What is Construction Technology?

The Construction Industry Association defines construction technology as a collection of innovative equipment and software used during the construction phase of projects. This allows the advancement of field construction technologies and semi-automated and automated construction equipment. We might go further and add preconstruction technology such as a web-based bid management platform and an online bid management app. The building industry is rapidly undergoing development.

We understand that the construction industry faces unique challenges, such as project costing, financial management, cybersecurity and reliable Wi-Fi capabilities. Our cutting-edge technology solutions are specifically designed to address these challenges, helping you achieve your goals more efficiently and effectively than ever before. 

Construction companies today face numerous challenges. Evolving construction methods, like modular construction, managing complex workflows, maintaining efficient communication channels, and ensuring cybersecurity. Fortunately, technology solutions have emerged that can help overcome these obstacles and streamline operations. 

6 Types of Construction Technology Solutions That Will Be Used in the Future

The engineering sector is expected to grow from 69 percent to 80 percent by 2024, according to the report released by Deloitte. The latest in construction technology helps businesses to streamline digital transformation. Modernizing the way you operate is an important decision to make. When building a company, the best way to stay competitive will be to implement new approaches into its processes and plans.

Cybersecurity

With more construction companies relying on technology, cybersecurity is a growing concern. Companies need to implement robust security measures to protect sensitive information and prevent cyber-attacks. This includes firewalls, antivirus software, and regular security updates. 

Workflow and Project Management Solutions

Construction companies need software that can help them manage complex projects with multiple tasks and deadlines. Workflow and project management software allows for efficient collaboration, document sharing, and progress tracking, allowing project managers to stay on top of their projects. 

Augmented & Virtual Reality

Training of operators is a major area where Virtual Reality (VR) has the possibility to affect the construction industry. VR allows employees to experience confined, safe and controlled environments and even work from the top in crowded areas.

VR simulators have been used to train soldiers, pilots, and surgeons for decades. They can now be used in similar ways to train construction workers. VR is also able to assist in all sorts of jobs – from working with a crane to excavating to welding. Augmented Reality (AR) is another technological innovation that can improve building safety.

Wi-Fi Capabilities and Work from Anywhere

Construction workers are increasingly relying on mobile devices and laptops to access project data and communicate with colleagues. A strong and reliable Wi-Fi network is crucial to ensure that workers can access data and communicate in real time. Construction companies can benefit from remote working capabilities, allowing team members to work from anywhere and stay connected. 

Artificial Intelligence & Machine Learning

Artificial Intelligence (AI) is the power of computer systems to learn from past experiences and data analysis. Both AI and machine learning are enormously relevant to building projects where intelligent decision-making can be highly productive and efficient. Machine Learning will impact every aspect of any building project from planning to completion.

Building Information Modeling (BIM) Software

BIM allows users to collaborate more effectively since each person and expertise can use a single piece within the same model. This means that a business model will evolve immediately with each participant, ensuring efficiency and simplifying processes. A BIM solution also provides trouble-solving in the design and planning stage. In recent years the global government introduced the BIM requirement in tens of thousands of facilities in India.

What are 5 construction technology trends? 

Finance: Construction companies require effective financial management to stay on top of their accounts payable and accounts receivable. Implementing finance software solutions can automate invoice processing and payment, reducing the risk of errors, and speeding up payment times. 

AP/AR Automation: Automating the accounts payable and accounts receivable processes streamlines billing and payment processes and ensures that invoices are processed and paid quickly and accurately. This type of automation software also allows for real-time monitoring of financial transactions, reducing the risk of fraud. 

Data Collection Apps: Apps are now more prevalent in building, and with good reason. Mobile technologies like phones and tablets offer greater mobility as well as better connectivity. Data Collection Apps provide a way for building businesses to collect accurate and faster data on their site. Integration of this technology into your existing process may be straightforward, with minimal initial costs but still provides substantial benefits.

Construction Wearables: Construction Wearables provide several advantages for increased productivity and can also be adopted quickly, particularly because they offer safety features. Construction is viewed as an industry with high accidents causing deaths and serious injuries every single year.

Wearables already offer the potential to increase workers’ safety and potentially reduce accidents in the manufacturing sector. Some construction wearables are available in the market today. Others, such as watches, monitors, or goggles, help increase workers’ protection and reduce fatigue.

Construction Robots: Construction Robots do not yet control the industry, though they’ve come up with numerous plans. As the industry looks to find a solution to deal with labor shortages and social distancing, robots may play a larger part. Drones are now widely available on construction projects and they are doing work that would otherwise be costly.

The construction industry is rapidly evolving, with new technologies emerging every day to help companies stay competitive and streamline their operations. One of the most important technologies for construction companies is ERP, or enterprise resource planning. ERP solutions allow companies to manage their entire business operations in one centralized platform, from project management and inventory control to financial management and human resources. By implementing an ERP solution, construction companies can improve their efficiency and productivity, reduce costs, and make more informed business decisions.  

Additionally, process automation can help construction companies eliminate manual, repetitive tasks and focus on more value-added activities. Managed IT services can also be beneficial for construction companies, providing 24/7 support, ensuring that their IT systems are secure and up-to-date, and allowing them to focus on their core business activities. 

Cloud computing and cloud backup are also essential technologies for the construction industry. By leveraging the power of the cloud, construction companies can access their data and applications from anywhere, at any time, on any device. Cloud backup can also help companies protect their critical data from loss due to natural disasters, cyber attacks, or other unexpected events.  

Business phone systems can also be an important technology for construction companies, allowing them to communicate more effectively with their clients, vendors, and team members. With features such as call routing, voicemail, and conferencing, business phone systems can help construction companies improve their customer service, collaboration, and productivity. Overall, by embracing the latest technologies, construction companies can stay ahead of the curve and achieve greater success in a rapidly changing industry. 

At LBMC, we’re dedicated to providing you with the technology solutions you need to succeed in the construction industry. Our expert team is committed to providing exceptional service and support, ensuring that you get the most out of our technology solutions. Contact us today to learn more about our technology solutions and how we can help your business thrive. 

Common construction & specialty contractor business challenges:

• Excel-based consolidations and reconciliations are prone to errors and eat up valuable time, a lack of usable construction technology solutions
• Incomplete, delayed, or inaccurate visibility into the financial health of each project as well as across the entire business
• Metrics, budgets, and forecasts are no longer relevant by the time you get them
• Handling project complexity while minimizing overhead costs

Manual processes take effort and eat up valuable time.  Working with a platform that doesn’t scale for your growth can be a hindrance, costing you overhead just to run in place. Take control of your construction sites and construction tech. With the right modern technology, successful construction companies can:

• Free up resources and improve productivity
• Be more agile and scale
• Make decisions with real-time visibility

Construction Technology Solutions

• Enterprise Resource Management (ERP) software
  • Cloud-based construction technology solutions with construction-focused accounting automated financial processes and real-time visibility and insights
  • Manage contracts (and subcontracts)
  • Artificial Intelligence (AI), and IoT-driven predictive automation
  • Accurate Project Cost Management of building materials & other project costs
  • Airo Mechanical Success Story with Sage Intacct for Construction
• Service Trade & Sage Intacct Integration
  • Helps commercial service contractors sync critical data between Sage Intacct and ServiceTrade for faster, more accurate accounting and better customer experiences
  • Easier and faster invoicing
  • Improve Cash flow
  • Gain better insights into your business
• ProFORM (AIA Billing for Sage Intacct) Software Solution
  • ProForm is a construction technology solution that is designed for commercial subcontractors, specialty trade contractors, and specialized service providers
  • Simplifies American Institute of Architects (AIA) Billing
  • Improve cash flow and operations
  • Track schedule of values
  • Automates retention
• IntegratorPlus (CRM & Sage Intacct Integration)
  • Streamline business processes
  • Eliminate manual re-entry of customer and order data
  • Improve operational efficiencies
  • Enhance sales and service effectiveness
• Customer Relationship Management (CRM) software
  • Identify, manage, and track prospect and client opportunities from source to close.
  • Manage sales relationships as well as customer service.
• AWS or Azure Cloud Platforms
  • Enable cloud-based services to quickly deliver innovative solutions, modernize systems, and back up valuable customer data.