing or strongly agreeing that they know where they are making or losing money on a project or across their portfolio, at any given moment.
  • Fifty-eight per cent of Canadians indicated they can easily uncover cost details and create comprehensive financial reports from a single source of truth.
  • Sixty-three per cent said they can dynamically track every dollar in their budgets and forecast critical costs with real-time data from the field, while staying in sync with the accounting system.

The report shows that owners expressed more confidence in their overall cost management capabilities than contractors surveyed, and each type of owner studied (public and private) is more confident than either type of contractor (general and trade). General contractors are more confident than specialty trades.

●  Staying on Top of Costs: When asked which cost-management activities their company has the greatest difficulty with, the top five selected by Canadian organizations are as follows:

  • Determining appropriate contingency amounts (32 per cent)*
  • Accurately estimating total cost to complete for activities in the work breakdown structure (31 per cent)*
  • Tracking costs for every aspect of the job to determine how they impact overall project cost (31 per cent) 
  • Control of project cash flows (29 per cent)*
    • Understanding in real-time where they are making or losing money (26 per cent)

      * Canada also leads in these three challenges when compared to its global counterparts. 

●  Varying Workflows: Canadian respondents are collaborating with external partners in various ways — including older, traditional processes — when it comes to workflows related to cost management:

  • Email and attachments (17 per cent)
  • Generic, third-party collaboration software (17 per cent)
  • Telephone and personal communication (16 per cent)
  • Manual processes relying on printed paper (14 per cent)
  • FTP server managed by a project team member (13 per cent)

When it comes to internal collaboration, third-party collaboration software (18 per cent) and email and attachments are the top tools.

  • The Cost of Technology: Globally, general contractors and specialty contractors reported notably different levels of satisfaction with their use of software for cost management. The disparity sends an important message that the right technology — and the right amount of it — is needed to effectively support the workflows of every team member in order to advance the entire industry.
  • And, while a high level of Canadian respondents indicated they know where they are making or losing money on a project or across their portfolio at any given moment, the results show there is room to spend more on the technology they need to be successful with 20 per cent of Canadian organizations said they are spending “the right amount” on technology required for cost management practices and 30 per cent said they are spending somewhat or much less than they should.
  • Improvements Needed in the Next 3-5 Years: When asked about the most important future needs to solve with project cost management, tracking dollars and data were high priorities. Globally, forecasting critical costs with real-time data from the field topped the list (30 per cent). In Canada, respondents cited these top three as the most important:
  • Dynamically tracking every dollar in my budget (30 per cent) 
  • Leveraging data from previous projects to benchmark cost performance (29 per cent)
  • Accurately assessing risk related to any changes or performance issues (29 per cent)

Listen to the conversation between Jas Saraw and Stephen Jones during the Cost Management: The State of the Industry webinar here

Download The Construction Cost Management Report here

To learn more about Procore solutions, including Financial Management and the ERP Connector Platform, visit Procore.com

Procore Announces New Innovation Connecting Construction With Mobile Personalization, Messaging & Investments In AI

Posted in Commentary with tags on September 23, 2021 by itnerd

 Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced the next wave of enhancements for a smarter and more connected platform. 

Procore Quick Capture Highlights Investment in Mobile, AI and ML 

Procore is bringing innovations to mobile that connect the field and office. With acquisitions of INDUS.AI and Avata Intelligence, Procore has invested in artificial intelligence (AI) and machine learning (ML) technology across its platform to help unlock the value of project data and drive efficiencies.
Procore Quick Capture is voice-enabled input technology that will launch in 2022, automating and simplifying data entry in the field by “telling” Procore what it should enter. With Procore Quick Capture on the Punch tool, users will be able capture a video of punch items and simply talk to Procore. Through AI and ML, Procore will create the punch item, attach a photo, and even assign it to the appropriate trade. Early testing has shown that this new voice-enabled punch can cut down the time required to capture and log information in the field for reporting by at least 50%. 

Procore Conversations is Contextual Messaging for Construction 

Collaboration on projects starts with communication. Today, that communication is rigid and is fragmented across multiple channels, such as email, text, and third-party messaging solutions. Procore Conversations, available in pilot in the fourth quarter of 2021, brings intuitive, contextual messaging to Procore, saving time and integrating communication across channels. Conversations are organized, prioritized, and easily accessible on mobile and web. Critical updates, questions, and discussions will happen seamlessly across the office and field, and are contextual to the item being discussed, such as an RFI, Change Order, or Observation. 

New Mobile Home Experience Personalizes and Prioritizes Daily Work

Procore is focused on creating unique experiences for every stakeholder in construction. That experience starts with mobile, where customers will have unique experiences based on who they are and their role in the construction project. The new mobile home experience, available in the fourth quarter of 2021, prioritizes daily work, with quick access to check in on progress, change status or create a new item – RFI, Observations, or Punch. It ensures when customers are in the field they have a complete view, so projects stay on schedule.

Connecting Everyone in Construction with The Procore Construction Network 

Procore’s mission is to connect everyone in construction on a global platform. Currently in pilot, the Procore Construction Network is a free online business directory connecting general contractors, specialty contractors, owners, architects, engineers, suppliers, and vendors. With location-based search and advanced filters, customers will be able to use the Procore Construction Network to quickly find and connect with new construction partners. This will make it easier for construction professionals to expand their online presence, promote their businesses, and grow their networks. 

To learn more about these platform enhancements, register and join Procore virtually at Groundbreak, the company’s annual conference being held October 12-14.

Procore Expands Document Management, Data Center Coverage & Regional Customization To Meet Global Demand

Posted in Commentary with tags on September 23, 2021 by itnerd

Procore Technologies, Inc. a leading provider of construction management software, today announced multiple platform updates to further meet the needs of its global customers —from document control to data and privacy enhancements. Used in over 125 countries, Procore’s platform is continually advancing to provide customers with everything they need to meet business and security needs worldwide. 

Collaborative Document Management Goes Global

Procore is taking its world-class document solution global to improve how the industry collaborates on construction documents across all project stakeholders. This is often a fragmented and inefficient process with construction teams using multiple disconnected solutions for versioning, markup, and workflow management. In 2020, 90 million documents were uploaded to the Procore platform. 

Procore’s new collaborative document management solution, coming soon, will offer a more flexible and configurable approach, making it easier and faster to access and collaborate on documents. It will provide customers with an integrated markup experience, offer custom approval workflows with granular file level permissions, and provide a solution that helps them meet common data environment (CDE) requirements and ISO compliance standards.

Global Cloud Infrastructure and Security Features to Meet Global Needs 

Procore has expanded its global infrastructure with 11 new cloud data centers for file storage, now 15 in total, that allow customers to store certain project data locally, while also improving the speed and performance of the platform. Procore provides enterprise grade security and privacy features such as data encryption-at-rest, managed bug bounty program, strict access control policies, and more. Procore solutions can assist customers in meeting their data privacy and governance requirements, including GDPR, California’s Consumer Privacy Act (CCPA) and Australia’s Privacy Act of 1988 — learn more here

Platform Flexibility and Global Enhancements Drive Customer Success

With feedback from global customers, Procore is building customization into the platform to meet the diverse needs of customers around the world. Whether building an inspection test plan in Australia or contractual correspondence in Germany, Procore’s customizable platform flexes to support regional business needs. Custom and Configurable fields are now supported by every product across the platform.

Industry Votes Procore as Top Construction Platform Solution

Procore was recently named the tenth best software company in the world on The Software Report’s list of 100 Top Software Companies of 2021, and received top honors from G2 in eight categories of software: construction management, construction project management, bid management, construction ERP, construction drawing management, construction accounting, punch list, and jobsite management software.

To learn more about these platform enhancements, register and join Procore virtually at Groundbreak, the company’s annual conference being held October 12-14. 

Procore Leads Eight Key Categories In G2 2021 Fall Report

Posted in Commentary with tags on September 9, 2021 by itnerd

Procore Technologies, Inc. a leading provider of construction management software, today announced that it has again received top honours from G2 users across several software categories, increasing its leadership status from the previous G2 2021 Summer Report

In the G2 2021 Fall Report, Procore maintained its leadership status across construction management, construction project management, bid management, construction ERP, construction drawing management, and construction accounting. In addition, Procore was named a leader in the punch list and jobsite management software categories. 

Procore achieved its rankings in the G2 Fall 2021 Report based on real users on G2. Inclusion in the report means a product must have received ten or more reviews in each category. Some of the top scores Procore received for construction project management include:

  • 97% of users rated it 4 or 5 stars
  • 92% are likely to recommend Procore
  • 93% believe Procore is going in the right direction
  • 89% rank the software as easy to use
  • 93% say they are satisfied with the quality of support

The Procore platform was purpose built for construction, with a deep understanding of the industry’s unique challenges and the needs of construction professionals. The platform provides complete visibility into construction projects by centralizing every app, document, and project team member in Procore’s cloud-based platform. This reduces miscommunication by providing a single source of truth.

Find the overview of the G2 Fall 2021 findings in the summary report.

New Procore ERP Connector Platform Provides Real-Time Insight on Financial Health of Construction Projects

Posted in Commentary with tags on July 15, 2021 by itnerd

Procore Technologies, Inc., today announced the availability of its global ERP Connector platform, along with four new Procore-built accounting integrations.

Now companies can obtain real-time insight into the financial health of their construction projects through centralized, accurate data that connects all of their stakeholders. They can easily connect their enterprise resource planning system of choice to Procore Financial Management, a project cost management solution.

According to the 2020 Construction Technology Report, over 50% of companies are still relying on spreadsheets to manage ERP workflows. This can lead to double-data entry, costly mistakes, and can create a delay in delivering data back to the accounting team – potentially impacting subcontractors’ payment, account reconciliation, and change order processing because decisions are being made based on incomplete data sets.

Customers wanting to use an integration sold directly by Procore now have a choice of nine connectors to choose from. These include four new connectors for Sage, MRI, Acumatica, and Yardi, as well as five previously built connectors for Sage 300 CRE, Sage 100 Contractor, Quickbooks Desktop, Viewpoint Vista, and Viewpoint Spectrum.

Both customer developers and third-party app developers can use the Procore ERP Connector platform to build integrations that leverage the same functionality that Procore-built accounting integrations deliver, so their field and office teams can collaborate in real time.

Learn more about the Procore ERP Connector platform in this blog post and on the Procore website.

ELEVATE Chooses Procore for Construction Management Software

Posted in Commentary with tags on June 23, 2021 by itnerd

Procore Technologies, Inc., a leading provider of construction management software, today announced that ELEVATE Build has chosen Procore as its construction management platform.

ELEVATE was founded in 2019 and specializes in creating high-end commercial spaces, including Alchemy, a Toronto retailer recently featured in Interior Design Magazine. The company delivers projects across Canada and the U.S. 

After trialing other solutions, ELEVATE chose the Procore platform for its complete feature set, flexibility and fast onboarding. Paul Bélanger, ELEVATE’s principal and project director, estimates that Procore will save the company about $45,000 (CAD) each year by streamlining administrative work. With Procore, ELEVATE is able to provide clients with frequent updates about project finances, confident that no details have been missed.

While ELEVATE initially implemented Procore to leverage financial and project management tools, the company continues to discover new ways to use the platform to innovate and improve day-to-day operations.

Procore is a leading provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore’s platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore’s Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices in the United States, Canada and around the globe. Learn more at Procore.com.

Canadian Construction Managers Are Estimated To Save 4.5 Hours A Week & Companies CAD$446K A Year Through Access To Real-Time Data: Procore

Posted in Commentary with tags on May 27, 2021 by itnerd

Procore Technologies, Inc., a leading provider of construction management software, today published the results of a new survey that found Canadian construction managers who can access real-time insights into performance are estimated to be saving 4.5 hours each week.

The study, What Gets Measured Gets Managed, focuses on the Canadian results of a survey that also included results from organizations in the United Kingdom and Ireland, France, Germany, the Netherlands and the United Arab Emirates.The research explores the impact of construction companies having real-time insights into their project management processes — or visibility of performance — through cloud-based software compared to traditional manual processes that can be more difficult to assess. 

It found a correlation with having visibility of performance and time and money savings. Canadians surveyed estimated a time saving of 4.5 hours each week due to performance visibility (216 hours a year*). Weighted to the sizes of the companies and their labour costs, the results suggest an average annual savings of CAD$446,000 per business from having on-demand access to visibility of performance to avoid delays, rework and other performance gaps. 

Visibility Making an Impact Seventy-five per cent of Canadian respondents said their company’s level of visibility of performance is very high (21 per cent) or high (54 per cent). A quarter (25 per cent) said it’s moderate or worse. Visibility of performance is related to the tools commonly deployed. 
Many Canadian respondents said they use manual tools such as spreadsheets (65 per cent), and experience challenges such as incomplete insights (34 per cent), duplicated insights (31 per cent) and incorrect insights (29 per cent). 

Among those who have visibility of performance, half (50 per cent) have seen an increase in overall efficiency and productivity in the way their projects are run — the highest of any country surveyed; 51 per cent noticed fewer defects in projects. Almost half (48 per cent) claimed better safety records. 
The survey also found Canadian organizations report different levels of performance visibility throughout the construction life cycle:

  • Almost three quarters (72 per cent) of Canadian firms with visibility of performance said this particularly applied to the build stage of projects (helping determine optimal cost or phasing, or reduce defects).
  • A similar proportion (69 per cent) said they gained insights during the preconstruction stage (including better estimates of their project costs). 
  • However, only 46 per cent said they have performance visibility during the operate phase, in which companies schedule maintenance activities and monitor the performance of assets.

Half of Canadian respondents using artificial intelligence or machine learningThe results also show Canadians are looking ahead to new technologies and processes for better efficiencies and performance.

Artificial intelligence (AI) or machine learning is used by just over half of Canadian respondents (52 per cent) to assist with visibility of performance. Four out of five of those not using AI or machine learning said they would “definitely” (16 per cent) or “potentially” (64 per cent) consider using them to help achieve visibility of performance. 
Additionally, nine in 10 (90 per cent) of Canadian organizations have shared information or insights with their supply chain to improve project performance. The top two benefits are better management of the supply chain and tracking progress of records needed to consider safety plans complete (both 40 per cent).

The report, What Gets Measured Gets Managed, can be downloaded here: https://www.procore.com/en-ca/ebooks/what-gets-measured-gets-managed

Methodology

The survey was conducted online by Sapio Research on behalf of Procore in January 2021 among 820 middle managers and above, working for construction companies with 100 people or more in Canada, UK and Ireland, France, Germany, the Netherlands and the UAE. There were 154 Canadian respondents, representing the commercial, industrial, homebuilding/residential, fit-out and civil engineering sectors.