The Top Construction Trends—and How to Benefit From Them

HCSS is a Business Reporter client.

The most competitive construction companies know which trends will change the industry and which will be a passing fad. HCSS has analyzed five construction trends currently shaping the industry’s future, and details how you can use technology to future-proof your business. 

1. Automated equipment 

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

Good data is the key to achieving ROI in automated equipment—so now is the time to prepare if you want to jump ahead of your competition. Before implementing automation, generate solid baseline data so you know how to most effectively deploy equipment and prepare your operations. Utilize 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 operations. 

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

2. Automated payments

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

When your software can account for every detail of the job, you can analyze costs comprehensively to gain visibility into cash flow, make more informed on-the-go financial decisions and see how job site conditions affect your margin. Automated payments need to be part of a larger process analysis to ensure that 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 digital ordering process. Being nimble in the field can put you one step ahead.

Protect precious time and materials with 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 likely 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 work has 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 will continue to be one of the biggest challenges for the industry.

Lean into the sustainable solutions that are also beneficial to your business. Swapping paper timecards, plans, payments, bidding documents and notes for their digital equivalents not only reduces waste, but also increases efficiency, improves collaboration and provides transparency on the job. Digitally tracking fuel use helps companies identify opportunities to reduce fuel consumption—a win for both 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 perhaps the biggest hurdle construction leaders face is feeling that they can trust their own people with these tools. Companies that can entrust field employees with software, greater transparency into the business and the ability to make profit-impacting decisions find that they have more reliable data, better efficiency, stronger employee retention and, ultimately, a more profitable business—but getting to the place where you can place that trust in your people is no easy task.

If you’re just dipping your toe into empowering the field crew with technology, choose software that provides a very simple experience for users and allows you to build in automated checkpoints for incoming data. Expand into providing more feedback to the field about how they’re performing against estimates and project plans.

Building up the software toolbox and employee access can help you better engage younger employees, achieve 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 an HCSS customer is empowering its team here.

Click here to read HCSS’s deep-dive analysis of four more top trends, informed by our 35+ years of experience leading construction technology, and how your business can take advantage.

Images: Courtesy of HCSS