Between architects, engineers, project managers, foremen and individuals controlling back-end processes, stakeholders in today’s engineering, procurement, and construction companies are varied and scattered. As companies embrace digital tech such as smart watches, drones, AI and IoT-enabled devices, there is a spurt in data production. With multiple players and complex layers, data will continue to be dispersed across environments, making real-time data hard to access. Also, there are fresh challenges that come with connecting isolated systems into one cohesive integration.
That’s what we call “disconnected ecosystem” – an unintegrated collection of insights and analytics, that experts call as a top challenge for Construction Management Software companies.
Collecting data between multiple systems and platforms in today’s engineering and construction projects is a tedious, unsecure, and inefficient process. This involves multiple touch points that often produce incomplete and error-ridden data. Even monthly statements take weeks to close. Despite proper processes that enable frequent reconciling, closing the books remain a painful and time-consuming process.
The numbers speak for themselves
- 28% of UK construction firms say that lacking the data they need on-site is the single biggest factor impacting productivity.
- 60% of general contractors see problems with coordination and communication between project team members, and issues with the quality of contract documents as key contributors to decreased labor productivity.
- 35% of construction professionals’ time is spent (over 14 hours per week) on non-productive activities including looking for project information, conflict resolution, fixing mistakes, and rework.
- Reduce project costs
- Decrease lag time
- Increase efficiency and productivity
- Improve client and contractor engagement
- Speed up of closing the books
- Free up CFOs and finance teams to focus more on strategy
- Hiccup-free and free flow of data from field to office
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