Future-Proofing Technology in Your Construction Business

Introduction

With technical innovations constantly transforming the construction business at an exponential rate, it’s important to keep pace with these changes and evolve as quickly as possible. Drones, AI, and BIM (Building Information Modeling) have all been game-changing technologies in recent years, bringing unprecedented levels of sustainability, efficiency, and safety to construction processes. Using these innovations in operations and strategy, you can reap the benefits of future-proofing your construction business by staying competitive, efficient, and secure.  

If you ever feel that your construction business lacks efficiency in responding to opportunities and threats, then you might also be facing these issues:  

• You don’t have direct access to real-time data at multiple business levels, making decision-making difficult.  
• Project teams find it challenging to collaborate and communicate with each other effectively. 
• Compliance management is faulty because systems are disconnected, and it’s hard to track documents and updates.  
• Your business continuously loses money on costly rework or mistakes in paperwork. 
• The project insights you receive are insufficient, arrive too late, or don’t result in practical outcomes. 

If any of the issues above ring a bell, chances are your construction business needs some future proofing to work optimally. This can be difficult to accept and even harder to fix, but we’ll dissect the long-term benefits, practical tips, and the difference a good construction management software like BUILDFitters can make. 

What Are the Benefits of Future Proofing Your Construction Business?  

Most construction projects have net profit margins of less than 5%, which means there is very little tolerance for error and almost no protection against unforeseen disruptive factors. Contractors are concerned about several issues, including global trade uncertainty, fluctuating material costs, and increased competition. Under these economic concerns, construction businesses should turn to technical solutions to support profitability and maintain their competitiveness. Here are some benefits of future-proofing your construction business: 

• Streamlined Management of Business Data: Real-time data collection technologies offer a significant edge in terms of rapidly arriving at the best decisions. Businesses have the greatest chance of reducing damages by obtaining early, reliable information, regardless of the cause—stocking errors or complete supply chain outages. All-important corporate data can be managed more efficiently using cloud-based construction management solutions, like BUILDFitters, negating the need to purchase expensive hardware like on-site servers. Furthermore, the ability to run your company from any location makes it simple to act in any circumstance. 

Learn how predictive analytics can change the game of your business data in seconds. Read our recent blog post: Stay Ahead of The Curve: Leveraging Predictive Analytics in Construction. 

• Automated Construction Management: It may seem obvious, but one of the first things any company trying to future-proof its organization should do is to be able to access all important data regarding business performance through a central system. Organizations can address problems considerably faster with cloud-based construction management software since they can spend less time gathering this data from various sources. A well-organized system for managing your firm can also help you save time and money on routine administrative activities. Keeping overheads low during lean periods is crucial to sustain profit margins. 

Let’s take a practical example of automated purchase order management. A construction management software solution that includes a well-designed purchase order system, like BUILD Fitters, will guarantee smart budget allocation, reduced waste, and project budgetary compliance. This system will also ensure everyone heading your construction pipeline, from contract managers to stakeholders, knows how well the budget is being utilized.  

Want to further explore the ROI impact of efficient purchase order management? Read: Streamlining Construction Purchase Orders with Technology.  

• Improved customer experience: Future-proofing your construction business with an integrated construction management system will enhance the client experience, streamline routine procedures, and keep track of company performance. Building trust requires providing a reliable service regularly. This can be crucial to staying above the water in turbulent times.  

Lead with Innovation in Construction Management! 

Your projects demand the best, and BUILDFitters delivers exactly that. With a focus on the unique dynamics of construction management, BUILDFitters equips you with the tools, analytics, and insights to not just keep up but lead with innovation. Ready to revolutionize your approach? 

 

Tips on How to Future Proof a Construction Company 

 

Approximately 400 construction SMBs went out of business in just one month- April 2022. These stats underscore the importance of being prepared for unforeseen circumstances in smaller businesses. Future-proofing construction businesses can be the line between success and failure, both now and in the future. But this requires time and money investment.  

Here are some of the best tips and practical suggestions you can use to future-proof your construction technology in 2024.  

1. Implement Building Information Modelling (BIM) 

Building information modeling, or BIM, is one of the most exciting developments to strike the construction industry. It has completely changed how projects are completed. This advanced application simplifies the process of creating and maintaining digital representations of a location’s functional and physical attributes. Using 3D modeling software, building experts can see an idealized virtual reality setting and quickly detect any possible problems with design, construction, or operation. Construction professionals can avoid costly mistakes and save time and money during the building process by proactively resolving any issues before the construction even begins. Consequently, BIM is an essential part of any forward-thinking construction company as it not only improves building processes’ accuracy and efficiency but also has the potential to save a significant amount of money while being implemented. 

2. Take Advantage of Artificial Intelligence (AI)  

Artificial intelligence (AI) has emerged as a disruptive force in the construction sector, offering opportunities to speed up mundane activities, analyze massive amounts of data effectively, and improve decision-making processes. AI serves multiple uses, including risk management, project scheduling, and safety surveillance. By examining both the current and previous project circumstances, artificial intelligence (AI) can foresee future delays or accidents. AI-powered devices and robots can carry out labor-intensive and hazardous jobs more safely, reducing worker injuries while boosting productivity. As a result, integrating artificial intelligence into construction procedures could help save money and accelerate completion dates while substantially improving efficiency. 

Need some insights into AI-powered construction project management? Here’s everything you need to know:  Revolutionizing Construction Project Management With AI. 

3. Using Sustainable Construction Practices  

Adopting sustainable practices in the complicated field of construction involves more than just following green building guidelines. Crucial components of sustainability include creating an eco-friendly business strategy and training a competent workforce. Construction companies can achieve long-term success by implementing sustainable practices, benefiting not just the firm but also its workforce and the environment as a whole.  

Trends like green building and sustainable construction are shaping the 2024 construction sector. Here are some sustainable construction trends that you can hop on to future-proof your construction business:  

• Green buildings: The concept of green buildings fosters the development of construction methods and material procurement strategies that are also changing to minimize waste, energy use, and other bottlenecks on job sites.  
• Net-zero buildings: When constructing a net-zero building, consideration is usually given to all aspects of the structure’s life cycle, from waste management and continuous energy consumption to the procurement of materials and construction.  
• Green roofs: Another prevalent green construction idea for 2024 is green roofs. Green roofs are today’s most advanced and environmentally conscious construction techniques. It can be covered totally or in part with flora.  
• Passive design: Passive design refers to a design approach that considers the local environment to assist in maintaining appropriate building temperatures without any extra cooling or heating, which can result in energy and cost savings. Using green walls and roofs to cool a structure naturally is one example of a passive design strategy.  

4. Investing in Your Workforce  

Establishing a profitable construction company requires investing in your workers. Ensure that your workforce can obtain innovative technical skills and industry knowledge through employee training and development. You can create a stimulating and engaging work environment by promoting a work culture that values cooperation, innovation, and continuous development. Promoting technical advancements like artificial intelligence (AI) and drone technology may help your business stand out in a market that is becoming more and more competitive.  

Future Proof Your Construction with BUILDFitters 

Having a partner with forward-thinking solutions in the fast-paced construction industry is extremely important. With an all-in-one construction management software, BUILDFitters is that partner, offering a complete, future-proof solution that goes beyond simply just being a tool. BUILDFitters ensures that your first impressions leave a lasting imprint by filling the sales process gap immediately with its better bid management and proposal development.  

BUILDFitters becomes the hub of your operations as projects move from idea to construction, easily coordinating teams and data. It’s critical to stay on track during the construction phase to stay within project goals, schedule, and budget. Here, BUILDFitters really shines, optimizing processes and guaranteeing effective resource utilization. This also ensures you are being accountable in terms of sustainability. You are using a paperless documentation system, automating tasks that eat up fewer resources and produce less amount of waste.  

Managing the construction phase is only the beginning of the journey. BUILDFitters facilitates the post-construction phase, allowing for a smooth transfer to later projects and the digital transformation of business units. Its user-friendly dashboards promote productivity, improve teamwork, and streamline project administration. It uses predictive analytics, BIM, and artificial intelligence to keep you ahead of the competition in terms of analytics.  

BUILDFitters enhances your company model by integrating essential procedures and streamlining operational flows. BUILDFitters is an essential partner in developing a resilient construction management business because it guarantees that your company is actively influencing the future rather than just preparing for it. 

Conclusion 

The construction industry is undergoing tremendous change, so it’s critical to ensure that your company is utilizing technology to keep up with the developments and prevent your team from falling behind in this quickly expanding market. Get a free one-hour demo from BUILDFitters if you’re interested in reaping the benefits of future-proofing your construction business to modernize your construction processes with technology.  

See the Benefits of Future-Proofing Your Construction Business Now! 

The future waits for no one, especially not in the fast-paced world of construction. BUILDFitters offers more than just software; it provides a pathway to integrating advanced, future-proof strategies into your construction management processes.