- A new data analytics and usage feature now allows contractors to see which technologies their workers and trade partners use the most on projects, providing a window into which solutions in construction’s evolving technology stack contribute most to project outcomes, Procore said.
- Introducing App Management Metrics, the provider of construction management software said the feature shows users how third-party applications are being leveraged by workers, which can help companies make better decisions on technology buys in the future, as well as track outcomes by the tools that enabled them.
- “The additional metrics give us a next step advantage to see who our power users are,” said Denise Balzer, database analyst at Birmingham, Alabama-based contractor Robins & Morton and Procore user, in a statement. That, in turn, allows her to “use this information to make more informed decisions regarding our tech stack management.”
The announcement comes as construction’s tech stack continues to grow, with onsite tools from reality capture and real-time BIM increasingly leveraged in the palm of contractors’ hands. That use on the jobsite has increased the need to easily integrate and feed the data they collect into larger solutions.
Indeed, Procore said it now has 250 third-party integrations and partners on its App Marketplace, which allows users to plug various point solutions into Procore’s overarching construction management platform. More than 40% of its customers use two or more integrations within its solution, the company said.
The App Management Metrics announcement also illustrates the increasing number of technologies entering the construction tech universe, and the need to tie them together in a systematic, organized way.
Kris Lengieza, Procore’s senior director, business development, said in a statement that not one tech can solve all of a contractor’s needs, but that Procore’s platform allows firms to connect software solutions on one core system.
Procore has steadily increased its reach into the construction technology stack. It claims its software has been used on 1 million projects that represent $1 trillion in construction volume.
This summer, the firm used daily log data from its application that tracks worker hours onsite to show that productivity levels within the construction industry had nearly returned to pre-pandemic levels. It also launched a construction focused jobs board to help workers and employers connect.
Before the novel coronavirus upended life and business this spring, Procore was circling an initial public offering with a reported valuation of $4 billion. But those plans were reportedly put on hold as markets recoiled during the onset of the COVID-19 crisis in the U.S.
We provide a fun, casual and candid atmosphere to learn about innovation in the industry. CREtech is where the commercial real estate industry comes to discover all things tech. Our mission at CREtech is to connect the commercial real estate and tech sectors, bringing a new age of innovation and growth to the industry.