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Portfolio Financials and Capital Planning: Release Notes

A list of release notes for the Portfolio Financials and Capital Planning products in Procore.

Recent Changes

Remove Bidder Contacts from a Bid Room (10/16/2020)

You can now remove previously invited bidder contacts from a Bid Room. See Remove Bidder Contacts from a Bid Room in Portfolio Financials

Link Projects and Share Users Between Portfolio Financials and Project Management (06/08/2020)

For accounts with access to Procore's Portfolio Financials and Project Management products, Project Admins can now link projects between the two areas of Procore. See Portfolio Financials: Link Projects and Share Users Between Portfolio Financials and Project Management. After a project has been linked, an 'Open' button shows on the Home page of both products, which will allow users to quickly switch between areas without needing to log in again or manually navigate to the other site. 
Note: Linking Portfolio Financials and Project Management projects together does NOT transfer, copy or show project data from one area to the other.

Create Templates for Project Cost Reporting Views (04/17/2020)

To expand on the new Project Cost Reporting feature in Portfolio Financials, Procore has added the ability to create templates for reporting. See Create a Project Cost Reporting View in Portfolio Financials. Templates can be created by Company Admins in the Project Cost Reporting Templates section of Company Settings.

Self-Serve Approval Workflows (04/15/2020) 

Procore has added a new Self-Serve Approval Workflows feature to Portfolio Financials that allows Company Admins to create custom approval workflows for reviewing or approving items. See Approval Workflows and What should I know about Approval Workflows in Portfolio Financials? These workflows can be simple or complex, and can be used for items in Portfolio Financials such as bids, contracts, budgets, change orders, and invoices. Previously, approval workflows could only be created and managed by Procore. This release allows you to create and manage your own workflows, whenever necessary.

DocuSign Integration for Contracts and Change Orders (04/07/2020)

Procore has added a DocuSign® integration for Portfolio Financials tools that allows users to send and sign contract and change order documents in Procore electronically through DocuSign. See Portfolio Financials: DocuSign Integration for Contracts and Change Orders. Once the integration is enabled by your Procore point of contact, contracts and change orders can be sent from Procore to DocuSign so that they can be reviewed and signed by designated contacts. 

New Export and PDF Customization Options for Contracts and Change Orders (04/07/2020)

Procore has added the ability for contracts and change orders in Portfolio Financials to be exported to PDF or DOCX files. See Portfolio Financials: New Export and PDF Customization Options for Contracts and Change Orders and Export a Contract in Portfolio Financials. Previously, the only way to export information from the contracts in Portfolio Financials was as the SOV, and the contract or change order document itself could not be created or exported within Portfolio Financials. With this release, the contract and change order PDF/DOCX file can now be generated directly within Portfolio Financials and exported as a PDF or DOCX, allowing users to leverage the information in the system and reduce double entry.

Unified Access and Design (03/24/2020)

With Portfolio Financials and Capital Planning (formerly Honest Buildings) now being part of Procore’s unified platform for owners, we have applied an updated look and feel that is consistent with all Procore products for web. The design changes are purely cosmetic and do not directly affect product usage or functionality. See Portfolio Financials and Capital Planning: Unified Access and Design.

Project Cost Reporting (03/12/2020)

Procore has developed a new feature, Project Cost Reporting, which allows for more robust and flexible reporting that incorporates all elements of the cost of a project. See What is Project Cost Reporting in Portfolio Financials? and Configure and Export a Project Cost Report in Portfolio Financials. This information is available at various levels of detail and includes all financial data points (such as allocations and accounting codes) that exist in the system. With Project Cost Reporting, you can more quickly and easily analyze and export financial data from Portfolio Financials. This feature also provides improved access to financial data for creating Project level reports, and expanded flexibility in how data is organized.

Ability for Vendors to Invite a Team Member to a Tender (03/02/2020)

If you are a vendor and receive an invitation to bid in Procore, you can now directly invite other members of your company to the same bid. See Add a Bidding Team Contact to a Bid Room for a Portfolio Financials Project

Updates to the Vendor Collaborator Dashboard (02/20/2020)

Procore has updated the Vendor and Collaborator Dashboard to make it easier for everyone to locate and view the information that is relevant to them. See Portfolio Financials: Updates to the Vendor Collaborator Dashboard. Previously, items on the dashboard were organized on one page, which often required continuous scrolling. 

The updated dashboard is organized in a more user-friendly grid format with filters and sortable headers to allow projects to be located more easily. These filtering options available depend on your role. For example, if you are a vendor, you can now filter projects by 'Status' or 'Building'. If you are a collaborator, you can now filter projects by 'Company' or 'Building'.

New Unit of Measurement Option (01/14/2020)

A setting has been added to Portfolio Financials and Capital Planning that allows users to switch between square meters and square feet. See Portfolio Financials and Capital Planning: New Unit of Measurement Option. Previously, only square feet was an option, which meant that users would often need to manually convert square feet to square meters. The unit of measurement selected will automatically be converted, and will be reflected in the following areas: the project page, the Budget tab, the edit/add project modal, and Reporting in Capital Planning.

Cash Flow Forecasting Automatic Spread (01/16/2020)

Procore has developed a new feature for Capital Planning that allows users to automatically spread the remaining Forecast to Complete amount across the remainder of the project's timeline, based on a pre-determined forecasting curve. See Spread Cash Flow Forecasts in Portfolio Financials and Capital Planning. Prior to this feature, users needed to manually adjust their forecast, month by month, and line item by line item.

With the automatic spread feature, an entire project can be forecasted in a matter of minutes. After the appropriate forecasting curve has been selected, the values remaining to be filled (months that have not been contracted or spent yet) will automatically be filled with the value based on the chosen curve.

Cost Tracker Column Configuration (01/08/2020)

Procore has developed a new feature for the Cost Tracker that allows Company Admins to create custom column configurations that will be available for Project Admins to select at the project level. See Create a Cost Tracker Column Configuration in Portfolio Financials. Previously, columns on the Cost Tracker were fixed, which could be challenging if you are tracking a wide range of projects with different cost tracking and reporting requirements. The additional options introduced with this feature provide more flexibility in how you can track costs and the information seen when viewing a project.