Business

Technology Trends Construction Company Leaders Should Keep an Eye on in 2023

With the construction industry subject to the tectonic shifts hitting the wider economy, the challenges plaguing the sector are only growing. It’s now fair to assume that not having the right tools and technologies in place can affect the ability of construction companies to process orders, provide services, send invoices, or track payments.

As the new year begins, construction company leaders are looking to invest in advanced technologies and equip their workforce with modern and intuitive project and payroll management software to eliminate manual errors. These solutions also feed clean information into systems, and capture every activity that happens on the job site, as it happens, to improve productivity and efficiency.

Let’s look at the top technology trends construction company leaders should watch out for in 2023:

  1. Automation: Labor shortages have become an industry-wide issue. While there are several steps companies can take to bridge the skills gap, automation will enable construction company leaders to eliminate human dependence on mundane and repetitive tasks, allowing the workforce to focus on tasks that matter. Automation will also help reduce error margins, allowing companies to make better decisions and establish stronger and better-quality structures. For instance, construction payroll software with automated capabilities can simplify union payroll and certified payroll reporting for federal and state jobs. From automated timecard reporting for the remote crew to skill-based recruitment of project resources, automation technology can help simplify recruiting and payroll processing tasks in many ways.
  2. Integrated digital solutions: Integrated digital solutions that streamline union timekeeping and logging and simplify finance/payroll management will be a big trend in the coming year. These solutions will help construction companies bring critical payroll-related information from across the business to accurately track payments, send invoices, and fulfil contractual obligations. They will also help companies efficiently maintain books and records while always having their hands on timely and reliable financial and operating results reports.
  3. Industry-specific business applications: The pressure on multifaceted Engineering, Procurement, and Construction companies to deliver quality projects on time is at an all-time high. In 2023, construction leaders will increasingly look to embrace industry-specific technology solutions that help them in integrating the back office with the field site. Construction ERP and CRM software that is built specifically for the construction sector will help streamline supply chain operations, allowing leaders to efficiently manage specialty contractors, handle risks, and get the visibility they need into every project. Advanced construction software that brings the most advanced technology can help unify data across fields, sites, and contractors, and optimize the efficiency and profitability of project-based civil engineering and construction projects.
  4. Advanced applicant tracking systems: In the coming year, construction company leaders will also seek advanced Applicant Tracking Systems (ATS) that allow them to professionally onboard and offboard labor and trades. As projects begin and end, these systems will make it simple and easy for construction companies to bring on new talent and manage them efficiently through the lifecycle. ATS, when integrated with performance management systems and HR software suites, will allow for 360-degree reviews and weighted ratings, paving the way for better management of unions and the construction workforce in general.
  5. Worker safety solutions: The coming year will also see construction leaders prioritize safety and look for new and improved ways to improve working conditions and mitigate risks. Investments in industrial management software will grow, allowing companies to detect potential faults and failures in equipment – before they happen. Many will also implement advanced tracking technologies on the job site, such as vests with tracking chips, to promote safe operations. These will help leaders get a better chance to track people and machinery and leverage real-time worksite heatmaps to closely monitor worker proximity, carry out contact tracing, and move from simply resolving current hazards to predicting future ones.

As the construction sector struggles to unify data across all fields, sites, and contractors and simplify project management, the coming year will see a significant rise in the adoption of modern technology solutions that enhance workforce efficiency, safety, and productivity.

Embracing the latest technology trends will allow construction company leads to get clarity and visibility of project performance and variance while mitigating project risk in time. From intelligent, construction-specific business applications to advanced automation platforms, integrated digital solutions to ATS and worker safety solutions – the adoption of new-age trends will streamline and simplify EPC reporting, progress monitoring, and planning and control, allowing leaders to efficiently forecast job costs, handle possible delays, and improve equipment performance.

If you want to improve the efficiency of your construction projects, we can help! At CEM, we have been helping construction and EPC companies optimize operations for 20+ years now. We offer a range of timekeeping, construction payroll, daily log and attendance, and HR software to help the sector manage, control, and deliver project-based work.

Contact us today to learn how you can unify your business, improve end-to-end processes, and enable success with innovative processes, solutions, and tools – specifically curated for the construction sector.