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Contract Management

Contract Management

Keep a traceable paper trail, without the paper.

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Commit to efficiency and consistency.

Procore streamlines the process of tracking and distributing contract documents, change orders, and payment applications. Enjoy a collaborative platform for contract management with controllable permission levels to limit access and viewing rights to only your desired contributing personnel.

  • Create and track subcontracts and purchase orders
  • Manage potential cost impacts from start to finish
  • Speed up the approval process on contract documents
  • Submit payment applications
  • Monitor the status of payments

Commitments (Contracts and Purchase Orders)

Procore provides tools to create your contracts and purchase orders without having to compile multiple documents from multiple locations. Procore can be customized to produce your company's contract documents to streamline the process and ensure consistency across projects. In addition, contracts and purchase orders can be accessed from Procore's mobile apps, enabling your project staff to have instant access to items like a subcontractor's scope document from the field. The Commitments tool in Procore allows your teams to see the status and current value of all contracts and purchase orders. Easily pinpoint which contracts have been approved or determine the status of invoices and payments.

Change Management

Leverage the power of Procore's integrated product suites to ensure that potential cost impacts don't slip through the cracks. If you subscribe to Procore's Project Management product, you can streamline the change management process from identifying a potential cost, through initiation of a change order. For example, if you identify an issue that has a potential cost impact, you can create a change event directly from an RFI, or walk around the site using the mobile app to ensure that every potential cost is tracked. In addition, Procore does something no one else does. Our Request for Quote (RFQ) Tool helps you manage the entire process of sending RFQs, negotiating cost, and tracking which RFQs are still outstanding across all open change events. This gives you an end-to-end change management processing engine!

Payment Applications

Procore allows you to easily create client payment applications as well as receive payment applications from each of your commitments. Payment applications are formatted based on the industry standard G702/G703 progress billing and includes features such as retainage and stored materials. Procore can even generate a standard G702/G703 document that can be customized to meet your specific project or company needs. Additional documentation such as Lien Waivers can be attached to Payment Applications to allow all required backup to be submitted. In addition, configurable approval workflows streamline Payment Applications and provide visibility into the process for all parties.

Make signing documents a breeze

Printing, shipping, processing, and returning contracts could take weeks and reduces your efficiency. So we've made signing important documents easy with our integration with DocuSign®. This integration allows you to provide electronic signatures so you can now sign contracts (Commitments, Purchase Orders & Prime Contracts) anytime, anywhere, and on any internet-enabled device. Reduce your risk, lower your costs, and get quicker turnaround times with a more efficient and track-able process and instead spend more time on higher value tasks like budgeting, forecasting, and project managing!

“Procore is not going anywhere, so we can revisit this project in 10 years and still see all our old documents.”

Tony Joyce

AvalonBay Communities

FAQ

What is contract management?

Each party to a construction contract owes it to themselves to ensure they deliver the promises they made in the contract. But they also must be sure to hold the other parties to the terms of the contract. Whether called contract management or contract administration, it is the process of adhering to the contract while holding other parties accountable.  

Who uses contract management?

Each party to a contract can use contract management. Owners usually initiate the contracts for their projects and they will include many aspects both they and contractors must deliver. General requirements, for example, will include specifications on prices, payment, value analysis, administrative requirements and quality requirements. Supplementary conditions specify health/safety requirements, security requirements and dispute resolution processes. Contractors must adhere to the requirements, and they must also ensure the owner honors their commitments in the contract. Subcontractors will also have contracts with the general contractor to manage.

Why use Procore’s contract management software?

Procore’s contract management makes it easy to track and distribute contract elements like submittals, change orders and payments. You can create and track subcontracts and monitor potential cost aspects of the project from start to finish. You can use tools to create contracts and purchase orders and also track their value. The Request for Quote (RFQ) Tool helps you manage RFQs, from sending them to negotiating costs. You can track RFQs that are still outstanding across all open change events. Most convenient is that you can sign contract documents using DocuSign so you can avoid the entire process of printing, sending, processing and returning commitments, purchase orders and prime contracts.

What are some benefits of using Procore for contract management?

A big benefit of using Procore for contract management is the tracking. You can always know the stages of each contract and contract deliverable, so there are no missed deadlines leading to disputes and claims. Because Procore is cloud-based, you have access to your contract data anytime and anywhere, with any device. Another huge benefit is being able to streamline change management all the way from estimating the extra cost to creating the change order. You can manage a change right from an RFI, or directly on a mobile device as you survey the work. When you use Procore, you also have lots of help. From a world-class support team to a community of users, when you need answers they are never far off.

Does the Procore contract management tool use industry standards?

Procore contract management conforms to G702/G703 progress billing. It includes features such as retainage and stored materials. You can use Procore’s contract management to create standard G702/G703 documents and customize them to fit your specific project or your company needs. You can also attach additional documentation like lien waivers to payment applications. You will have configurable approval workflows to streamline payment applications and improve transparency for all parties.

Can Procore’s contract management tool be integrated with other products?

Yes. Procore to date integrates with dozens of apps, including accounting apps, bidding platforms, estimating and takeoff apps, progress documentation trackers, resource management apps. and scheduling apps including Microsoft Project and Primavera P6. Other integrations include analytics, BIM, consultants, devices, drones, field communications, quality, safety and many more.