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Procore Expands Document Management, Data Center Coverage and Regional Customization to Meet Global Demand
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Procore Technologies (NYSE: PCOR) announced enhancements to its construction management software aimed at meeting global customer needs. Key updates focus on document control, data security, and collaborative management features. The platform supports over 1 million projects globally, including 90 million documents uploaded in 2020 alone. With the addition of 11 new cloud data centers, Procore enhances speed and compliance with data privacy regulations such as GDPR and the CCPA. This positions Procore as a leader in providing customizable solutions to the construction industry.
Positive
Introduced multiple platform updates enhancing document control, data security, and collaborative management features.
Supports over 1 million projects globally, showcasing strong demand for its platform.
Enhanced platform with 11 new cloud data centers, improving local storage and performance.
Ability to meet data privacy regulations, including GDPR and CCPA, enhancing customer trust.
Negative
None.
New Procore product enhancements continue to support the needs of its customers around the world.
CARPINTERIA, Calif.--(BUSINESS WIRE)--
Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced multiple platform updates to further meet the needs of its global customers — from document control to data and privacy enhancements. Used in over 125 countries, Procore’s platform is continually advancing to provide customers with everything they need to meet business and security needs worldwide.
Procore’s new collaborative document management solution, coming soon, will make it easier and faster to access and collaborate on documents. (Graphic: Business Wire)
“Procore builds software for the people who build the world,” said Tooey Courtemanche, Procore founder and CEO. “Our platform enhancements for customizability, security, privacy, storage, and collaborative document management will benefit both existing and new customers as we continue to expand internationally.”
Collaborative Document Management Goes Global
Procore is taking its world-class document solution global to improve how the industry collaborates on construction documents across all project stakeholders. This is often a fragmented and inefficient process with construction teams using multiple disconnected solutions for versioning, markup, and workflow management. In 2020, 90 million documents were uploaded to the Procore platform. Procore’s new collaborative document management solution, coming soon, will offer a more flexible and configurable approach, making it easier and faster to access and collaborate on documents. It will provide customers with an integrated markup experience, offer custom approval workflows with granular file level permissions, and provide a solution that helps them meet common data environment (CDE) requirements and ISO compliance standards.
"We use Procore to manage documents on our projects and to digitise our inspections and snagging processes,” said Philip Lambourne MSc MCIOB, head of design and information management at Henry Boot Construction Limited in the UK. “The level of support Procore offered with configuring the platform and its usability was largely the reason behind our decision to select them. The support provided is vital, not only for our internal employees but for all our supply chain partners.”
“For all Procore customers around the world, this will provide a single location for all project documents, from preconstruction through closeout, and can only be accomplished with a true platform offering unlimited users, unlimited data and unlimited collaboration on every project,” said Wyatt Jenkins, Procore’s Senior Vice President of Product.
Global Cloud Infrastructure and Security Features to Meet Global Needs
Procore has expanded its global infrastructure with 11 new cloud data centers for file storage, now 15 in total, that allow customers to store certain project data locally, while also improving the speed and performance of the platform. Procore provides enterprise grade security and privacy features such as data encryption-at-rest, managed bug bounty program, strict access control policies, and more. Procore solutions can assist customers in meeting their data privacy and governance requirements, including GDPR, California's Consumer Privacy Act (CCPA) and Australia's Privacy Act of 1988 — learn more here.
Platform Flexibility and Global Enhancements Drive Customer Success
With feedback from global customers, Procore is building customization into the platform to meet the diverse needs of customers around the world. Whether building an inspection test plan in Australia or contractual correspondence in Germany, Procore’s customizable platform flexes to support regional business needs. Custom and Configurable fields are now supported by every product across the platform.
For Dean Hopkins, chief operations officer at Oxford Properties, “Procore is a big part of creating a global development platform, where we can benefit from what teams in Australia are doing and learning, and that can actually translate to what we're doing in North America on projects, and then also to our teams in Europe on projects. Procore is at the center of collaboration that activates this global pool of expertise.”
Industry Votes Procore as Top Construction Platform Solution
Procore was recently named the tenth best software company in the world on The Software Report’s list of 100 Top Software Companies of 2021, and received top honors from G2 in eight categories of software: construction management, construction project management, bid management, construction ERP, construction drawing management, construction accounting, punch list, and jobsite management software.
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.
Procore has announced multiple platform updates focused on document control, data security, and collaborative management features for its global user base.
How does Procore's (PCOR) platform support data privacy?
Procore's platform is designed to comply with regulations such as GDPR and CCPA, offering enterprise-grade security and privacy features.
How many projects are managed through Procore (PCOR)?
Procore supports over 1 million projects worldwide, demonstrating strong adoption of its construction management software.
How many cloud data centers does Procore (PCOR) operate?
Procore has expanded to a total of 15 cloud data centers which enhance speed and local data storage for their customers.
What impact do the updates have on Procore's (PCOR) customers?
The updates improve usability and collaboration for customers, allowing for a better management experience on construction projects.
