Verve Concepts Transforms Project Cost Management with Procore and Reduces Reporting Errors by 40%

The Challenge

Verve Concepts works in the fast-paced and high-pressure environment of prime residential construction, and has a focus on quality, excellence and attention to detail. Verve identified that using digital tools would allow it to achieve those objectives. However, the company faced challenges ensuring that documentation was up to date and relevant. Verve needed a document management solution to streamline its project documentation and allow it to be shared with the site and project teams as quickly as possible. With such a sharp focus on detail and quality materials, mistakes could be costly.

The Solution

Verve originally turned to Procore to solve its document management needs but soon discovered the platform’s robust cost management capabilities and adopted this in place of previous templates and other software. Now, Procore plays a key role in streamlining cost management across all projects. This has been developed further, using Procore across all departments within the business as an operational platform. Embracing fully digital ways of working has allowed Verve to adopt paperless operations in the office and on site, helping meet sustainability targets.

The Results

• Saved 20 hours of financial admin time each week
• Reduced financial reporting errors by 40%
• Improved efficiency of the payment application process by 30%

Simplified financial management

Procore’s cost management solutions have underpinned Verve for more than five years. The key benefit they deliver is transparency. “Project Financials gives us an up-to-date snapshot of each project and its health,” says Carly Doyle, Operations Manager at Verve. “It helps to create consistency across all projects while saving manual input time. I don’t think our procurement and commercial teams would function effectively without it now.” Using cost codes within Procore budgets has helped Verve to track and standardise cost information across projects. 

Everyone on the team and involved with Verve projects can access Procore, on laptops or on mobile devices on site, in the office or working remotely. That access to data enables the team to be more productive and focus on the all-important project details. “When searching for information, there’s no need to make calls and emails, losing valuable time — it’s all there in the Procore app,” says Doyle. 

Having all this data in one place saves the company around 20 hours of admin time a week. Procore has also reduced errors in cost management by about 40% through its consistent workflows and templates. Workflows also ensure that 100% of Verve’s orders are approved by relevant parties before work can progress. 

With everything managed using Procore Financials, all teams can review data to quickly see where items are and understand the commercial implications at a glance. That transparency extends across the whole organisation, from subcontractors on site to senior management. “The team can view live data at any given time,” says Doyle. “We can track costs directly and detect any issues or variances at an early stage.” 

Automated and efficient applications for payment 

Procore’s flexibility allows it to be tailored to suit the way each company works, which is something the Verve team appreciates. Customising the Procore budget tool to match Verve’s processes has also saved time on invoice management. Payment applications and certificates are created using Procore ahead of issuing to ensure that subcontractors and the commercial and accounts teams follow the payment application and invoice process. This reduces risk and generated a clear and streamlined process in which all parties are aware of the status at each step, providing clarity and confidence. 

This automation has streamlined the process for managing accounts and working with subcontractors: the standardised payment application process has increased efficiency by around 30%. Again, using Procore has improved transparency, because subcontractors know they must follow the process. “We aim to complete as much as possible through Procore,” says Abi Paxton, Operations Coordinator at Verve. “Our subcontractors are now all invested in it and see how it streamlines projects. Nothing gets lost in email chains.” 

Deeper insights from richer data 

With the financial activities that underpin its development activities running on Procore, Verve is now exploring ways to extend support to other parts of the construction pipeline. It is investigating how the Tender Management tool will improve the way it moves from the bidding and preconstruction stages of a project into the construction phase. “Developing Tender Management will allow us to complete the full 360 degrees of how we use Procore within a project,” says Paxton. “It will let us align with the rest of the company’s processes and mean smoother transitions when we start new projects.” 

Verve is also planning to use Procore Analytics to gain a better view of project data and help it make key business decisions with more confidence and speed. With additional data from earlier project phases available on the platform, the management team will gain deeper insights. “As a progressive company that has a culture of continuous improvement, Procore supports this and allows us to develop in our own way, not restricting us to limitations that stifle the company’s personality,” says Neil Adams, Co-founder and Director at Verve. “Procore has become an integral part of the company operations, elevating all departments and our ability to deliver for our clients.”