Construction techDealmakingProptechProptech

QuoteToMe announces Procore integration partnership

Partnership aims to improve contractor's business efficiencies and procurement processes.

QuoteToMe, a construction procure-to-pay workflow automation software provider, today announced partnering with construction management proptech Procore Technologies, Inc., according to a press release.

The company says the aim of the integration partnership is to help drive contractor business efficiencies and improve procurement processes, claiming that inefficient procure-pay workflows result in billions of dollars of project overspend, re-work and waste every year.

It says the new integration will enable contractors to request quotes from suppliers, manage purchase approvals and impose purchasing limits. The statement says users will also be able to send purchase-related documents to Procore, create POs, onboard customers and sync Procore user’s “project, supplier and cost code data” via its website or app.

Construction is a $10 trillion per year industry, with a $1 trillion expenditure estimated to go to materials and equipment in the U.S. and Canada, the release explains. QuoteToMe says the industry relies on communication between project teams and suppliers, includes extensive paperwork and does not have much visibility between contractor departments (i.e. field, office and accounting).

The company says its product currently spans across four customer segments, including emerging, mid-market, major and enterprise, and notes that its contractors clients’ annual revenue volumes range from $15 million per year to over $1 billion.

“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,” said Jas Saraw, vice president of the Canada office at Procore, in the release.

QuoteToMe claims to cut down 75% of the time for these teams while sourcing goods and processing purchase orders, and says it also saves an average of 18% of the cost spent on materials and equipment. Its website illustrates an average savings of 1,320 hours on labor and $726,985 on materials and equipment.

The new integration will enable the two companies to reduce data entry for project supervisors as they could use the QuoteToMe app to create purchase orders from cell phones or desktops that will automatically sync with Procore’s Project Financials product, the release says.

“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, founder and CEO of  QuoteToMe, in the statement.

QuoteToMe’s equity partners include Builders VC, Blackhorn Ventures, Argonautic Ventures, Azure Capital Partners and the Stanford University Farmers Angel Investment Club.

Procore also recently announced the appointment of Steve Davis as its president of product and technology. In this role, Davis will be leading the company’s product, design and engineering teams. He would also design strategies to execute Procore’s product offerings for its 13,000 customers.

In other recent proptech news, Inc. released its 2022 list of 5000 America’s fastest-growing companies and their growth. Agora, the real estate investment management proptech, raised a $20 million Series A led by Insight Partners.

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