Cloud-based technology: the foundation for collaboration
Ten years ago, Steve Jobs revolutionized how we communicate with each other by introducing the iPhone. Jobs also opened up an entirely new industry: apps. We can’t imagine our life today without these handy apps – whether you’re locating an Uber driver, buying something handy on Amazon, or just checking the weather — our lives have become infinitely easier thanks to apps.
It’s little surprise that, as the world becomes faster, it’s harder to keep track of things.
Constant email, tsunamis of regulatory information, and endless documents flood our inbox daily. Projects are becoming increasingly tricky to manage as deadlines tighten and regulations increase.
So how can you efficiently manage thousands of project processes and all of the data?
Theft has always lurked throughout the dark recesses of the construction industry.
Stolen machinery and building supplies amount to hundreds of millions of pounds in losses each year. In fact, a 2017 UK government survey revealed an insidious new type of theft; nearly seven out of ten large businesses have suffered a cyber breach or attack at some point, adding up to hundreds of billions in losses.
Some people might ask. “Why shouldn’t we just keep working as we always have?”
We may be able to answer that question very simply by looking at growth and opportunity.
PwC projects that by the year 2030 construction output will grow to $15.5 trillion worldwide. That means that just a 1% reduction in costs would provide savings of over $150 billion.
The reality is that the size, volume and complexity of today’s and tomorrow’s projects cannot be supported using yesterday’s methods.
As a construction technology veteran with over twenty years of experience, whenever I ask construction businesses how they manage cost, their typical response is: “We use spreadsheets.”
In fact, the KPMG 2015 Global Construction Project Owners survey states that “50% of construction companies have not yet introduced an integrated Project Management Information System (PMIS )”*. Old-school spreadsheets still prevail, and the construction industry still has a long way to go in adopting digital project management solutions.