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Procore Announces New Innovation Connecting Construction with Mobile Personalization, Messaging and Investments in AI
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary
Procore Technologies (NYSE: PCOR) announces enhancements to its construction management platform, emphasizing AI-driven tools for improved productivity and connectivity.
The new features include Procore Quick Capture, which automates data entry using voice commands, and Procore Conversations, a streamlined messaging tool for project collaboration. Additionally, a personalized mobile experience is set to launch in Q4 2021, enhancing user engagement. Procore’s mission continues to focus on connecting the construction process globally, with an anticipated expansion of its network by launching the Procore Construction Network.
Positive
Investment in AI and ML technologies aims to drive efficiencies and enhance project data value.
Procore Quick Capture is expected to reduce data entry time by at least 50%.
Introduction of Procore Conversations will streamline communication across construction projects.
Personalized mobile experiences are set to improve user engagement and project management efficiency.
Negative
Limited details on financial impact or projected revenue growth from the new features.
New solutions to deliver productivity with AI-driven voice capture, integrated messaging, and open network of construction companies
CARPINTERIA, Calif.--(BUSINESS WIRE)--
Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced the next wave of enhancements for a smarter and more connected platform.
Procore's next wave of innovation connects all stakeholders on a global platform. (Photo: Business Wire)
“For almost 20 years, Procore has been working to connect everyone in construction on a global platform, providing a single source of truth for customers around the world,” said Tooey Courtemanche, Procore founder and CEO. “We’re consistently innovating by connecting all of your people, workflows, data and tools, with a single user experience on mobile and web, from preconstruction to close out.”
Procore Quick Capture Highlights Investment in Mobile, AI and ML
Procore is bringing innovations to mobile that connect the field and office. With acquisitions of INDUS.AI and Avata Intelligence, Procore has invested in artificial intelligence (AI) and machine learning (ML) technology across its platform to help unlock the value of project data and drive efficiencies.
Procore Quick Capture is voice-enabled input technology that will launch in 2022, automating and simplifying data entry in the field by “telling” Procore what it should enter. With Procore Quick Capture on the Punch tool, users will be able capture a video of punch items and simply talk to Procore. Through AI and ML, Procore will create the punch item, attach a photo, and even assign it to the appropriate trade. Early testing has shown that this new voice-enabled punch can cut down the time required to capture and log information in the field for reporting by at least 50%.
Procore Conversations is Contextual Messaging for Construction
Collaboration on projects starts with communication. Today, that communication is rigid and is fragmented across multiple channels, such as email, text, and third-party messaging solutions. Procore Conversations, available in pilot in the fourth quarter of 2021, brings intuitive, contextual messaging to Procore, saving time and integrating communication across channels. Conversations are organized, prioritized, and easily accessible on mobile and web. Critical updates, questions, and discussions will happen seamlessly across the office and field, and are contextual to the item being discussed, such as an RFI, Change Order, or Observation.
“For the last 18 months, we met with customers and challenged ourselves to rethink how we innovate and improve the lives of everyone in construction,” said Wyatt Jenkins, SVP of product at Procore. “We are building solutions that connect the field and the office across mobile, leveraging AI, voice commands and messaging with Procore Conversations. On top of that, we are introducing the world’s largest online network of construction companies. It really feels like the beginning of the next chapter of construction technology.”
New Mobile Home Experience Personalizes and Prioritizes Daily Work
Procore is focused on creating unique experiences for every stakeholder in construction. That experience starts with mobile, where customers will have unique experiences based on who they are and their role in the construction project. The new mobile home experience, available in the fourth quarter of 2021, prioritizes daily work, with quick access to check in on progress, change status or create a new item - RFI, Observations, or Punch. It ensures when customers are in the field they have a complete view, so projects stay on schedule.
Connecting Everyone in Construction with The Procore Construction Network
Procore’s mission is to connect everyone in construction on a global platform. Currently in pilot, the Procore Construction Network is a free online business directory connecting general contractors, specialty contractors, owners, architects, engineers, suppliers, and vendors. With location-based search and advanced filters, customers will be able to use the Procore Construction Network to quickly find and connect with new construction partners. This will make it easier for construction professionals to expand their online presence, promote their businesses, and grow their networks.
To learn more about these platform enhancements, register and join Procore virtually at Groundbreak, the company’s annual conference being held October 12-14.
Forward-looking Statements
This 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’s 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’s current expectations. You should not place undue reliance on Procore’s 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.
About Procore
Procore 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's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore'sApp Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe. Learn more at Procore.com.
What are the new features announced by Procore Technologies on September 23, 2021?
Procore Technologies announced new features like Procore Quick Capture for voice-enabled data entry, Procore Conversations for streamlined communication, and a personalized mobile experience.
When will Procore Quick Capture and Procore Conversations be available?
Procore Quick Capture is set to launch in 2022, while Procore Conversations is currently in pilot and expected to be available in Q4 2021.
How does Procore Quick Capture enhance productivity?
Procore Quick Capture automates data entry through voice commands, potentially reducing the time required for capturing information by at least 50%.
What is the Procore Construction Network?
The Procore Construction Network is a free online business directory designed to connect various stakeholders in the construction industry, aiding in partnership and network growth.
What is Procore's plan for its mobile platform?
Procore intends to launch a mobile home experience in Q4 2021, prioritizing daily work and providing quick access to project updates.
