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What can Procore's Financial Consultation Package for Main Contractors include?

Are you interested in learning more? Procore Consulting Services is an add-on service. To learn more about the pricing option for this service or to request a time estimate for a potential engagement, please reach out to your Procore point of contact.

 

 

Background

As a main contractor, tackle your next strategic challenge and keep your team on track by engaging with Procore's Strategic Consulting Services. The Strategic Product Consulting Team is comprised of Procore Industry experts who specialise in implementation best practices, product strategy assessments and training management. 

Answer

Procore's Financial Consultation package is an add-on service focusing on Procore's Financial Management tools. This package helps clarify your financial vision—whether you want to see your team's buyout savings, track labour productivity, share allowance and contingency data with clients and more.

The table below shares just a few examples of how Procore customers can begin an engagement with Procore's Strategic Product Consultants (SPCs).

Buyout Savings Potential benefits of your engagement…
  • How can I track my construction project's buyout savings?
  • Learn best practices for tracking your buyout status—identify your savings or loss at the start of each scope, understand how this affects your overall project and apply these learnings during the preconstruction phase on your future projects
Contracts Potential benefits of your engagement…
  • How do I track unsigned contracts?
  • Can I see which unsigned contracts are outstanding?
  • Do we have too many outstanding contracts?
  • Monitor the progress of your project's buyout process by exploring strategies geared towards reducing the risks and unanticipated cost and programme impacts associated with delayed contractual agreements.
Budget Management Potential benefits of your engagement…
  • How do I track the impact of our project's variation costs before they become variations?
  • Discover methods that provide early insights into unexpected variation costs.
  • Maintain visibility into your costs throughout the change management process.
  • How can I track projected over/under costs to show monthly trends?
  • Gain early insight into potential cost overruns that impact projected profit. 
  • How do I track revenue versus costs?
  • Monitor savings throughout the project lifecycle to support profit projections.
Labour Management (Requires Procore's Field Productivity Tools) Potential benefits of your engagement…
  • How can I track the impact of our 'General Conditions' hours before those hours get processed through accounting?
  • Explore how to monitor your project's labour costs in real-time to minimise your risks for costly budget overruns.
  • For self-performed work, how can I track the financial impact of our productivity?
  • Gain greater insight into your project's production rates and cost projections to make better decisions that maximise your profit margins.
Allowance & Contingency Tracking Potential benefits of your engagement…
  • How can I share the amounts used and amounts remaining with my clients?
  • Increase awareness among project stakeholders to maintain efficient decision-making processes. 
Variations Potential benefits of your engagement…
  • How do I track unsigned variations?
  • Which variations are unsigned?
  • Do we have too many outstanding variations?
  • Help to reduce the risk of potential cost increases and programme impacts due to delayed variations.
  • How much am I making/losing due to out-of-scope variations? 
  • Learn methods to help ensure that your client's changes aren't coming out of your project’s profit.
  • Discover common themes for changes that erode your project's savings and potential profit. 
  • How do I identify which subcontractors have the highest variation amounts relative to their contract(s)?
  • Improve the accuracy of your budget determinations during the preconstruction phase.
  • Understand the budget risks associated with particular subcontractors during the buyout phase.
Payment Applications Potential benefits of your engagement…
  • Are we overbilling or underbilling?
  • Discover methods to help your project stay cash-flow positive.
ERP Integrations Potential benefits of your engagement…
  • Avoid the need to sync an ERP job to Procore by creating a Procore project before your contract is awarded. 
  • Will syncing my Main Contract with an integrated ERP system benefit me?  
  • Save time and eliminate double-entry by learning how to sync your project's main contract and variations with your integrated ERP system.
  • What is the difference between a Bill of Quantities (BOQ) and a Subcontractor Bill of Quantities (SBOQ) and should I enable an SBOQ?
  • Learn ways to limit the number of BOQ line items in your accounting system when creating payment applications for your commitments.
  • Should I add/import my budget in Procore or to my integrated ERP system?
  • Weigh the pros and cons of providing your Product Managers the ability to import their project's budget vs. having your accounting team create it in your integrated ERP system.
  • How do I properly track and sync financial markup on Potential Variations (PVs) or Main Contract Variations (MCVs)?
  • Discover how to achieve a more seamless integration by establishing the proper routes for financial markup on your Estimate and Main Contract.
  • How does syncing my commitment payment applications with a supported integrated ERP system benefit me?
  • Save time and eliminate double-entry by learning how to sync your project's commitment payment applications with your integrated ERP system.