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New Study Reports on Construction Industry’s Biggest Concerns

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You might be wondering if the challenges you face every day in your construction business are similar to the problems others encounter. Maybe you’d like to understand the forces behind the industry troubles that seem impossible to solve. Well, prepare to be surprised. 

This year, Procore sponsored a groundbreaking FMI industry study. More than 700 construction professionals from across the globe took part in the survey. 

You’ll learn about their biggest concerns for future success. Your peers are keenly focused on improving project performance to help them overcome potential future barriers standing in their way. While finding and getting new business remains very important, it ranks behind five other challenges directly related to turning projects on time and on budget. 

Construction pros also named the aspects of their businesses with the greatest potential for improvement. While factors related to financial and project outcomes made the top three list, they also mentioned a less obvious one—reputation.  

How Does Your Business Compare?

You’ll get robust insight from this survey if you want a benchmark to compare how well you’re doing in tackling challenges. Respondents rated how well their companies address the top concerns. Most said they’re doing well with safety and communication; they admitted they’re falling short when it comes to labor and field productivity.  

Survey respondents also revealed they’re not entirely happy with their technology journeys.

Indeed, construction’s slow uptake of tech is at the epicenter of industry productivity woes. Weaknesses in adopting technology is mostly noticeable with workers and equipment in the field.

Adoption of new tech and fitting tech to their organizations are the biggest hurdles respondents face. They said their behaviors when buying and testing new technology keeps them from getting the best returns on their investments. They also admitted they have had issues with selecting the right tech for their particular businesses. They’re even further off the mark in getting insights from the data they own because they often lack the right organizational processes in place, they said.

Do You Face the Same Tech Woes?

A larger area covered in this report is just how these construction companies are adopting tech and specifically how they’re using it. You’ll see what others consider priorities when investing in technology, what they’re dissatisfied with, and the top challenges technology poses to them.

Other topics include:

  • The Commoditization of Tech Is Suppressing ROI
  • The Value of Tech Partners vs. Tech Vendors
  • Characteristics of a Technology Partner
  • Satisfaction with Tech Partners vs. Tech Vendors
  • The Tangible Impact of Technology Partners

This report is punched up with easy to understand graphics and charts so that the numbers are easy to grasp. And, it’s not available anywhere else. Get your copy here.  

If you liked this article, here are a few eBookswebinars, and case studies you may enjoy:

How Construction Technology is Saving Time, Money, and Jobs

Bringing Tech to the Field

BBE Study

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