The construction industry presents complex challenges in need of complex solutions. According to a report by McKinsey, 98% of mega projects face cost overruns or project delays. Productivity growth in the construction sector has lagged significantly behind other areas of the global economy over the last 20 years. The construction industry’s problem is inherently more complicated than most sectors due to the number of stakeholders involved, the differing phases, and the innumerable number of moving parts.
Today, project data is often captured in multiple siloed systems. These siloed systems act as a barrier to effectively analyzing the data in order to realize its value.
Platforms are the solution to this issue.
Rather than develop one off solutions for specific construction problems, we’ve created a connected platform through Procore. An open, flexible, and secure framework, for solving a wide array of construction challenges helping over 8,500 customers and over 1.3 million users become better connected. Unlike more limited solutions providers who tightly control development of new products, Procore has democratized innovation by opening our technology to the developer community. By doing so, massive amounts of value have been added to the platform through third party integrations, embedded experiences, and new technologies to support the work being done in the construction industry.
Additionally, this integrated system allows for data to flow back and forth from one tool to the next making use of a vast amount of information and pulling insights from it. With over 3,000+ terabytes of data processed through the Procore Platform, there are deeper understandings that can be gained through this integrated system. Our platform connects everyone attached to a project with the same intuitive technology – making it easier to collaborate, share data, and drive the project forward together, faster and more efficiently than ever.
“We had never seen anything like it before. The evolution and the change it has caused in our company is revolutionary,” - said Geoff Bambini, Asturian Group, Inc.
By taking a flexible platform approach, we allow users to access all the tools they need to deliver profitable projects in one location. Not only are we more adaptive to new emerging challenges, we reliably drive big business value for our customers today. In a recent survey of Procore customers, we found that our users are saving significantly greater time on essential construction tasks than their competitors. Key members of the project and field teams are saving over 12 hours a week. That’s a full day and a half per week or an extra week every month. In addition to being more efficient with their time, Procore customers are also significantly better at mitigating risk than their competitors. In addition, Procore customers almost universally reported being able to manage their businesses more effectively thanks to the Procore Platform. On average reporting being able to manage 30% more work since adopting Procore.
“Procore allows me to manage the entire project using a single tool. I love being able to access it from any web browser AND from my smartphone and tablet,” said Matt Keen, 41 North Contractors, LLC.
The benefits to companies that leverage the Procore Platform are undeniable.
Like other platform solutions, the secret to the success of our technology is in our ability to flexibly meet the needs of a diverse set of users. To meet that demand, the Procore Platform is constantly growing and evolving. With that in mind, we’re excited to introduce the construction industry to the next phase of Procore’s evolution. We hope you’ll join us at Groundbreak on October 26th-28th to discover all the new and exciting areas where the Procore Platform is growing and evolving to better meet the needs of modern construction.
Join us for our first virtual Groundbreak featuring New York Times Bestseller, Brené Brown, and discover what the future of construction looks like.