Procore Technologies is working to authorize its construction management software with the Federal Risk and Authorization Management Program (FedRAMP).
The company has prepared tools, processes and methodologies to ready for FedRAMP compliance and has selected global cybersecurity and compliance company Coalfire to help it complete the FedRAMP authorization process, Procore Technologies said in a Tuesday (July 16) press release.
“The FedRAMP program establishes the gold standard for security, and with Coalfire’s partnership, we are well-positioned to offer our customers solutions that guarantee robustness, resilience and regulatory compliance,” Procore Chief Product Officer Wyatt Jenkins said in the release.
FedRAMP is the authoritative standardized approach to security assessment and authorization for cloud computing products and services that process unclassified federal information, according to the program’s website.
Procore aims to achieve the authorization to deliver the highest standards of security and data compliance for federal customers and contractors, enable standardized security and continuous monitoring across all the tools in its platform, and allow the public sector customers using its solutions to maximize their investment, according to the company’s press release.
Its supporter in its efforts to achieve FedRAMP authorization, Coalfire, provides compliance assessment and advisory services to more than 70% of FedRAMP-authorized providers and has had 100% of its submitted bids pass FedRAMP 3PAO (Third-Party Assessment Organization) audit, per the release.
Technology is meeting many challenges and driving improvements in several different aspects of the construction industry, according to the PYMNTS Intelligence report “Building Better Cash Flow in Construction With Digital Payments.” Construction companies are adding technology to accelerate payments, reduce financing costs and streamline back-office processes.
Adaptive announced Monday (July 15) that it raised $19 million in a Series A funding round to scale its artificial intelligence-powered financial platform for businesses in the construction industry. Adaptive’s platform is designed to help small- to medium-sized businesses (SMBs) manage the construction industry’s unique accounting and compliance requirements and solve its common payment delays and cash flow crunches.
In March, Built said it expanded its construction and real estate finance platform to meet the needs of real estate owners and developers.
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