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Contractor's Suite White Paper: Contractors Stepping Outside Tech Comfort Zone

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WWW.ONCENTER.COM CO N T R ACTO R'S SUIT E WHIT E PA PER 1 Page Step Outside Your Comfort Zone: Digital Tech Holds the Promise of Boosting Construction Productivity Perfect Storm Calls for a Perfect Solution T o put it mildly, the se a re inte re sting time s in the c onstr uc tion industr y. Constr uc tion spe nding in the Unite d State s is at re c ord levels, re aching $1.3 tr illion in May 2018. Me a nwhile, the re is a cr itic al labor shor tage a s 70% of f ir ms str uggle to f ind qualif ie d wor ke r s. Adding to this chaos is the fac t that c onstr uc tion ha s racke d up the "le a st imp rove d" awa rd globally for p roduc tivit y for 20 straight ye a r s. The se p re s sing is sue s all point to a c onstr uc tion industr y that is hungr y for spe e d, ac curacy, a nd ef f icie ncy. Today's owne r s, ge ne ral c ontrac tor s, a nd subc ontrac tor s a re tor n bet we e n the old way of doing things — ma nual take of f a nd e stimating — a nd e mb racing powe r ful new data- dr ive n tools with re al-time adjustme nt c apabilitie s. Eve n though c ontrac tor s routinely blow their sche dule by 20 pe rc e nt a nd their budget by 8 0 pe rc e nt, the industr y is t ypic ally only inve sting 1.5% of value -adde d te chnology c ompa re d to 3.3% in ma nufac tur ing, ac c ording to the 2017 McK insey G lobal Institute (MGI) study. A lthough c ontrac tor s unde r spe nd on te chnology by 70 pe rc e nt, new digital te ch holds the p romise of boosting produc tivit y by a s much a s 6 0 pe rc e nt.

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