The construction industry continues to grow, both on the residential and commercial sides of the line. In recent years, a strong economic environment and business-friendly atmosphere have created opportunities for licensed contractors to take on more work. However, the continued growth in the industry has also meant disruption and increased competition, even for the most seasoned contractors. Technology is at the foundation of these shifts. Construction contractors who want to improve efficiencies while remaining competitive in the saturated marketplace must embrace certain digital trends to keep up. Here are a few areas where that can be accomplished.

Building Information Modeling

Building Information Modelling, or BIM, is one of the most notable trends in construction over the last several years. Thanks to advanced technology, construction managers and contractors can use 3D models to replace traditional blueprints for new projects. The interactive design of BIM and its highly detailed planning tools give construction industry professionals better, more accurate information about current or prospective projects. These advancements assist in creating more efficiency in the budgeting process as well as a competitive edge over construction contractors or general contractors who do not use BIM in project management.

Business Analytics

In conventional construction businesses, the majority of time and effort is put into managing projects to be completed on time and within budget. While not impossible without technology, advancements in the digital world have made this task far more streamlined and efficient. Part of the benefit in using technology tools in business is the analytics aspect of construction sites, giving contractors and project managers the ability to evaluate processes in real time.

If there are issues with a particular project, shifts can be made easily based on accurate, reliable data to help move the work down the right path. Business analytics in construction also give the upper hand to contractors because competitors may not be able to adjust as quickly or as appropriately without technology’s help.

Training and Education Advancements

Technology has made ongoing education and training requirements far easier for construction contractors, including those who are in the process of getting or renewing a license to do business in the industry. Several online courses that are self-directed are available at little to no cost. These help keep construction contractors aware of up to date rules and regulations regarding safety, best practices and business management tactics. With the right training and education, contractors have more opportunities to take on new work with confidence, and they are more likely to complete those projects per the terms of the agreement with the customer.

Innovations in Safety

The use of technology is construction also lends a hand in the safety department. Construction contractors can utilize new tools, including wearables, drones and virtual reality equipment training, to improve safety prowess on the job. Having more ways to evaluate jobsite risks before work begins or as projects progress is beneficial in keeping injuries and hazards at bay. Contractors who embrace technology for safety purposes can set themselves up for success, not only by having a lower-risk work environment but by avoiding costly claims on contractor bonds or insurance in the future.

Construction contractors have several options to include technology in their business processes, all which lay the groundwork for increased efficiencies over time. Digital trends in construction may also help contractors stay more competitive, particularly for those who can show prospective customers how their technology tools give them an upper hand on budget, delivery and safety requirements. Overall, adding technology solutions to the mix provides licensed contractors several strategies for growing and maintaining a successful business.