The top construction trends – and how to benefit from them

THE ARTICLES ON THESE PAGES ARE PRODUCED BY BUSINESS REPORTER, WHICH TAKES SOLE RESPONSIBILITY FOR THE CONTENTS

(Courtesy of HCSS)

HCSS is a Business Reporter client

The most competitive construction companies know which trends will change the industry and which ones will be a passing fad. We’ve analysed the five construction trends currently shaping the industry’s future and how you can use technology to future-proof your business.

1. Automated equipment

Automated equipment such as self-driving vehicles will transform the industry by executing repetitive tasks and allowing employees to focus on more skilled, specialised work. Relying on autonomous equipment to make calculated, optimised movements can improve efficiency, productivity and safety, which in turn can decrease overhead costs without displacing jobs.

(Courtesy of HCSS)

The key to seeing an ROI in automated equipment is good data – so now is the time to prepare if you want to jump ahead of your competition on this trend. Before implementing automation, generate solid baseline data so you know how to most effectively deploy equipment and prepare your operators. Utilise telematics data to know where your equipment is in real-time, track meter readings and set up low inventory alerts. This allows you to spot issues before they arise, identify trends and ultimately determine which equipment is currently making or losing you money and where you can automate your fleet.

Read more about automated equipment and an HCSS customer’s response here

2. Automated payments

Transitioning to automated payments such as smart contracts, blockchain and cloud-based technology can save time, improve communication, reduce risk and simplify the payment process.

(Courtesy of HCSS)

Prepare your company for automated payments by fully understanding your job site costs in your current systems. When your software can account for every detail of the job, you can analyse costs comprehensively to gain visibility into cash flow, make more informed on-the-go financial decisions and analyse how job site conditions affect your margin. Automated payments need to be part of a larger process analysis to ensure your payments are accurate and on time.

Find out what else our HCSS customer had to say about automated payments here

Members of the HCSS team give their take on the future of construction

3. Supply chain

Recent supply chain issues have tested every industry and their digital ordering process. Being nimble in the field can put you one step ahead.

(Courtesy of HCSS)

Protect precious time and materials by having software that integrates your bidding and project management processes so you know exactly what to expect and when. Knowing that everything your job needs will be harder to find, slower to arrive and more expensive than it’s been in years past, a digital planning tool that integrates with your project management is also key so you know exactly what’s been performed and can plan ahead.

Learn how to stay ahead of the supply chain with advice from an HCSS customer here

4. Sustainability

Building sustainably while implementing reliable, safe and cost-efficient processes that comply with government regulations is one of the biggest challenges for the industry – and it’s only going to become more and more prevalent.

(Courtesy of HCSS)

Lean into the sustainable solutions that are also beneficial to your business. Swapping paper timecards, plans, payments, bidding documents and notes for their digital equivalent not only reduces waste but also increases efficiency, improves collaboration and provides transparency on the job. Digitally tracking fuelling helps companies find places to reduce their fuel consumption – a win for sustainability and the bottom line. As more and more partners look for environmentally friendly firms to work with, companies that embrace sustainable practices will pull ahead of their competition.

Hear our client’s take on how you can build greener (without sacrificing practicality) here

5. Trust

Introducing new technology into your business is a risk that requires time, money, resources, and training, but the biggest hurdle construction leaders face is actually feeling they can trust their own people with the tools. Companies that are able to entrust field employees with software, with greater transparency into the business, and with profit-impacting decisions find they have more reliable data, better efficiency, stronger employee retention, and ultimately a more profitable business–but getting to a place where you can invest that trust in your people is no easy task.

(Courtesy of HCSS)

If you’re just dipping your toe into empowering the field crew with technology, lean on software that provides a very simple experience for users and allows you to build in automated checkpoints for the data that comes in. Expand into providing more feedback to the field about how they’re performing against estimates and project plans. Eventually, building up the software toolbox that each employee has access to can help you better engage younger employees, get more efficiency from all your people, improve accountability throughout the company, and even identify rising stars who can innovate and propel your business forward.

Learn how one of HCSS’ customers is empowering its team here

Click here to read about four more trends and a deeper dive on these from HCSS, where we use our 35+ years of experience leading construction technology to analyze these top trends and how you can take advantage

Originally published on Business Reporter