While investing in new shiny software is certainly the trendy thing to do right now for CEOs, simply launching digital initiatives and hoping they deliver business results is not enough.
In fact, launching digital initiatives without a clear roadmap and a way to accurately measure their effectiveness could lead to a colossal waste of time and money.
In order for Engineering, Procurement and Construction (EPC) organizations to grow their bottom line and make smart business decisions, CEOs and leaders must first gain and fully grasp a holistic view of what “going digital” really means. What going digital means for one company is not the same as another, so creating a realistic and comprehensive roadmap is vital to avoid implementation fails and to achieve long-term success.
Once your company has evaluated legacy systems and developed a clear a roadmap for digitalization, you would have to find software and systems that can effectively deliver on you and your goals.
This means having metrics in place that can accurately measure its performance.
How do you do this? McKinsey & Company provides a chart of five broad markers that accurately assess progress.
Once companies know what to measure, leaders can build their integrated technologies to track and analyze these measurements from the front and back-office and on the field site.
The good news? There are solutions available for EPC companies that utilize the five markers above and streamline supply chain operations, manage specialty contractors, handle risks, optimize construction processes and increase profitability.
In addition, there are solutions specially available for EPC companies that define measures to analyze and reflect the performances of these four benefits:
Optimized field resource utilization: Schedule the right materials with the right person, predict the most efficient routes to customer site and increase daily order completion rate with real-time resource management and scheduling engines.
Built-in AI & Analytics: Make intelligent decisions with built-in AI, analytics and reporting that can be published and shared from the field.
Flexible Integration: It doesn’t matter if you are an on-site worker, off-site worker, in Finance, HR or Senior Management. You can adapt your business requirements by integrating applications with existing systems to make sharing and collaborating easier than ever before.
Control over Finances: Whether it’s Cost Breakdown Structure (CBS) management, project costing, EAC and variance projections or budget vs. actuals, find a solution that provides transparency to all project stakeholders so they can make precise decision-making on project deliveries.
Ready for an all-in-one business management cloud solution for construction & engineering? We are here to help.
About CEM Business Solutions: Based in Montvale, NJ, CEM Business Solutions is a Microsoft Gold Partner with nearly 20 years of experience offering integrated, high performance solutions to enhance business objectives. Since 2003, our dedicated consulting team has rolled out more than 350 implementations across 20 countries and 3 continents.