This announcement represents a single point in time. Future releases may impact the information below.
Closed Beta Announced: February 16, 2022 | Limited Release Started: July 14, 2022 | Limited Release Updated: August 29, 2022 | Annoucement Updated: October 24, 2023
Phased Release Started: Monday, October 3, 2022
Procore is pleased to announce the start of a phased release for the new Budget Changes feature. Designed to replace Procore's existing budget modifications feature in the future, the new 'Budget Changes' concept provides your team with greater flexibility by eliminating the rigid data entry requirements associated with the existing experience.
With this new feature, users now have the flexibility to configure the business logic that Procore uses to predict the Rough Order of Magnitude (ROM) impact of budget changes on your project's budget. For example, if you have an 'Out of Scope' budget change that will be adding revenue to your project, your team can tie the 'Budget ROM' value to 'Revenue.' Similarly, if you have an 'In Scope' budget change requiring you to add money to a work package from a contingency fund, you can also tie the 'Budget ROM' value to 'Cost.'
After creating a budget change, Procore also automatically creates a linked change event for you, so you can take advantage of Procore's change management feature.
Key features added to Procore include the ability to:
Below is a look at how the new columns look when a budget view has been updated to include the new columns and is assigned to the view in the project's Budget tool. To learn how to add these new columns, see Add the Columns for the Budget Changes Feature to a Budget.
Below is the 'Create New Budget Change' page in the project's Budget tool.
Below is an example of the new Budget Detail pop-up window in the Budget tool.
Below is the 'Financial Impact' card, included in the Create New Change Event page in the Change Events tool.
Below are the new 'Budget ROM,' 'Budget Change,' and the 'Latest Budget Impact' columns in the Change Events tool.
You can also edit the line to update the Budget ROM value using the options in the new 'Budget ROM Source' window.
Please be aware of the following limitations:
To learn more about the budget changes feature, see the links below:
Procore Tool | Tutorials |
---|---|
Company Admin | |
Budget | |
Change Events | |
Procore Analytics | |
Workflows |
Yes. Procore's new Budget Changes feature was designed in response to user feedback and is a substantial upgrade to budget modifications. Procore is working with all Procore customers to migrate their existing budget modifications data to the new budget changes format. Procore is providing customers with more than one (1) year to complete this migration process by November of 2024.
The new Budget Changes feature is designed to replace the existing budget modifications feature. Starting in October 2022, Procore will be working with Procore customers to migrate their existing budget modifications data to the new format required for the Budget Changes feature by November of 2024. Once you complete this migration, you will no longer have access to the budget modifications feature. If you have any questions before your company starts the migration, contact your Procore point of contact.
To learn about the migration process, see Migrating to Budget Changes from Budget Modifications.
Yes. Your Procore API endpoints will need to be updated as follows:
Procore is notifying our customers now that the following endpoints are listed as deprecated in the Reference documentation on
developers.procore.com. Procore expects to sunset these legacy endpoints in November of 2024:
Yes. If you have a Procore-built integration and you have completed the migration process, you can sync budget changes with the ERP Integrations tool.
No. If you have completed the migration process, you will no longer be able to sync your budget modifications data with the ERP Integrations tool.
Yes. The migration process also requires the users at your Company to use the modernized Change Events experience. To learn about the experience, see Project Financials: Modernized Change Events Experience.
If you have included budget modifications in your existing reports, you will need to be aware of the following:
Budget Snapshots
Budget modifications will continue to be available and reportable.
Budget changes will show once new snapshot(s) are created.
Budget modifications are removed.
Budget changes are included if users add a 'Budget Changes' column to their custom reporting view. See Set Up a Budget View for Custom Reporting.
Budget modifications are removed.
Budget changes are NOT supported by your existing Company and Project level reports.
To preserve your historical budget modifications data, always download a copy of your reports before performing this migration.
If you have legacy reports that contain budget modification data, please note that you will need to recreate those reports if you want them to include budget changes. To quickly re-create those reports after the migration, it is recommended that you download your existing report(s) to use as a reference.
Procore Analytics
Budget modification dashboards will be hidden.
Budget changes dashboard will show historical data.
If you would like to ask questions or share any feedback, please contact support@procore.com.