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Trimble's New SaaS Solution to Boost Construction Offerings

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Trimble Inc. (TRMB - Free Report) has been making advances in the construction sector in order to gain further momentum among contractors.

In sync with this strategy, the company unveiled a new Software-as-a-Service (SaaS) solution - Trimble WorksOS. This new solution integrates design data from the office with Trimble’s machine control data to deliver progress and productivity updates in real time.

The solution enables construction project managers and site supervisors to log into a single application for viewing real-time work. They can now track the completed and remaining work, as well as measure the progress of the work done, among others, thereby increasing productivity at the jobsite.

The new software will help managers and supervisors monitor the jobsite work with more constructible and actionable models, thereby increasing efficiency as well as productivity of the jobsite.

Bottom Line

This latest launch should bode well for Trimble’s increased focus on strengthening footprint in the construction sector on the back of its expanding construction software portfolio.

We believe the SaaS solution is likely to be a strong addition to the company’s Connected Site ecosystem for managing construction technology, which enables contractors to efficiently conduct critical work.

On a further encouraging note, the company has been making a lot of efforts to enhance overall offerings. It unveiled a software named Farmer Core, which aids in automatic synchronization among guidance lines, field names, boundaries and landmarks, among others, in order to expand the agriculture business.

In addition, it unveiled a cloud-based application, WorksManager Software, which allows contractors to manage data and technology assets across various construction sites with ease.

All these strong endeavors will continue to expand Trimble’s product portfolio, and are expected to aid its performance and serve customers better.

Zacks Rank & Stocks to Consider

Currently, Trimble has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Dropbox (DBX - Free Report) , Etsy, Inc. (ETSY - Free Report) and Intuit Inc. (INTU - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth rate of Dropbox, Etsy and Intuit is pegged at 34.4%, 26.5% and 12.3%, respectively.

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