Procore Releases 2020 Customer Return On Investment Report
Responses Demonstrate How Procore Connects People and Processes on a Global Platform to Drive Better Business Outcomes
Procore, a leading provider of construction management software, today released its 2020 Customer Return On Invest (ROI) report. The report analyzes responses from a survey of 651 Procore customers – including general contractors, specialty contractors, and owners of all sizes in North America, Asia Pacific, and Europe. It explores how customers are leveraging the Procore platform to gainma competitive advantage.
Procore is transforming construction – one of the oldest, largest, and least digitized industries in the world. Our construction platform connects entire project teams, from the office to the field and across companies, providing one place to work together to do what they do best – build. Procore enables key stakeholders (owners, general contractors, specialty contractors, architects, and engineers) to collaborate across locations and devices. Our platform helps customers increase productivity and efficiency, reduce rework and costly delays, improve safety and compliance, and have more financial transparency and accountability.
Today, the construction industry represents about 13% ($10 trillion) of global GDP and employs 7% of the global workforce, and it’s expected to grow. Despite this, construction productivitymhas failed to keep pace with overall labor productivity growth rates.InmFrance, Japan, and the United States, construction labor productivity growth has declined over the past two decades.
While this presents an industry-wide challenge, it offers a unique opportunity for construction businesses.
The Procore 2020 ROI Report focuses on five areas where customers reported seeing benefits to their business through the use of technology, including:
Optimizing people and processes
Getting more done, faster
Mastering the art of efficiency
Connecting on a global platform
Gaining a competitive advantage
Key takeaways from the report show that Procore customers are experiencing:
Improved efficiency: Procore customers report streamlined processes and reduced turnaround times, saving on average four and a half days on Change Orders, and three days on RFIs and Submittals.
Reduced risk: Procore customers mitigate risk by enhancing three key areas, with 84% of respondents reporting improved project visibility, 87% reporting improved standardization, and 70% stating they have more protection in litigation.
Protected profits: Procore customers report that teams accomplish more work while keeping their staffing costs low, with 83% of all respondents reporting an increase in confidence of meeting project goals.
Procore is for all stakeholders in construction - owners, general contractors, specialty contractors, architects and engineers. To learn more about how you can leverage Procore and maximize your investment in technology, download the Procore 2020 ROI Report today.