Matterport and KnowHow Partner to Accelerate Worker Training and Onboarding for Digital Twin Solutions in the Restoration Sector
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Insights
The partnership between Matterport and KnowHow is a strategic move aimed at addressing the high turnover rates within the restoration and construction industry. By integrating comprehensive training solutions for Matterport's digital twin technology into KnowHow's platform, the initiative targets improving employee retention and productivity. This collaboration could potentially lead to increased adoption of Matterport's technology, thereby expanding its customer base and possibly driving up sales.
From a market research perspective, the synergy between Matterport's advanced 3D technology and KnowHow's training capabilities is expected to enhance the value proposition for clients in the restoration industry. By providing 'just-in-time' training, Matterport is not only selling a product but also ensuring that it is utilized effectively, which can lead to higher customer satisfaction and loyalty. This strategy may set a new standard for customer support and service delivery within the tech industry, particularly for companies providing complex digital solutions.
Financially, the partnership could influence Matterport's revenue streams and cost structure. By potentially reducing the learning curve associated with its digital twin technology, Matterport may see a decrease in support costs and an increase in customer lifetime value. Furthermore, the enhanced training and documentation capabilities provided through KnowHow could lead to more efficient project execution for restoration professionals, translating into better cost estimates and faster job completion.
Investors should monitor the impact of this partnership on Matterport's financial metrics, such as sales growth, customer acquisition costs and churn rate. If the partnership leads to improved operational efficiency for Matterport's clients, it could result in stronger financial performance for the company, which would be reflected in future earnings reports.
The collaboration between Matterport and KnowHow underscores the importance of technology adoption and user proficiency in the restoration industry. Matterport's digital twin technology represents a significant innovation in how physical spaces are documented and managed. By partnering with KnowHow, Matterport is addressing a key barrier to technology adoption: the skill gap.
Effective adoption of new technologies can lead to competitive advantages such as cost savings, time efficiency and improved accuracy in project planning and execution. For the restoration industry, these benefits are critical, as they directly affect the bottom line and service quality. The partnership could serve as a case study for how technology providers can facilitate adoption and maximize the impact of their solutions in niche markets.
KnowHow offers a comprehensive collection of detailed training solutions for Matterport’s digital twin platform and products, empowering thousands of restoration experts to fully leverage Matterport's AI-driven digital twin technology
SUNNYVALE, Calif, March 06, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), and KnowHow, a leading software platform to onboard, skill up, and equip workforces in the restoration industry, announced a partnership to deliver comprehensive ‘just-in-time’ online system training for Matterport’s Digital Twin Platform to all KnowHow customers.
On average, turnover rate in construction and restoration is roughly
Through this partnership, KnowHow will offer its vast network of restoration professionals comprehensive training for Matterport's entire solution, from operating the Pro series cameras to capturing and documenting spaces effectively, ensuring optimal use of Matterport's Digital Twin Platform in their projects.
KnowHow is the leading software for onboarding and equipping workers in the restoration industry, supporting owners, franchisors, general managers, project managers, and field staff with digital, on the job training. With more than 150,000 step-by-step processes created by restoration staff, KnowHow provides its customers with intuitive training that ensures every worker has easy access to the knowledge they need to succeed in their role.
“Matterport is consistently ranked by restoration leaders as one of the industry’s top tools for photo documentation of job sites in our State of the Industry survey,” said Leighton Healey, Chief Executive Officer of KnowHow. “KnowHow helps customers get full horsepower out of tools like Matterport, ensuring staff know when and how to use it, regardless of their level of experience or language preference. This partnership reinforces Matterport’s fierce commitment to empowering their customers with all the tools they need to be successful in their role, and KnowHow’s dedication to building a confident workforce.”
Matterport’s digital twin technology transforms physical buildings and spaces into photorealistic 3D replicas. For the restoration industry, these easy to navigate 3D spaces deliver accurate, transparent, and fair documentation that save crews time, cuts costs, and helps them complete jobs much faster.
As part of Matterport's Winter 2024 Release: Automating the Future, Matterport launched Property Intelligence, its proprietary collection of AI-powered features that provides customers with access to automated measurements, layouts, editing, and reporting capabilities generated from a Matterport digital twin of their property. This can assist restoration professionals with better cost estimates for maintenance, reduce time spent traveling to site for additional detail, as well as increase collaboration with customers to ensure better project clarity that ultimately drives the best results.
"In an industry with consistent turnover, KnowHow is leading the charge in shrinking the skill gap for restoration professionals,” said Jay Remley, Chief Revenue Officer, Matterport. “KnowHow is an ideal partner to evangelize our solutions for the restoration industry, helping crews succeed quickly with confidence when using our digital twin solutions to help them complete jobs faster, more effectively.”
Matteport’s best practices and procedures are available to every new and existing KnowHow customer, on their desktop or mobile devices via the KnowHow app. With KnowHow’s step-by-step walkthroughs, restoration teams can get up to speed on Matterport’s services faster than ever.
To learn more about Matterport’s solutions for restoration and Design and Construction Management, visit: www.matterport.com.
About KnowHow
KnowHow is an intuitive, mobile-first application that helps service industry leaders rapidly onboard new hires, upskill their workforce, and provide on-demand, expert guidance for every job. The app centralizes company how-to and best practices, and with the help of AI-powered virtual expert, Howie, provides workforces with easy-to-follow directions in their preferred language. With KnowHow, companies accelerate new hire productivity, reduce costly errors, free up management capacity, and build a more confident workforce. Learn more about how KnowHow makes it easy to build, maintain, translate, and share Standard Operating Procedures at tryknowhow.com.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is the World’s #1 Digital Twin Platform* leading the digital transformation of the built world. Our groundbreaking platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
©2024 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners. *Largest digital twin cloud hosted platform for the built world sq. ft. scanned. Data on file.
Media Contact:
press@matterport.com
Investor Contact:
Mike Knapp, VP Investor Relations
1 How to prevent employee turnover on your construction site
FAQ
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