{"id":502927,"date":"2021-06-10T17:03:29","date_gmt":"2021-06-10T21:03:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/"},"modified":"2021-06-10T17:03:29","modified_gmt":"2021-06-10T21:03:29","slug":"procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/","title":{"rendered":"Procore Enhances its Preconstruction Solution for Better Cost and Risk Management"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Procore Enhances its Preconstruction Solution for Better Cost and Risk Management<\/b><\/p>\n<p class=\"bwalignc\"><i>Procore Platform Connects People, Designs, and Data from Preconstruction through the Entire Course of Construction <\/i><\/p>\n<p>CARPINTERIA, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.procore.com%2F&amp;esheet=52443626&amp;newsitemid=20210610005884&amp;lan=en-US&amp;anchor=Procore+Technologies%2C+Inc.&amp;index=1&amp;md5=3067e291d9e19b2f135b9cbe6c2c4380\">Procore Technologies, Inc.<\/a> (NYSE: PCOR), a leading provider of construction management software, announced an enhanced<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.procore.com%2Fpreconstruction&amp;esheet=52443626&amp;newsitemid=20210610005884&amp;lan=en-US&amp;anchor=Preconstruction&amp;index=2&amp;md5=a5894feaa50dbe6c53774d0c9dd0da86\"> Preconstruction<\/a> solution at today\u2019s <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fprocore.com%2Finnovation-summit&amp;esheet=52443626&amp;newsitemid=20210610005884&amp;lan=en-US&amp;anchor=Procore+Innovation+Summit&amp;index=3&amp;md5=d17b164f3816be621a5ed953e1da99af\">Procore Innovation Summit<\/a>. This solution connects people, designs, and data across preconstruction and the course of construction on Procore\u2019s platform, with analytics tools to support the entire process.\n<\/p>\n<p>\nAccording 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\u2019s design, estimates, bidding and budgets within the Procore platform.\n<\/p>\n<p><b>Improving Estimates by Connecting Estimating to Financials<\/b><\/p>\n<p>\nProcore 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.\n<\/p>\n<p>\nProcore acquired construction estimating and takeoff company Esticom in October 2020. Esticom\u2019s technology is now integrated into the Procore platform and its user interface, enabling users to:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAutomatically 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.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nStreamline change management and ensure their total estimated profit is not lost between systems or teams \u2014 made possible by connecting drawing markups to estimating via the Drawings tool.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nBuild more accurate takeoffs faster with Auto-Count, an artificial intelligence feature that assists in symbol recognition.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nUse Procore\u2019s 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.\n<\/li>\n<\/ul>\n<p>\nScott Polsen, Managing Director at Benmax, said, \u201cProcore Analytics provides visibility for us to analyze and validate information quickly, to allow us to make decisions faster and with more confidence.\u201d\n<\/p>\n<p><b>Better Design Coordination to Ensure Constructability <\/b><\/p>\n<p>\nIf 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.\n<\/p>\n<p>\nProcore Preconstruction has tools for effectively managing design collaboration, including:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nCoordination 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.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\n\u201cFollow Me\u201d 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.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nDynamic 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.\n<\/li>\n<\/ul>\n<p>\nJosh Soules, Foreman at North Mechanical Contracting, said, \u201cHaving access to elevation drawings, on-the-fly, in Procore, is just one more tool that enables me to do my job more efficiently.\u201d\n<\/p>\n<p>\nLearn more about Procore Preconstruction in this <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fblog.procore.com%2Fintroducing-procore-preconstruction-connecting-everyone-in-preconstruction-on-a-single-platform&amp;esheet=52443626&amp;newsitemid=20210610005884&amp;lan=en-US&amp;anchor=blog+post&amp;index=4&amp;md5=a3a86ec78f85da096b1079f53995b515\">blog post<\/a> and at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.procore.com%2Fpreconstruction&amp;esheet=52443626&amp;newsitemid=20210610005884&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.procore.com%2Fpreconstruction&amp;index=5&amp;md5=a14cbadd0cf2c04a324b93edc3f6eb10\">https:\/\/www.procore.com\/preconstruction<\/a>.\n<\/p>\n<p><b>Forward-looking Statements<\/b><\/p>\n<p>\nThis 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\u2019s 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\u2019s current expectations. You should not place undue reliance on Procore\u2019s 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.\n<\/p>\n<p><b>About Procore<\/b><\/p>\n<p>\nProcore 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&#8217;s platform. Procore\u2019s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry\u2014for the owner, the general contractor, and the specialty contractor. Procore&#8217;s Marketplace has a multitude of partner solutions that integrate seamlessly with Procore\u2019s 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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.procore.com%2F&amp;esheet=52443626&amp;newsitemid=20210610005884&amp;lan=en-US&amp;anchor=Procore.com&amp;index=6&amp;md5=4e947a667d9d52fa6c3304d08a638243\">Procore.com<\/a>.\n<\/p>\n<p>\nPROCORE-IR\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210610005884r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210610005884\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210610005884\/en\/<\/a><\/span><\/p>\n<p>\nRoohi Saeed<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@procore.com\">press@procore.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Architecture Software Construction &amp; Property Data Management Technology Other Construction &amp; Property Other Technology Residential Building &amp; Real Estate<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210610005884\/en\/1122698\/3\/Procore_Logo_FC_Black_CMYK.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Procore Enhances its Preconstruction Solution for Better Cost and Risk Management Procore Platform Connects People, Designs, and Data from Preconstruction through the Entire Course of Construction CARPINTERIA, Calif.&#8211;(BUSINESS WIRE)&#8211;Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, announced an enhanced Preconstruction solution at today\u2019s Procore Innovation Summit. This solution connects people, designs, and data across preconstruction and the course of construction on Procore\u2019s 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Procore Enhances its Preconstruction Solution for Better Cost and Risk Management&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-502927","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Procore Enhances its Preconstruction Solution for Better Cost and Risk Management - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Procore Enhances its Preconstruction Solution for Better Cost and Risk Management - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Procore Enhances its Preconstruction Solution for Better Cost and Risk Management Procore Platform Connects People, Designs, and Data from Preconstruction through the Entire Course of Construction CARPINTERIA, Calif.&#8211;(BUSINESS WIRE)&#8211;Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, announced an enhanced Preconstruction solution at today\u2019s Procore Innovation Summit. This solution connects people, designs, and data across preconstruction and the course of construction on Procore\u2019s 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. 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(NYSE: PCOR), a leading provider of construction management software, announced an enhanced Preconstruction solution at today\u2019s Procore Innovation Summit. This solution connects people, designs, and data across preconstruction and the course of construction on Procore\u2019s 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 &hellip; Continue reading \"Procore Enhances its Preconstruction Solution for Better Cost and Risk Management\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-10T21:03:29+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210610005884r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Procore Enhances its Preconstruction Solution for Better Cost and Risk Management","datePublished":"2021-06-10T21:03:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/"},"wordCount":912,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210610005884r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/procore-enhances-its-preconstruction-solution-for-better-cost-and-risk-management\/","name":"Procore Enhances its Preconstruction Solution for Better Cost and Risk Management - 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