According to Procore and Dodge Data & Analytics, real-time cost management inspires a second wave of digital transformation in the construction industry
CARPINTERIA, Calif.–(BUSINESS WIRE)–Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today released a report in partnership with Dodge Data & Analytics, a leading provider of commercial construction project data. The report found that both owners and contractors 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.
�The opportunity to redefine what the industry should expect from a cost management solution has never been greater, said Tooey Courtemanche, Procore founder and CEO. Procore consistently works to be at the forefront of innovation, and this report highlights how construction technology gives teams insight into project financial risk and confidence in their connected data.
Conducted in July 2021, the report explores the industrys 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 specialty contractors in the public and private sectors across Australia, New Zealand, Canada, the United Kingdom, and the United States.
Key findings include:
The report shows that construction owners and contractors alike are ready and able to participate in a more holistic and integrated cost management approach, said Stephen Jones, senior director of industry insights, Dodge Data. Focusing on using fewer, more comprehensive technology tools and increasing all stakeholders engagement with cost management will ultimately generate better cost-related outcomes for all parties.
Geoff Lewis, Procores vice president of product for financial solutions said, These findings show the value of our cloud based cost management solution. Procore customers are ahead of the curve when it comes to connecting field and office teams with Procore Financial Management and our ERP Connector Platform, connecting real-time information in the field to your ERP system.
To learn more, access the full report here and watch Procores Cost Management: State of the Industry Webinar. To learn more about Procore and its financial solutions, visit Procore.com.
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. Our platform connects every project stakeholder to solutions we’ve built specifically for the construction industryfor the owner, the general contractor, and the specialty contractor. Procore’s App Marketplace has a multitude of partner solutions that integrate seamlessly with our platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe. Learn more at Procore.com.
About Dodge Data & Analytics
Dodge Data & Analytics is North Americas leading provider of commercial construction project data, market forecasting & analytics services and workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, seize growth opportunities, and pursue specific sales opportunities with success. The companys construction project information is the most comprehensive and verified in the industry.
As of April 15th, Dodge Data & Analytics and The Blue Book — the largest, most active network in the U.S. commercial construction industry — combined their businesses in a merger. The Blue Book Network delivers three unparalleled databases of companies, projects, and people.
Dodge and The Blue Book offer 10+ billion data elements and 14+ million project and document searches. Together, they provide a unified approach for new business generation, business planning, research, and marketing services users can leverage to find the best partners to complete projects and to engage with customers and prospects to promote projects, products, and services. To learn more, visit: construction.com and thebluebook.com.
PROCORE-IR
Contacts
Media Contact
Raelle Alfaro
press@procore.com
Investor Contact
Matthew Puljiz
ir@procore.com
Dodge Data and Analytics Contact
Allison Head
104 West Partners
allison.heard@104west.com
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