As one of the world’s largest sectors and contributors to the economy, the construction industry has rapidly adopted new ways to thrive; continuing to work productively while bringing in profit. Richard Robertson, Business Development Director at Cadline, provider of MTWO Complete Construction Cloud, discusses the vital role technology has to play in the future of the sector.
Businesses have been put under immense pressure as they have reacted to the sudden changes caused by Covid-19 this year. Business development is more crucial than ever as industries plan their recovery from the pandemic and look ahead to next year. Faced with getting ahead of competitors and saving on unnecessary costs as much as possible, technology’s role in accelerating business development is prominent. Technology is no longer a forward-thinking strategy, but essential to helping businesses thrive in a fast-changing world.
Technology to improve human efficiency
One common misconception of technology being used in the workplace is that it reduces the need for human employees, however, it can actually increase employees’ productivity and improve their work experience. By reducing the amount of time-consuming admin tasks, employees can free up their valuable time and focus their attention on larger projects in order to work more efficiently.
The construction sector has notoriously been slow to adopt new innovations and processes, so technology now plays a vital role in its future. An FMI Whitepaper found that 13% of E&C staff’s working hours are wasted on looking for data and project information. Compiling all data from multiple stakeholders in one central, digital platform means employees can access data quickly, in real-time, and remove the information silos that slow down construction projects. More efficient use of data will reduce risks, speed up project durations and increase productivity –helping businesses to thrive.
Faster decisions, stronger results
By utilising Artificial Intelligence technology, businesses can use data to their advantage by detecting early risks or performance anomalies in projects. Teams can view detailed performance insights in all areas that could otherwise take months to review, from scope and costs to schedule and safety. AI technology can provide data-driven decisions so employees can work smarter, safely and more efficiently.
Similarly, the pandemic would have halted productivity of construction projects where in-person site visits and meetings are no longer possible, meaning day-to-day tasks are slowed down and put under increased strain. This has highlighted the need for more digital processes – where multiple stakeholders can communicate and share information quickly and easily.
The industry has been catapulted into discovering the benefits of saving valuable time, money and resource as it prepares for a post-COVID future. Progressive companies, which adopt these types of platforms, will undoubtedly emerge stronger from this crisis.
While most construction and manufacturing sectors have continued to operate as normal throughout the UK lockdowns, a record number of industry firms have issued profit warnings this year. Concurrently, Cadline has seen rapid acceleration in the number of businesses adopting technology this year.
The number of users on its software MTWO, which increases productivity and collaboration by digitalising projects to bring all stakeholders together in one platform, has risen by 41% this year. This is from new businesses coming on board as well as existing customers migrating from other software, as firms seek to get to grips with new digital methods as early as possible.
MTWO is being utilised by a range of contractors, developers and asset owners in over 130 countries. The software supports projects and stakeholders involved in streamlined, digital collaboration, by boosting productivity and making up for lost time.