Digitalisation to reduce costs by 3.4% – New tech offers solutions for the construction industry

The global digital revolution is here. A swathe of reports from the big consultancy firms, including PwC and McKinsey, mark out the business winners as those implementing a digital strategy. Now these management consultants are turning the digital spotlight onto the construction industry. They make it clear that new tech is a powerful tool that can turn around the current picture of low margins and poor productivity.

“Digitalisation will profoundly change the entire business world – and that includes the construction industry. Our goal at myConsole is to help the pre-construction sector develop their process and improve win rates by harnessing the power of tech,” says Philp Collard, CEO of myConsole.

As the procurement partner for Digital Construction Week, myConsole are holding a series of webinars to help organisations understand what digitalisation means for construction. The July webinar will be hosted by Eric Sandor, Chairman of myConsole and former Global Managing Partner at Accenture.

“Our next webinar will analyse the top management consultants’ reports, from a construction perspective. We will explain why they are now focusing on the construction industry and how digitalisation will affect your business,” explains Eric Sandor.

A recent PwC survey1 of over 2,000 businesses in 26 countries found construction and engineering businesses planned an investment of $195bn in digitalisation over the next three years (see appendix A). It also discovered construction businesses expect to gain 3.4% p.a in cost reductions (see appendix B).

All sectors expected ‘annual digital revenue increases of 2.9% on average,’ with a large proportion believing total increases will be over 50% in the next five year.

myConsole’s webinar, offers learnings in several key areas:

  • Using new tech to realise cost savings
  • Digitalisation and productivity
  • Building revenue
  • Change management

“The construction industry has woken up to the fact that digital changes need to be made. Action and investment are the next steps on this digital journey,” says Philp Collard, CEO of myConsole.

Tune it to our webinar to truly understand where digitalisation can take the construction industry.


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BDC 315 : Apr 2024