Importance of tech in the real estate & construction industry
Technology plays a vital role in the optimization of workforce efficiency within the real estate and construction sectors. Teams often face critical challenges such as remote communication, unorganized work breakdown structures, site budget control, resource management, etc. Project deliverables also get delayed significantly, owing to these challenges faced by the construction workforce.
A systematic approach to workforce and project management is the key to ensuring streamlined execution and seamless communication. Site teams can regularly update managers, driving greater transparency into projects when companies adopt an advanced technology solution. Key construction management solutions, such as Zepth, introduce efficiencies from procurement to delivery, thereby lowering cost and improving workforce output.
Greater collaboration through technology
A key benefit of adopting an enterprise-wide technology solution for construction projects is the increased collaboration between stakeholders. Close to 70% of Indian construction firms are in the initial phase of their digitization journey, precisely because of the increased efficiency that collaboration drives.
Typically, larger capital projects also experience 20% time and 80% budgetary overruns throughout their lifespans, making it increasingly challenging to manage them at-scale. With the introduction of digitization, construction enterprises can become more agile to dynamic changes and trends without losing connectivity within teams.
Core technology features, including the Zepth common data environment, ensure consistency in data availability while providing a singular source of enterprise information. This improves collaboration and productivity, giving more stakeholders more accessibility to building designs, schematics, planning, and budgeting without experiencing multiple stages of data-finding.
Better planning stage efficiencies
One of the largest areas of impact for the construction industry is the focus on strategic planning through technology. Several technological features can be introduced into construction projects, such as BIM, 4D, ERP, CRMs, and 3D printing are helping workers gain greater insight into project realities at-scale. In fact, leveraging BIM into construction planning and strategy can save around 20% of the total costs by reducing construction time.
66% of construction enterprises are prioritizing key technologies such as BIM, virtual mapping, building visualization, compliance tools, etc., for an omnichannel transformation experience. They are building an ecosystem to enhance planning and strategy to save costs throughout the lifespan of the project. As a result, the construction workforce is emerging as increasingly productive, with greater access to quality project data during the crucial planning stages.
The role of automation in workforce efficiency
Automation plays a vital role in enhancing workforce efficiency, as it can seamlessly execute manually intensive tasks within a shorter time frame. This ensures that the construction workforce can allocate their effort into innovative and timely processes, driving greater output quality. Teams can focus on improving site execution when key areas such as indent management, multi-site material transfer, and scheduling are automated through a centralized system.
The increase in workforce efficiency directly translates into greater cost savings for projects that may already be experiencing some form of delays and overruns. Managers are also able to track employee activities through progress reports, updates, and mapping technologies. With processes automated at-scale, all team members can comply with outlined objectives seamlessly. This directly boosts transparency and employee output throughout the lifespan of the project.
Additionally, construction projects are leveraging robotics, drones, AI, and other advanced technologies to ensure the effective translation of designs to on-ground execution. They also assist in site quality inspection, safety reporting, visual reporting, etc. These technologies are giving workers more data points to ensure the seamless breakdown of fieldwork for all project sizes. They are also helping construction workers to scientifically derive novel insights for improving project outcomes.