1 Minute Read
July 6, 2022
If the pandemic has shown us anything, it’s the importance of innovation and adaptability. The world moves fast these days. Firms that fail to evolve run the risk of falling behind. Construction technology has always been a worthwhile investment. Now, it’s an essential one.
Whether future challenges are unexpected or long foreseen, investing in tech is an effective way to future proof your firm’s profits no matter what’s around the corner. Here are the top five benefits of moving to the cloud for ANZ contractors.
Agile working methodologies have become the norm across many industries, but they haven’t always felt like a natural fit in the construction industry. Incremental working patterns that maximise stakeholder feedback are great when you’re developing software but not so great when you’re already halfway through building an extension to an office’s fourth floor.
But that doesn’t mean an agile approach won’t work. Agile project management is a great way to manage input from stakeholders during the planning and development phase. You gain valuable insight that ultimately leads to a better product. And, perhaps most importantly, you keep the client happy. With the right cloud software, agile workflows can enrich a project without disrupting it at a critical phase.
Cyber threats are something your firm should be taking very seriously. In the 2020/21 financial year, the Australian Cyber Security Centre received over 67,500 cybercrime reports, up 13 per cent from the previous year. Ransomware attacks were also up 15 per cent year on year, leading to data losses and downtimes. In the construction industry, where every lost day affects a project’s bottom line, the impact of cyber threats can be disastrous.
Construction firms should be taking action to beef up security against cyber threats. Investing in a trusted cloud software partner that understands the importance of your data and provides best-in-class secure cloud platforms is an absolute no-brainer.
Harnessing data can revolutionise the construction industry, improving productivity, reducing risk and letting firms work smarter. Thanks to cloud-based tools like business information modelling (BIM) technology, firms are gaining a clear, holistic view of their projects. As outlined by McKinsey, the use of data is one of the emerging disruptions shaping the industry. Firms that fail to do so will find it hard to compete.
The key is, having the right technology to analyse this data. Firms that embrace a digitised approach to data collection and invest in a cloud software partner that helps them analyse projects will be able to streamline processes, find efficiencies and make better decisions. The result is better projects delivered on schedule.
The construction industry is responsible for 9 per cent of Australia’s total Gross Domestic Product, which equates to $360 billion in revenue. The Australian Industry and Skills Committee expects this to grow by 2.4 per cent over the next five years. Clearly, there is plenty of work to be done. But is there enough talent to do it?
Skills shortages have been described as the “challenge of the decade” for the construction industry, with forecasts predicting 100,000 unfilled roles by 2023. Firms need to be proactive to make sure they’re perceived as attractive places to work, especially by younger generations. Cloud construction technology is one way to do so. Investment in automation, robotics, augmented reality and other advanced technologies can increase the appeal of your construction firm.
Driving innovation in the construction industry can feel like an uphill battle, but that doesn’t mean it’s not important. As projects get bigger and more complicated, firms will find the ideas, technologies and processes of the past aren’t always suitable.
Firms need to innovate to survive the future, which means embracing and investing in cloud construction technology now. Technologies like predictive artificial intelligence, machine learning and the internet of things can help make firms innovative environments.
As the construction industry continues to move on from the pandemic era, innovation and adaptability remain crucial. Business leaders need to continue to consider cloud construction technology advancements and their potential practical uses. While not all challenges can be foreseen, continued investment in construction technology is the best way to future proof your firm’s profits.
For more information on construction technology, head to Trimble Viewpoint.
1 Minute Read
July 6, 2022
5 Minute Read
December 15, 2021