We recently hosted Procore’s second annual Innovation Summit of 2022, during which industry experts and Procore product leaders showcased a number of new announcements, including Procore Workforce Management, Procore Document Management and The State of Global Preconstruction, a new industry report released by the FMI in partnership with Procore.
Here are some highlights from the summit:
Procore Workforce Management
Ben Schultz, Procore’s Head of Workforce Management, opened the event by speaking about how Procore is working to address the global labor shortage, which has significantly exacerbated challenges such as project delays and budget constraints. Therefore, effectively managing one’s workforce can be critical to protecting a construction project’s bottom line.
To help construction teams deliver more reliable project outcomes, we launched Procore Workforce Management. The brand new end-to-end solution features two key products — Field Productivity as well as Workforce Planning. With Procore Workforce Management, organizations can digitize and standardize workforce management – ultimately promoting better resource scheduling, field productivity and profits.
After walking through demos of the Workforce Planning and Field Productivity products, Schultz welcomed Dustin Burns, Vice President of IT at McCownGordon Construction. Over the course of their conversation, Schultz and Burns discussed how McCownGordon Construction is putting Procore Workforce Management to use and the benefits Burns has personally witnessed since implementing the integrated workforce management solution.
“Our workforce management folks were doing everything in spreadsheets. And during crucial moments, like performing workforce planning forecasts for executives, the formulas would break. They were frustrated and it created an IT nightmare," said Burns. "It's exciting to hear they are now using the software and happy to do so. For us, it provides a ton of value in the form of time savings and business intelligence.”
Procore Document Management
Next, Procore’s Vice President of Global Anna Schlegel introduced our new vision for Procore Document Management. Schlegel was also joined by Dave McCool, Group Product Manager at Procore and former Director of BIM at McCarthy Building Companies. The two product leaders spoke about why effective document management is so crucial for construction stakeholders and how the evolution of information management practices has impacted the industry.
We’ve spent a lot of time getting feedback from customers around the world and we know that the ability to collaborate across distributed teams and effectively manage documents is incredibly challenging. As a result, construction document management is an enormous area of focus for our industry. In fact, in a recent global study from FMI Corp and Procore around the benefits of preconstruction, respondents estimated that rework contributes to 19% of the total project cost, and only 30% of that is recoverable. This means that 70% of rework is being absorbed by the contractor.
To help customers meet this challenge, we have worked with the industry to develop a solution that provides a reliable, secure and performant single source of truth to access, manage, and collaborate on documents from anywhere in the world.
The solution features an integrated markup experience with custom approval workflows and granular file level permissions, helping customers meet common data environment requirements and ISO compliance standards.
FMI’s State of Global Preconstruction Report
Kristy McKnight, Vice President of Product Management for Preconstruction, closed the Innovation Summit by sharing some key insights from FMI Corp’s new industry report sponsored by Procore, The State of Global Preconstruction.
The report explores the current state of preconstruction and the characteristics of those who do it well. Participants surveyed were asked to describe the preconstruction practices in their organizations, tools and technologies, project experiences and outcomes.
McKnight had the opportunity to speak to Jay Bowman, an industry research analyst and construction expert at FMI Corp, to delve into some of the key takeaways from the report:
- More than 75% of survey respondents claim to have a formal preconstruction process. However, the consistency of preconstruction suffers because the process is often determined by an individual.
- Respondents ranked the ability to leverage technology as their least challenging aspect of preconstruction.
- Organizations who perform “above-average” preconstruction are more likely to report higher profitability, fewer project delays, and less rework than below-average organizations.
Want to hear more from our product leaders, customers, and industry experts on how organizations can improve resource scheduling, team performance, and collaboration while maximizing profitability?
Watch the full length Innovation Summit here.