QuoteToMe Launches Procore Integration

Rhea-AI Summary

QuoteToMe partners with Procore (NYSE:PCOR) to enhance procure-to-pay automation for the construction industry. The partnership aims to streamline procurement processes, potentially saving contractors up to 15% on materials while reducing time spent on sourcing by 75%. This integration enables users to create purchase orders via mobile or desktop, connecting seamlessly with Procore's Project Financials. Enhancing operational efficiency, it addresses the inefficiencies of traditional workflows that result in substantial waste in the $10 trillion construction market.

Positive

• Partnership with Procore enhances efficiency in procurement processes.
• Potential cost savings of up to 15% on materials for contractors.
• Reduction of sourcing time by 75% through automation.
• Seamless integration allows for better project management and visibility.

Negative

• None.

Partner Product Integration Will Provide a Procure-to-Pay Automated Solution for Construction Companies Using Procore

EDMONTON, Alberta--(BUSINESS WIRE)-- QuoteToMe, a leading provider of procure-to-pay automation software, today announced a new partnership with Procore (NYSE:PCOR), a leading global provider of construction management software. QuoteToMe's integration with Procore will help increase efficiency for contractor businesses looking to improve their procurement processes.

Construction is a $10T/year global industry, over $1T is spent on materials and equipment in the US and Canada alone. Due to an inefficient incumbent procure-pay workflow, the result is billions of dollars of waste on project overspend and re-work. The construction industry standard for procure-pay workflows includes manual non-centralized communication (phone, text, email) between project teams and suppliers, many paper-based processes, and little to no visibility between contractor departments (field, office and accounting).

Using QuoteToMe’s end-to-end platform consistently saves contractor field and office teams 75% of the time spent to source goods and process purchase orders (POs) and creates up to 15% cost savings on materials and equipment.

The integration between QuoteToMe and Procore helps effectively eliminate data entry and frees time for project managers and site supervisors. Using the QuoteToMe app, field and office users will have the ability to create purchase orders from their mobile devices or desktop computers that can automatically sync with Procore’s Project Financials product.

“Today, we welcome QuoteToMe to a global ecosystem of over 300 Procore App Marketplace Partners,” said Jas Saraw, VP Canada, Procore. “The seamless integration of QuoteToMe with our platform can save our customers time and money, allowing them to protect their profit margins and reduce the administrative burden of procurement.”

“Creating a seamless product experience for Procore users unlocks value for all. Our go-to-market and product strategy places a strong emphasis on integrating with leading software companies, like Procore,” said John Chabluk, QuoteToMe’s founder and CEO

QuoteToMe’s product is a fit for self-performing general and sub-contractors across all four customer segments: Emerging, Mid-Market, Major and Enterprise. Contractors’ clients annual revenue volumes ranging from $15M/year to $1B+.

The benefits of this new integration include:

• Request quotes from your preferred material and equipment suppliers, manage purchasing approvals, and enforce purchasing limits.
• Send completed purchase orders, invoices, and related documents directly to Procore.
• Create POs commitments directly from QuoteToMe's mobile app to capture receipt-of-goods documents on-site or in the store.
• Rapid onboarding of new contractor customers.
• QuoteToMe syncs and makes Procore project, supplier, and cost code data available to users on-site or in the office through our web and mobile app.

About QuoteToMe

QuoteToMe is a technology company creating innovation for one of the biggest industries on the planet. We have re-imagined how materials, equipment, and services are sourced and paid for on construction projects by helping contractors buy better. Our mission is simple: We are digitizing the construction procure-to-pay workflow by creating a network that connects transaction stakeholders.

QuoteToMe is a privately owned company, with industry leading equity partners including: Builders VC, Blackhorn Ventures, Argonautic Ventures, Azure Capital Partners and the Stanford University Farmers Angel Investment Club. Learn more at quotetome.com

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 in the United States, Canada and around the globe. Learn more at Procore.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220817005173/en/

John Chabluk

QuoteToMe, Inc.

204-960-4486

jchabluk@quotetome.com

Source: QuoteToMe

FAQ

What is the new partnership between QuoteToMe and Procore (PCOR)?

QuoteToMe has partnered with Procore to integrate procure-to-pay automation for construction companies.

How will the integration with Procore benefit contractors?

Contractors can save up to 15% on materials and reduce procurement processing time by 75%.

When was the QuoteToMe and Procore partnership announced?

The partnership was announced on August 17, 2022.

What is the stock symbol for Procore?

The stock symbol for Procore is PCOR.

What industry does the integration between QuoteToMe and Procore target?

The integration targets the construction industry, which is valued at approximately $10 trillion globally.