Construction is a complex field full of data, yet many companies struggle to use their data to drive better business outcomes. While most other industries have seen a double (or greater) increase in productivity since the early ‘90s, construction has remained almost the same.
However, construction technology has been proven to increase organizational efficiency when it is used strategically, bringing the industry back into alignment with the 1.7x growth in productivity of other industries. Lack of IT implementation was one of the largest contributing factors, accounting for 39.1% of stagnation.
Top 5 Impediments & Inefficiencies Solved Through The Implementation Of Construction Technology
As technology has become more integrated with workflow and processes over the years, an increasing number of studies have sought to document its effects. In particular, this research has revealed five common inefficiencies that technology is quickly helping to solve. If you are experiencing slowdowns or challenges in any of the following areas, consider how construction technology might be able to help.
Time Management & Load Balancing
Employees are the backbone of any company, and an employee workflow that is lagging will cut down on everything from productivity and profits to morale and longevity. Through ERP software, companies in the construction industry can utilize dashboards to track employee performance, compare employees’ workloads and balance work, and monitor project progress.
The data collected in this way can be used to create incentives for employees who meet deadlines and complete projects on time. Not only does technology equip companies with the ability to offer such bonuses, but it ensures that they are fairly awarded and properly motivated according to true and accurate metrics.
Of course, budgeting is another common snag in the construction industry. Construction companies use several estimation techniques, which range in speed and accuracy. Construction software can assist project managers with real-time labor data, budget tracking, and cost forecasting to ensure that they are making the best decisions for the company. This includes anticipating when a job is not worth a bid or when adjustments need to be made during a project.
A data silo is a subset of information that is controlled by one department of an organization and to which other departments do not have access. This can cripple a company by isolating critical data from the decision-making process of other departments.
Implementation of construction software can eliminate data silos between departments throughout the organization, thereby reducing inaccurate data entry and improving company-wide data visibility. It also improves decision-making abilities among C-level executives, who can see the bigger picture – either through more correct reports from their department heads or through a company-wide database.
Use Of Multiple Software Platforms
As technology evolves, it is common for companies to selectively adopt the tools they need—until they are left with a conglomeration of less-than-compatible systems. One unified construction software solution can eliminate the need for multiple platforms by including all of the functionality needed by the organization in one place. This will not only make work more streamlined, but also reduce the money and time needed to train employees on various platforms.
Inability To Access Files & Data Remotely
Construction projects have employees out of the office much of the time. With cloud-based construction technology, organizations are able to access all of their files and data, regardless of where they are located.
This equips them with the data they need while out in the field, and also enables managers and executives to access critical information remotely so that decisions can be made quickly.
Speak With Experienced Construction IT Strategy Consultants Today
It can be difficult to determine how to use technology to drive and enable your business goals. Whether you need to develop your construction technology strategy from scratch or are looking to upgrade and improve your current processes, the IT strategy consultants at Hartman Executive Advisors can offer guidance to keep you competitive and help you leverage your data for better decision-making.