The construction industry is at the crossroads of enormous change. Archaic methodology is heading to the wayside and new technology trends are emerging, making successful project completions easier to achieve than ever before. Technology in the construction industry makes the most of limited resources, improves safety, and documents and coordinates every step of a project. According to McKinsey, investment in construction technology has doubled in the past decade.
So why is construction still among the least digitized sectors in the world when technology has proven time and again to be the best solution available? Not utilizing technology in construction can result in poor project management and execution, insufficient skills, inadequate design processes, and underinvestment in skills development. As the construction sector continues to shift away from old methods and toward new technology, multiple positive trends are emerging, improving efficiencies across the board:
- Risk Mitigation: The amount of risk involved with construction projects can have a direct impact on the success or failure of that project. By using construction technology, you’re better able to plan and execute risk mitigation strategies, like addressing risk early, communicating with your team, and implementing a risk mitigation process.
- Improved Collaboration: A collaborative, transparent approach to construction is the wave of the future, and technology is leading the way. Total project visibility from the top to the bottom (including owners, lenders, contractors, and subcontractors) is one way construction projects are becoming more efficient thanks to technology in the field.
- Automation: Automating certain aspects of a construction project improves accuracy and helps avoid common and costly errors that can derail a project. By automating repetitive tasks and setting automatic reminders on a project, human error decreases, deadlines are hit, and timely and relevant data can be analyzed in real-time.
What Are You Waiting For?
Technology in the construction industry helps companies stay competitive and grow revenue thanks to real-time reporting, and results in overall savvier asset allocation and project planning. So, what are you waiting for? Don’t get stuck in a slow-to-adopt cycle, and instead, head into the future with construction technology that makes your work more efficient and successful. Capture the future’s opportunity with DrawAlert: A Construction Administration Software that helps to save time, reduce costs, and improve results in the field.
Schedule a demo today to learn how DrawAlert can make your next construction project more efficient.