Foundation Software Strengths, Domain Expertise, and Key Differentiators
Foundation software is a fully-integrated construction accounting system that uses Microsoft's SQL Server and suits a wide range of construction trades. The system includes: Job Costing, Payroll, General Ledger, Accounts Payable, Accounts Receivable, Purchase Orders/Subcontracts, and CPA Audit/Review; plus it features the built-in Genie's series of custom report and import/export designers. Optional add-on modules include Service Dispatch, Document Imaging & Routing, the Executive Dashboard, Project Management, Scheduling, Equipment, Time & Material, Inventory, Fixed Assets, Unit Price Billing and Consolidated General Ledger.
Foundation Software Recent Developments
In October 2021, McCormick Systems released Version 15.0 of their estimating software, the latest update to the nation’s leading estimating software for the electrical, plumbing and mechanical industries.McCormick Version 15.0 features new change order management, an executive dashboard and an enhanced integration with FOUNDATION accounting software.
FOUNDATION is used by commercial, government, prevailing wage and industrial contractors that range widely in trades and sizes. The system is developed, sold, and supported by Foundation Software, a single-owner family company with over 34 years of industry experience. Foundation Software offers complete support with expert training, professional consulting and continuing education.
Foundation Software Mergers and acquisitions (M&A) Activities
In May 2021, Foundation Software, LLC announced the acquisition of McCormick Systems, a developer of estimating and digital takeoff software based out of Chandler, AZ. This acquisition strengthens Foundation Software’s ability to serve the construction community and become a provider of back-office solutions for contractors. McCormick Systems is a well-known, trusted, and respected vendor in estimating and digital takeoff for the electrical, plumbing and mechanical trades. By adding McCormick’s suite of products and their expert staff, Foundation continues to diversify with industry-specific, best-of-breed technologies that serve the needs of contractors nationwide
Foundation Software Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Foundation Software applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Foundation Software and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified FOUNDATION Software customers.
Foundation Software Overview
Ownership: - x
Number of Employees: 300
Functional Market: Payroll,
Key Verticals: Construction,
Foundation Software Key Cloud and HCM Applications
Foundation Software HCM and Cloud HCM Applications Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Foundation Software Revenue Breakdown by Type:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Foundation Software HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2021 HCM Revenues, By Sub-Functional Markets, $M
Foundation Software HCM Applications Revenues By Verticals, $M:
Foundation Software Total and HCM Applications Revenues by Region:
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 HCM Applications Revenues, $M|
Foundation Software Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Foundation Software Customers - Breakdown by Geo, Size, Vertical and Product
No. of Foundation Software Customers: 2500
No. of Foundation Software HCM Applications Customers: 2500
No. of Foundation Software Cloud HCM Customers: x
No. of Foundation Software Cloud HCM Subscribers: x
Foundation software has 2500 clients across the United States. The plan is to expand that number across the whole world.
Foundation Software Market Opportunities, M&A and Geo Expansions
In March 2021, Foundation Software, LLC unveiled a Purchase Order and Subcontractor Module integration with Procore, a leading provider of construction management software. The new PO/Sub feature integration gives users the ability to sync all of their vendor contacts for the job directly from Procore into FOUNDATION. They will also have instant functionality to resolve discrepancies with authoritative vendor records and the most up-to-date info.
In 2018 Manzama and Foundation Software have partnered to allow a real-time integration of Manzama data into the Foundation Firm Intelligence platform. The new integration enables law firms to add key information from the Manzama Intelligence Platform to client profiles in Foundation, providing a holistic view of clients for all firm stakeholders.
Foundation Software Risks and Challenges
Changing in management team could lead to a different company strategy.
Foundation Software Ecosystem, Partners, Resellers and SI
In December 2018 Foundation Software invested $9.5 million in expanding its presence in Strongsville. Foundation Software provides job cost accounting, project management, and mobile software and services tailored to the construction industry. Founded in 1985, the company has grown, on average, 20 percent annually since 2010, consequently outgrowing its Strongsville headquarters location. It will not only expand its current facility, which it shares with sister company Payroll4Construction.com, but also add at least 185 new positions over the next five years in addition to retaining its current 298 employees.
Foundation Software Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- Foundation Software Public Cloud and Infrastructure (IaaS)
- Foundation Software Platform (PaaS)
- Foundation Software Application Delivery
- Foundation Software Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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