When you think about it, the engineering and construction (E&C) industry lays the groundwork for the world’s economy, helping many other industries to thrive due to increased value creation through buildings and infrastructure.
Although the E&C industry pulls in annual revenues of nearly $10 trillion (about 6% of global GDP), out-of-date processes are just as much a part of the industry as boots and a hard hat.
Some estimate that within ten years, full-scale digitalization in Heavy Civil construction will lead to annual global cost savings of $0.7 trillion to $1.2 trillion (13% to 21%) in the engineering and construction phases and $0.3 trillion to $0.5 trillion (10% to 17%) in the operations phase. The industry is on the brink of a new age, and the transition to digitalization is changing the way construction companies plan and execute projects.
What you need in your toolbox is a solution that enables you to standardize and automate your processes and allow collaboration with suppliers to open lines of visibility across your supply chain.
How can this be achieved? Download our e-book, Transforming the Construction Supply Chain, to learn more!