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Digital adoption – How the construction industry is being left behind.

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Digital adoption – How the construction industry is being left behind.

We’re living in an exciting time where the advances in technology are having a significant impact on the way we do business. 

Project delivery strategies, safety controls, risk and financial management all have a technological solution to increase productivity and reduce costs. 

Despite the innovation and potential to enhance processes, most construction businesses are yet to embrace the technology movement. 

Companies are at a loss as to how to navigate the volumes of data available, utilise real-time project reporting and actualise project management basics. 

With all the opportunities accessible for everyday businesses, this article reviews the critical reasons why the industry remains behind in tech adoption. 

Cultural Norms and Worker Adoption

The age demographics and cultural norms within the construction industry are holding back tech adoption. Traditionally, field workers with craftsmanship expertise have enjoyed the process of working with their hands and being outdoors. 

Traditionally, the nostalgia of being physically active and applying traditional building practices has attracted a specific type of individual.

Applying a myriad of new technology can be perceived as detracting from how construction has always been performed. 

The introduction of cloud applications, portable devices, wearable technology and virtual reality can feel overwhelming for traditional field workers. Additionally, the skill shortage and low apprenticeship commencement rates have impacted the younger demographic within the industry. 

With the skill replacement gap increasing, the difference between the adoption of technology in the construction industry and other industries has become more prominent. 

As the gap increases, construction companies can use digital innovation and the uptake of new systems to work to their advantage. Showcasing your businesses adoption of technology can be leveraged to appeal to new recruits and younger workers. 

You are putting your business one step ahead of the competition and making your business the first choice of employment amongst the talent pool. 

Heightened Costs and Disorderly Implementation 

Businesses operating in construction frequently experience the pain of high material costs, budget blowouts and the pressure to meet wages. 

The added weight of trying to make ends meet and the additional layer of costly technology is enough to push business owners to put tech adoption on the backburner. Once owners assess the research required for the acquisition, the cost of the technology itself and the time allocated to training the process can feel unachievable. 

Likewise, owners often express that the adoption process can feel disruptive to daily business practices, and the risk of failure is too high.

If the status quo is working, why change?

Intrusion mindset prohibits companies from establishing a positive culture towards technology. It also acts as a barrier to fully realising your businesses potential. 

Digital innovation can streamline operations, enable real-time updates, which improves project execution and management. Timely information shared can prevent costly errors and duplication of activities. 

With all the potential benefits available, it’s essential to ensure any technology implementation is fully adopted. 

A technology provider has the expertise and experience to minimise the risks associated with change, the owners own time investment and provide the necessary training. 

Technology is an investment into your company’s longevity and positions your business for success. 

Increased Cybersecurity Risks

Intellectual property (IP) is the accumulation of your businesses designs, finance records, employee know-how and trade secrets. It’s your business’s tried-and-tested way of doing things and to share this information reduces your competitive advantage. 

Cyber security in the construction industry is one of the areas particularly behind the curve of other industries. 

We find many companies are at risk of ransomware attacks and data breaches due to insufficient security plans. 

Safeguarding your business needs to factor in more than just email accounts. 

Portable devices, multiple logins through cloud platforms, online collaboration tools, and finance applications increase vulnerability to attacks. Knowing your exposure and specific risks can mitigate falling victim to a crippling attack. 

Using a technology expert is a critical step to navigating the cyber risk landscape. A half adopted security plan is a sure way to increase the likelihood of an attack. Most security attacks result in devastating impacts to your company reputation, loss of bids and financial losses. 

Lagging behind security protocols and education means that your team can be left in the dark in the event of a data breach. 

Education on how to spot scams, strict password policies, firewalls, software and firmware will prepare your business for cybersecurity threats and ensure best practices.

Being surrounded by the right people ensures your businesses longevity. 

Although construction may not be at the forefront of technology adoption, embracing innovation will prevent your business from falling behind. Strategies and actionable plans will enable your business to get ahead of the competition. 

Not sure where your business stacks up in the world of technology? Our specialists at Thrive can provide a tech health check-up and put your business at the forefront of innovation – give us a call today on 1300 868 474.

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