Denver, Colorado — September 27, 2022 —Xero, the global small business platform, has partnered with leading global provider of construction management software, Procore Technologies, Inc., to provide a new integration between Procore’s construction financial management solution and Xero’s cloud-based accounting platform.
The new app integration is now available on the Xero App Store in the United States, Canada, the United Kingdom, Australia and New Zealand. It helps solve some of the biggest challenges small and medium construction firms face by enabling them, and their advisors, to connect field and back office teams with real-time, accurate, financial data in the cloud. This in turn supports the delivery of multiple complex projects on time, and on budget.
Kris Lengieza, global Vice President of Partnerships and Alliances, Procore, said: “Procore is excited to partner with Xero, one of the world’s leading small business accounting platforms. Together we are bringing an integration to market that helps accountants, bookkeepers and business operators working in construction improve communication and workflows with their cohorts in the field. With our integration, Xero and Procore customers can rally around a single source of truth when it comes to financial data, which ultimately empowers teams to make more informed decisions.”
According to McKinsey, the construction industry accounts for 13 percent of global GDP, but productivity has grown by just one percent annually over the past 20 years and digitalization is lower than in nearly any other industry.
Chris O’Neill, Chief Growth Officer at Xero, said: “Digitalization and the adoption of cloud tools has the potential to transform the construction industry and make a real impact to the efficiency of individual firms. By partnering with Procore on this app integration, we’re enabling construction project leads to make better informed, data-driven decisions, so they can help tune their operational efficiency, mitigate project risks, and better scale their business.”
Xero is a global small business platform with 3.3 million subscribers which includes a core accounting solution, payroll, workforce management, expenses and projects. Xero also provides access to financial services, and an ecosystem of more than 1,000 connected apps and more than 300 connections to banks and other financial institutions. Through Xero’s open platform, small businesses can connect to a range of solutions that help them run their business and manage their finances. For three consecutive years (2020-2022) Xero was included in the Bloomberg Gender-Equality Index. In 2021, Xero was included in the Dow Jones Sustainability Index (DJSI), powered by the S&P Global Corporate Sustainability Assessment. Xero has been named as a FIFA Women’s Football partner under FIFA’s new commercial structure.
Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe. Learn more at Procore.com.
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