StructShare | September 30, 2022
Atlanta Electrical Contractors Association (AECA) today announced a partnership with StructShare, the leading provider of purchasing and material management software. StructShare will grant special offers to members of the innovative chapter of the National Electrical Contractor Association (NECA) in the Atlanta region, to enhance effectiveness and accelerate supply chain management and cost tracking.
"We seek partnerships with those contractor-focused vendors who we can rely on to offer the best to our members, Our members will benefit greatly from this relationship, We provide our members access to resources that will help them thrive in their business."
-Joey Shorter, Executive Director of the AECA.
Over the past few years, AECA members have used StructShare to streamline the entire purchasing cycle, connecting the office, the field, the warehouse, and their suppliers on a centralized, mobile, and cloud-based platform. StructShare makes an antiquated and cumbersome process much easier for the field and office by digitizing field requisitions, approval flows, POs, RFQs, deliveries, and invoice reconciliation while integrating all data into the common ERP and project management systems.
According to NECA research, processing a single PO costs electrical contractors $42. Taking into consideration the amount of POs generated, this adds up to an undebatable pain that must be solved. AECA member and StructShare customer, Cariboo Industrial Electric has immediately maximized efficiency by eliminating double entry and overhead as well as received inventory visibility, seamless cost tracking, and preventing errors across the entire workflow.
StructShare, a powerful purposely-built solution, offers end-to-end procurement, materials, inventory, and costs management. The flexible system is used by subcontractors of all sizes from $1-million in revenue to some of the largest in the country.
"After working with the AECA team and members for a long time, I am excited to officially establish the partnership and provide the members with a tailored solution to their needs."
-Or Lakritz Co-Founder and CPO, StructShare.
AECA has a reputation of providing members with outstanding benefits and services including safety classes, professional and leadership development, education and training, as well as networking events. StructShare contributes to these efforts with technology and procurement education.
We are honored to be a part of AECA, states StructShare CEO and co-founder, Arik Davidi. We've enjoyed the work with our Atlanta-area customers and look forward to bringing the same success to others in the region.
About Atlanta Electrical Contractors Association:
AECA is the leading, professional trade association representing, promoting, and advancing the electrical contracting industry in Georgia since 1929. AECA leads the industry in the practical application of new and emerging technologies in the construction industry and the public it serves.
StructShare is a construction software company based in Austin, Texas and Tel Aviv, Israel, building digital solutions for specialty contractors to maximize efficiency and reduce costs.
RedTeam | August 16, 2022
RedTeam, a leading construction management software platform provider, is pleased to announce an integration partnership with Sage Intacct, the market leader for cloud-based integrated accounting, payroll, and payment systems.
RedTeam has partnered with Sage for many years, supporting contractors throughout North America using Sage 100 Contractor and Sage 300 CRE. Integration with Sage Intacct and designation as a Sage Marketplace Partner enables RedTeam to serve the Sage user community better and expand its presence in the market with a superior combined offering - RedTeam and Sage.
RedTeam complements traditional accounting solutions by tracking every aspect of the creation, negotiation, and execution of contractual agreements, then archiving complete sets of documents along with comprehensive digital audit trails for each. RedTeam engages every member of construction business organizations — field, front office, back office — with enterprise-wide workflows to facilitate broad situational awareness, support data-driven decision-making, and ensure optimal operating efficiency.
"It's not all about the office or the field. Our contracting roots taught us that teams must be in sync. Connecting the entire team is RedTeam's strength."
-Michael Wright, founder, RedTeam.
RedTeam and Sage worked closely to deliver integrations with all three of Sage's construction accounting solutions, designed to leverage the unique functionality of each. "We are excited about our expanded partnership with RedTeam and the new integration capabilities, as it enables our customers to utilize RedTeam's best-in-class features for creating and managing contracts and commitments," said Dustin Stephens, Vice President of Construction and Real Estate at Sage. The new integration facilitates interoperability allowing Sage users to choose the accounting platform that best meets their current business needs while providing flexibility to adapt to future demands without the risk of disrupting jobs in progress.
"RedTeam and Sage's commitment is to deliver real-world solutions for their clients, RedTeam's comprehensive suite of cloud-based solutions delivers the powerful tools general contractors need to enhance efficiency and collaboration throughout all project stages. Supporting project teams with the right information at the right time is essential to drive successful project outcomes and protect profits. RedTeam's integration with Sage Intacct is a critical step to make a meaningful impact on the people who create our built environment."
-Jim Atkinson, CEO of RedTeam.
RedTeam's suite of construction solutions features products ranging from field-management software to enterprise-level workflow and management solutions. RedTeam appeared on the Inc. 5000 list of the fastest-growing companies in the United States in 2020 and 2021. Over 1,000 general contractors and over 100,000 users manage a collective $25 billion of commercial construction work with RedTeam.
RedTeam is committed to construction management excellence. We built our software from hands-on experience to help contractors face the day-to-day challenges of commercial construction. RedTeam clients experience seamless management of projects on and off the field with real-time collaboration, expedited contracting, compliance, and change management. RedTeam is construction management software built by contractors who understand construction.
Procore | September 21, 2022
In partnership with Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, FMI Corp. released the results of The State of Global Preconstruction Report. This report discusses the current environment for preconstruction and the characteristics of organizations that do it well, including what constitutes above-average preconstruction processes and the effects of efficient and digitized preconstruction.
This report, sponsored by Procore Technologies, is authored, researched and published by FMI, a leading consulting and investment banking firm dedicated to serving companies working within the built environment.
This year, Procore partnered with FMI to survey 979 construction industry stakeholders worldwide. Participants were asked to describe the preconstruction practices in their organizations, tools and technologies, project experiences and outcomes.
“The results from the State of Preconstruction survey are clear: investing in preconstruction can provide tangible returns on profit, schedule and client satisfaction, Many of the most successful contractors around the world focus their efforts on preconstruction because ultimately, better planned projects drive better outcomes. Data shows that organizations are willing to invest in preconstruction, and construction is not slow to adopt technology but waiting for the right tech for their businesses. We’re proud to invest in Procore's Preconstruction solution, which can help users manage designs, estimates, bids, and budgets across projects on one, integrated platform.”
-Tooey Courtemanche, founder, president and CEO of Procore.
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.
FMI is a leading provider of consulting and investment banking services to the built environment. We provide services in the areas of strategy, leadership and organizational development, performance, technology and innovation, mergers and acquisitions, financial advisory and private equity financing.
H&E Equipment Services | October 04, 2022
H&E Equipment Services Inc. (“H&E” or the “Company”) (NASDAQ: HEES) today announced the completion of its acquisition of One Source Equipment Rentals Inc. (“One Source”), effective October 1, 2022. With the closing of the transaction, H&E adds 10 equipment rental locations to its branch network, including initial locations in Illinois, Indiana, and Kentucky. In addition, the Company will supplement its operating presence in the southern U.S. while adding approximately $138 million in fleet as measured by original equipment cost.
“The acquisition of One Source demonstrates our commitment to growth through expansion into highly prospective geographies and complements our successful warm start strategy. This year, we have announced eight branch additions through September, including recent openings in Hollywood, FL; New Castle, DE; and Indio, CA. Our expansion into the Midwest and further penetration into the southern U.S. positions H&E for increased participation in the non-residential construction and industrial end-markets. The Company remains committed to further growth of its pure-play rental business and other strategic initiatives.”
-Brad Barber, chief executive officer of H&E.
Following the closing of the transaction, H&E’s equipment rental operations extend across 120 branch locations in 29 states.
About H&E Equipment Services, Inc:
Founded in 1961, H&E Equipment Services Inc. is one of the largest rental equipment companies in the nation. The Company’s fleet is among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving and material handling equipment, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest, and Mid-Atlantic regions.