Toronto, ON — The past year accelerated the need for technology within the construction industry and according to a new report, it is factoring heavily into how businesses are approaching 2021 and beyond.
Procore’s annual Unlocking the ROI of Construction Technology looks at how leaders in the construction industry are driving positive results — with the use of Procore technology — in their business during a year of unprecedented challenges.
This year’s report surveyed 4,784 Procore customers from North America (including Canada), South America, Asia, Europe, Australia and the Middle East.
Some key findings include:
- Respondents had a notable focus on communication after a year of navigating the pandemic. In fact, the word “communication” was mentioned in 548 responses.
- 79 per cent reported improved communication for a remote workforce. This was consistent across businesses of all sizes, including:
- 80 per cent of general contractors surveyed
- 77 per cent of owners surveyed
- 76 per cent of speciality contractors surveyed
- An overwhelming majority of respondents (89 per cent) said they have more standardized processes
- 71 per cent said they met or exceeded profit goals
Canadian respondents (who make up more than 10 per cent of the total surveyed) said that Procore helps better manage change orders (85 per cent), that Procore helps them own their project data (86 per cent), and that the platform’s financial tools have improved transparency between project management staff and accounting (80 per cent).
“This year’s global ROI report, Unlocking the ROI of Construction Technology, helps codify what many in the industry have experienced,” said Jas Saraw, Vice President, Canada, Procore. “In construction as in many other sectors, ‘communication’ has been the watchword since the pandemic began. The industry has unique challenges in connecting field and office workers, and we believe the shift to modern solutions has been accelerated.”