According to a McKinsey Global Institute report, the worldwide construction industry and related spending account for 13% of the world’s GDP — but the sector’s annual productivity growth has increased by only 1% over the past 20 years. The reality is striking: the construction industry is behind the times when it comes to utilizing modern technology to help improve operations and boost productivity. 

The McKinsey report recommends seven critical factors that, taken together, could increase construction productivity by 50% to 60%. Two of those seven factors are infusing digital technology and advanced automation. For construction companies who are not taking advantage of the solutions offered by modern construction operations platforms they could be leaving potentially hundreds of thousands of dollars of value on the table. 

That lost value can be difficult to spot, but without a modern construction operations platform its almost inevitable. Companies will miss out on the boosts to productivity, efficiency, and safety performance in their day-to-day operations. Some of the other less obvious effects include the reduction of lost or stolen equipment, and the automation of time-consuming administrative tasks whose accuracy and speed can be improved with automation.  For a further explanation of why any modern construction needs a modern construction operations solutions read our white paper below. 

Companies will miss out on the boosts to productivity, efficiency, and safety performance in their day-to-day operations. Some of the other less obvious effects include the reduction of lost or stolen equipment, and the automation of time-consuming administrative tasks whose accuracy and speed can be improved with automation. 

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