Digital Transformation

Digital transformation will transform pieces of the business, either by launching a service app or automating a few processes.

Many organizations may hesitate to use digital tools because of the nature of the construction industry. With each project following a bespoke model, it is difficult to establish universal standards and processes.

Several leading E&C companies have begun to digitize, but their efforts are often limited to pilots or become bogged down in complexity.

For incumbents in the E&C industry, rapid transformation is critical to stay ahead. These firms are facing increased competition from technology companies, both established ones and start-ups, that have recently expressed interest in infrastructure projects, viewing them as ripe for disruption and a logical extension of their existing portfolios.

Although incumbents have the advantages of market share and brand recognition, they could lose ground to digital natives unless they move now.

Companies may experience delays and cost overruns because stakeholders look at different data sources when monitoring performance, resulting in conflicting progress reports.

A cloud control tower helps eliminate these issues by providing real-time information about critical activities in a central database that all employees can access.

Just as Amazon changed retail, Netflix changed entertainment, and Tesla is changing the auto sector.

The digital leaders in construction could put the industry on a new path and set the standards to which others aspire.

The real question is not if this will occur, but when.