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Thoma Bravo Insights explore news, trends and perspectives within our portfolio and across the software and technology industries.

Portfolio Spotlight

Today’s Portfolio Spotlight features Kofax, an intelligent automation solutions software provider for digital workflow transformation. Kofax has been helping organizations prepare for the future of work and supporting their digital transformation jou...

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Today’s Portfolio Spotlight features Foundation Software, an accounting software supplier for the construction industry. Throughout the COVID-19 pandemic, Foundation Software has been sharing insights on the state of the industry and offering free educational resources to help businesses navigate government programs and better understand key construction regulations.

  • Providing Industry Insights: In October, Foundation Software published its second annual Construction Business Report, which surveyed nearly 600 industry professionals on the state of their businesses and their technology and software use. The survey’s findings included 41% of respondents identifying communication and collaboration issues between teams as the biggest source of inefficiency for their business, and 42% of respondents stated that mobile features were very important when selecting software for their business. The survey also asked respondents to describe COVID-19’s impact to their business and share projections for how the pandemic will affect their business in 2021 and beyond. The survey found that a majority of respondents indicated that they have experienced some sort of decline in their revenue due to COVID-19, with 35% of respondents saying they have experienced no change to their revenue. Further, 39% of respondents also stated they believe that new projects will be harder to find in 2021 and beyond, and 35% believe that jobs will be canceled or postponed.

  • Sharing Educational Resources: Foundation Software also created a variety of educational materials for the construction industry throughout the COVID-19 pandemic, including an interactive U.S. map outlining COVID-related rules and regulations for the industry by state. Since April, Foundation Software has published several free webinars, which have included advice on how to navigate the Paycheck Protection Program and approach safety considerations and OSHA guidelines from a legal perspective. Foundation Software also created a COVID-19 Resource Center, where the company has been sharing key industry news related to the pandemic and official guides and application information on government pandemic aid programs.

We are so proud of the way that Foundation Software has been sharing its expertise with the construction industry during the pandemic. Thank you, Foundation Software!