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BONUS Interview - Procore (PCOR) CEO Tooey Courtemanche
May 18, 2022
Tooey Courtemanche, CEO of Procore Technologies, discusses the success of their construction management platform, the current state of the construction industry, leveraging technology for efficient construction sites, industry performance and indicators, enhanced offering and benefits, and the financial aspect of construction and digital transformation.
23:05
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Quick takeaways
- There is a high demand for construction projects, but a shortage of labor is hindering companies from taking on more projects, which Procore's construction management software aims to address by driving efficiency and enabling companies to do more work with less labor.
- The construction industry is highly resilient and adaptable, making it less susceptible to significant disruptions despite concerns over Shanghai lockdowns, which provides reassurance for investors in Procore's software platform.
Deep dives
Demand still outstripping supply in the construction industry
According to the CEO of Procore, Tui Kordam Manch, there is still a high demand for construction projects that exceeds the available supply in the industry. This indicates that the construction market is thriving. However, one challenge that construction companies face is the shortage of labor, which hinders their ability to take on more projects. Procore's construction management software aims to address this issue by driving efficiency and enabling companies to do more work with less labor. By streamlining processes and improving project management, Procore's software offers a solution to counteract the labor shortage and boost productivity in the industry.
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