Procore Technologies, Inc. is a leading provider of cloud-based applications for construction.
Procore’s homegrown billing system couldn’t support their scale objectives and planned international expansion.
Zuora provides Procore with a flexible enterprise order-to-cash platform to help them achieve their growth trajectory.
Following its implementation of Zuora, Procore achieved its fastest revenue close to date.
Procore Technologies, Inc., is a leading provider of cloud-based applications for construction, connecting people, applications, and devices to help firms manage risk and build quality projects. Procore has more than 2 million users managing billions of dollars in annual construction volume.
The high demand for its flagship product, which empowers construction firms to simultaneously manage multiple projects as seamlessly as possible, lead Procore to launch its first international office this year in Sydney, Australia. Zuora provided Procore with a flexible enterprise subscription platform to support its accelerated international expansion plans and faster time to market.
They also needed greater operational efficiency. They had a homegrown system -- but it was inadequate to support their scale objectives. They needed more automation and more efficient order and financial close processes.
“Once our breakneck pace surpassed the capabilities of our homegrown system,” says Kevin Spinelli, Senior Director of Financial Systems at Procore “we selected Zuora to support our aggressive growth initiatives.”
Procore went live on the Zuora® quote-to-cash platform in April 2017. Since that time, they achieved a record breaking number of bookings. In addition, “In just three months we also improved the efficiency of our financial close processes,” said Spinelli, taking their monthly close process down from 8 days to 2!
To support their international expansion, Zuora helped Procore iterate on its product catalogue to bring more varied pricing and packaging plans to customers. This has also decreased the time required to set up and launch pricing tailored to new geographies.
With the help of Zuora, Procore has achieved greater financial efficiency by streamlining critical processes in the order-to-cash architecture including the automation of revenue recognition and collections, the end of customizations in Salesforce, the addition of billing amendments, and the seamless integration with existing back-end systems and taxation tools.
And last, but certainly not least, according to Spinelli, “Zuora functions as our system of record for measuring bookings, churn, and retention - the metrics that truly matter for a subscription business.”
As a result of its operational efficiency, powered by Zuora, Procore is well positioned to continue its growth and market leadership. Procore is committed to bringing the Subscription Economy® effect to a market ripe for innovation. And Zuora is committed to supporting them, every step of the way.
“In just three months we’ve improved the efficiency of our software orders and financial close processes.” – Kevin Spinelli, Senior Director of Financial Systems at Procore.
“Zuora functions as our system of record for measuring bookings, churn and retention – the metrics that truly matter for a subscription business.” – Kevin Spinelli, Senior Director of Financial Systems at Procore