Procore Launches Workforce Management, a New End-to-End Solution for the Construction Industry

Rhea-AI Summary

Procore Technologies, Inc. (NYSE: PCOR) has launched its new Workforce Management solution, integrating Field Productivity and Workforce Planning tools to address the labor shortage in the construction industry. This comprehensive management solution provides contractors with real-time visibility into workforce capabilities, enhancing scheduling, tracking, and forecasting tasks. By streamlining workforce management, Procore aims to empower contractors to take on additional projects and improve operational efficiency. The solution is currently available in the U.S., Canada, Australia, and New Zealand.

Positive

• Launch of new Workforce Management solution aimed at tackling skilled labor shortages.
• Integration of Field Productivity and Workforce Planning improves scheduling and tracking capabilities.
• Real-time insights facilitate better decision-making and project management.

Negative

• None.

The solution helps contractors combat the labor shortage with workforce planning and field productivity tools

CARPINTERIA, Calif.--(BUSINESS WIRE)-- Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced the launch of a new solution, Procore Workforce Management, which features two key products — Field Productivity as well as, Workforce Planning, formerly known as LaborChart.

(Photo: Business Wire)

Paired together, Field Productivity and Workforce Planning offer the industry’s most comprehensive construction workforce management solution, allowing contractors visibility into their workforce to accurately forecast and manage human resources to help meet or beat estimated schedules and budgets.

“The skilled labor shortage is the most pressing challenge our industry faces,” said Tooey Courtemanche, Founder, President and CEO of Procore. “It’s also the number one thing stopping them from capitalizing on the massive demand that exists for construction. Our new Procore Workforce Management solution will help our customers manage their most precious resource more effectively, their people, so they can take on more work and ultimately grow their businesses.”

By enabling real-time capacity tracking without administrative burden, double entry, or complex spreadsheets, Field Productivity helps improve the following functions:

• Manage: Collect time easier and faster
• Organize: Uncover real-time labor productivity information to make daily decisions that can positively impact project schedules, budgets, and profitability
• Analyze: Access historical productivity rates by cost code to help bid future jobs more accurately and competitively

Workforce Planning creates a single source of truth for contractors to manage the most important asset — people. Unlike spreadsheets, whiteboards or in-house built solutions, Workforce Planning helps improve the following functions:

• Plan: Centralize scheduling and communication with real-time insight into workforce availability and skill set
• Track: Uncover how the workforce is performing by tracking employee time, out of scope work and materials installed to help maximize productivity and protect the labor budget
• Forecast: Use historical data to understand what resources are needed from one job to the next
• Connect: Integrate human resources and enterprise resource planning to provide one holistic business view

“The new Workforce Planning product provides real-time insights into scheduling resources and future labor requirements,” said Ben Schultz, former CEO of LaborChart and Procore’s new Head of Workforce Management. “The product not only gives contractors real-time, accurate data they need to power their workforce, but when combined with Field Productivity, it also creates an end-to-end Workforce Management solution for the entire industry.”

The solution is now available for customers in the United States, Canada, Australia and New Zealand. For Australia and New Zealand, the solution also includes an Equipment Management product.

For more information about Procore Workforce Management, please visit the Procore website.

Customer quotes:

“Right now, dwindling talent is plaguing the construction industry and there’s a future supervision shortage,” said Greg Crook, vice president at Guarantee Electrical Company, a specialty contractor based in St. Louis, Missouri. “Workforce Planning allows us to look at our talent pool, identify potential within our workforce, know when we need to create recruitment campaigns and develop future leaders.”

“Resource management and forecasting has always been a huge challenge,” says Tim Thompson, director for Prime Build, a general contractor in New South Wales, Australia. “If you have ten people trying to hop into an Excel spreadsheet, it’s a recipe for disaster. We can have the right conversations a lot quicker. Now, with a few clicks, we can be talking about the right things at the right time.”

“There are so many pressures in the world and around us to build faster, respond quicker — and this workforce management platform is a vehicle to do that, removing your whiteboards, your spreadsheets, and your Excels. It’s giving you a real-time database of information that anybody can pull at any time with the right user authority levels that you grant them.”

— Chris Martinez, president, Central Electric

"As a general contractor, our performance is our marketing; we let our work speak for itself," said Andrew Matheson, partner and director of finance and operations at CDC Construction in Canada. "Labour is critical for us, as our business depends on people. Workforce Planning is helping us improve our longer term resource management so we know when we'll have hiring requirements that need to be filled, and enhancing resource utilization with real-time schedule management."

About Procore

Procore is a leading global 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's App 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-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20220719005426/en/

Media Contact

Elizabeth Locke

press@procore.com

Investor Contact

Matthew Puljiz

ir@procore.com

Source: Procore Technologies, Inc.

FAQ

What is the new product launched by Procore Technologies?

Procore Technologies has launched a new Workforce Management solution integrating Field Productivity and Workforce Planning.

How does Procore's new solution help the construction industry?

The Workforce Management solution helps contractors manage labor shortages by providing real-time insights into workforce capabilities and improving scheduling, tracking, and forecasting.

Where is Procore's Workforce Management solution available?

The solution is available in the United States, Canada, Australia, and New Zealand.

What are the key features of Procore's Workforce Management solution?

Key features include real-time labor tracking, centralized scheduling, and integration with existing HR and ERP systems.

What challenges does Procore's new solution address?

It addresses the skilled labor shortage in the construction industry, enabling better workforce management and project execution.