by JEFF WEISS, CMiC
This article was published to the CMiC blog on February 23, 2016.
Despite the fact that the construction industry has become increasingly competitive and saturated in the years since the Great Recession, and how much evidence has come through regarding technology's ability to improve performances, the industry remains far behind the pack in terms of adoption. Back in 2012, Engineering News-Record reported that construction firms spent the least on technology out of all industries as a percentage of their revenues.
Interestingly, For Construction Pros reported on a Gartner study earlier this year and found that while the industry still does not spend much on technology, relevant businesses that do invest can enjoy significant improvements to their profit margins. Regardless of which market segments a given firm focuses its efforts on, construction management technology should be viewed as a worthy investment and one that ought to be made in the near future to boost competitive edges.
Adapting to modern demands
InformationWeek recently explained some of the ways in which the business world has evolved in the past few years, asserting that the average workplace has effectively broken down the walls of the traditional office thanks to new technologies. This goes for all industries, though construction has long been rooted in field work and a multitude of projects going simultaneously in various areas, making it especially in need of the right management solutions.
According to the news provider, one of the challenges involved that is not to be overlooked is the need for managers and supervisors to champion new technologies and maximize employee engagement with the solutions in use. Administrative and project manager staff members in construction alike will often find this to be a difficult endeavor, but can overcome the issues by taking a user-centric approach to investment decisions, deployment methods and service delivery frameworks.
At the end of the day, new technologies will only help drive profit margins in the right direction when they are used frequently.
Following the successful implementation of modern construction management and accounting solutions, firms will likely want to boost access to these systems among their field workers and supervisors. Mobile devices can inherently boost engagement among the modern workforce, and the right solutions will be optimized for use on smartphones, tablets and portable computers.
With the right managed service provider, construction firms can successfully use modern technologies to bolster their operational productivity, efficiency, accountability and performance at large.