Where Does Construction Technology Stand in Today’s Market?

According to the Wall Street Journal, investors are pumping money into construction technology (aka contech) to add automation to the industry.

“Venture capital investment in private contech firms increased from $352 million in 2016 to more than $6 billion in 2018. As of the end of June, investments totaled more than $4 billion, indicating that capital injections into contech in 2019 could surpass those made in 2018.”

Many of these construction technology firms are new start-ups focused on delivering technology to help tackle rising construction costs and skilled labor shortages. As many firms in the Heavy Jobsite industry are ripe for automation, they may have to wait a while before these start-ups have available and tested technology. Instead, companies like Command Alkon are ahead of the curve with proven solutions for the Heavy Building Materials market that automate business processes from quote to order processing, from front office to back office, and from raw materials suppliers to materials transport and final delivery.

The construction industry needs to have a digital transformation. By using a collaborative platform that connects all construction stakeholders (contractors, suppliers, procurement, project managers, engineers, etc.), everyone involved on a job can be on the same page with  visibility into what is going on across the entire supply chain.

A collaborative platform empowers stakeholders to reach outside of their four-walls and collaborate and share information. Everyone involved would know what is happening up and down the supply chain and could solve problems while making more informed decisions that could lead to more dollars in their pockets. 

With an open platform that offers many-to-many connections to enrich the value of the supply chain, all material flows run smoother and significant efficiencies are gained. Technology can provide visibility into where materials are or whether they’ve been delivered to the jobsite or where the truck is in the yard without sending people out to find out to find out where the materials have been placed.

The more you can automate daily operational tasks through a digital platform, the more productive your team will be. You may not even need to hire more personnel to get the job done because the current teams can be more productive.

Missed or delayed shipments of materials to jobsites can cause the project to be delayed with workers hanging around waiting. If project managers knew that the delivery would be late because of visibility into supply chain processes, they could reassign workers or divert another shipment of materials to the jobsite.

Technology is the key to solving many of the issues and challenges of the Heavy Jobsite industry. The time to automate your business processes is now.

 

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