On June 17, Procore announced new proprietary capabilities that are in testing on its platform.
Owner tools are powered by Procore’s AI agents to serve owners throughout the capital lifecycle of construction projects, from initial planning through construction delivery and long-term operations.
Called “concept projects,” the first owner tool is designed to evaluate early-stage initiatives alongside active work, compare investment options and route decisions through approval workflows before capital is committed.
The second tool is “portfolio monitoring,” which provides centralized visibility into the budget, schedule, and risk of active projects. The capability allows owners to track performance in real-time and analyze project details when issues arise.
The third capability, “owner central,” provides customized dashboards that surface information that requires attention, from financial trends to schedule performance and risk. Views can be configured by role, so leaders see insights relevant to their decisions.
The final offering, capital planning, was created to forecast future expenditures, prioritize investments, and align long-term plans with active projects.
Capital planning was designed to track where project funding comes from and how it is spent, helping owners manage multiple sources of funding, compliance and financial accountability. The feature is essentially an asset management tool that helps owners maintain digital records of their assets throughout the project lifecycle, linking equipment and spaces with documentation, maintenance history, warranties and project information needed to support decisions during construction and operations.
Looking for quick answers on construction and engineering topics?
Try Ask ENR, our new intelligent AI search tool.
Ask ENR →
“Homeowners don’t wake up worried about a single project,” he says Geoff Lewis, Senior Vice President of Product at Procore. “They’re thinking about hundreds of millions, sometimes billions, of capital spread across an entire portfolio. We’re building capital portfolio management capabilities right into Procore to give owners that visibility in one place.”
Procore’s platform has long been used by large construction organizations and developers to monitor project health, despite its initial focus on the construction phase and adding these capabilities.
The Owner Center, Portfolio Tracking, Concept Projects, and Asset Management are all in beta, with general availability expected later this summer. Capital planning and funding source management are expected to enter beta later this month, with general availability expected by the end of 2026.
“Using Procore has really helped us make strategic planning decisions about where we want to spend capital to grow the business and focus on putting good money to work,” says Marc DiGuiseppe, vice president of project delivery at developer Catalyze, which used the new owner’s capabilities in the product testing phases.
