Procore Enhances its Preconstruction Solution for Better Cost and Risk Management
11 June 2021 - 7:00AM
Business Wire
Procore Platform Connects People, Designs, and
Data from Preconstruction through the Entire Course of
Construction
Procore Technologies, Inc. (NYSE: PCOR), a leading provider of
construction management software, announced an enhanced
Preconstruction solution at today’s Procore Innovation Summit. This
solution connects people, designs, and data across preconstruction
and the course of construction on Procore’s platform, with
analytics tools to support the entire process.
According to a 2018 study conducted by FMI, correcting work that
was incorrectly done, or rework, cost over $500 billion in 2018. On
average, 52% of that rework was caused by poor project data and
communication. Procore Preconstruction is tailored for owners,
general contractors and specialty contractors looking to win and
build more profitable projects, while reducing risk and rework.
Every project stakeholder can now be connected to a project’s
design, estimates, bidding and budgets within the Procore
platform.
Improving Estimates by Connecting Estimating to
Financials
Procore Preconstruction starts with estimating and takeoff, and
the data flows into bidding and financials tools. This allows users
to better manage project costs through all phases of construction,
by connecting the preconstruction teams with the field.
Procore acquired construction estimating and takeoff company
Esticom in October 2020. Esticom’s technology is now integrated
into the Procore platform and its user interface, enabling users
to:
- Automatically create their budget and prime contracts directly
from an estimate with a single click, preventing important
information from being lost in the transition from preconstruction
to operations.
- Streamline change management and ensure their total estimated
profit is not lost between systems or teams — made possible by
connecting drawing markups to estimating via the Drawings
tool.
- Build more accurate takeoffs faster with Auto-Count, an
artificial intelligence feature that assists in symbol
recognition.
- Use Procore’s new benchmark data, available within Procore
Analytics, to compare the past performance of initial estimates to
the final budget at project delivery. The performance of specific
specialty contractors across projects of similar size and type can
also be compared.
Scott Polsen, Managing Director at Benmax, said, “Procore
Analytics provides visibility for us to analyze and validate
information quickly, to allow us to make decisions faster and with
more confidence.”
Better Design Coordination to Ensure Constructability
If the first half of reducing cost risk is to make better
estimates, the second half is better design coordination to ensure
constructability. Constructability review is an all-hands-on-deck
process with the design team and the project team collaborating to
flag issues and ultimately ensure that the plans put into action
can be delivered as designed.
Procore Preconstruction has tools for effectively managing
design collaboration, including:
- Coordination issues: This new tool allows teams to track and
manage all 2D and 3D design issues in one location, and to perform
collaborative design reviews on drawings.
- “Follow Me” feature in Procore BIM: Users can see all active
users reviewing the model and navigate directly to their location
with a single click, making design reviews more efficient and
effective.
- Dynamic 2D Views from Procore BIM: Users can create 2D drawing
views of the design from the BIM model. Now teams can see all
building systems consolidated in a single view to make sure
everything is coordinated and properly located prior to
construction.
Josh Soules, Foreman at North Mechanical Contracting, said,
“Having access to elevation drawings, on-the-fly, in Procore, is
just one more tool that enables me to do my job more
efficiently.”
Learn more about Procore Preconstruction in this blog post and
at https://www.procore.com/preconstruction.
Forward-looking Statements
This press release contains forward-looking statements about
Procore and its industry that involve substantial risks and
uncertainties. All statements other than statements of historical
facts contained in this press release, including, but not limited
to: statements regarding the expected performance of Procore’s
business and objectives of management for future operations, are
forward-looking statements. Procore has based the forward-looking
statements contained in this press release primarily on its current
expectations and projections about future events and trends that
Procore believes may affect its business, financial condition, and
operating results. The outcome of the events described in these
forward-looking statements is subject to risks, uncertainties, and
other factors that could cause results to differ materially from
Procore’s current expectations. You should not place undue reliance
on Procore’s forward-looking statements. Procore assumes no
obligation to update any forward-looking statements to reflect
events or circumstances that exist or change after the date on
which they were made, except as required by law.
About Procore
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
Canada around the globe. Learn more at Procore.com.
PROCORE-IR
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Roohi Saeed press@procore.com
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