Metrolink has hit another milestone with the UK’s largest light-rail network enjoying its busiest month ever in its 32-year history. Millions of people got on board in May which proved to be a bumper month for events including the Great Manchester Run, Manchester City’s Premier League title-winning parade and high-profile
The UK construction industry is set to experience a shift in thinking with the September launch of Offsite Construction Week (OCW) – an unprecedented collaboration amongst leading industry pioneers and associations. Organisers of the influential Offsite Expo and Offsite Awards have partnered with industry leaders with the specific goal of
NAVTOR has taken another step forward on its ambitious growth path with the acquisition of specialist software development company Masterloop. With a proven track record within IoT (Internet of Things), AI and web solutions, Masterloop’s arrival boosts NAVTOR’s innovation and development team, already strengthened by the acquisition of Voyager Worldwide
Roughly $10 trillion is invested in construction projects each year, and with so much money involved in the industry, getting a firm grip on finances is something every business must do. To that end, here’s a blow-by-blow account of what it takes to get your accounts in order, including the
BDC 318 : Jul 2024
Metrolink has hit another milestone with the UK’s largest light-rail network enjoying its busiest month ever in its 32-year history. Millions of people got on board in May which proved to be a bumper month for events including the Great Manchester Run, Manchester City’s Premier League title-winning parade and high-profile concerts at the Co-Op Live. During the month 4.1 million people travelled on Metrolink across Greater Manchester, setting a new record for monthly patronage since the network opened in 1992. The previous record of 4 million was set in November 2019. Danny Vaughan, TfGM’s Chief Network Officer, said: “This is a historic achievement for Metrolink and is the result of a huge team effort between TfGM and the operator KeolisAmey Metrolink over the last few years. “It shows just how important Metrolink is for Greater Manchester, as well as demonstrating Metrolink’s integral role as part of the Bee Network. It is also a testament to the staff on the frontlines and behind the scenes who keep the network running reliably. “This growth in passenger numbers, together with our renewed focus on tackling fare evasion is helping to get Metrolink back on track following the decline in passengers during the pandemic. “This is just one of many milestones that Metrolink has hit since 6th April 1992, and with work under way to improve the network and make it quicker, smoother and more reliable for passengers, I am confident that Metrolink will continue to go from strength to strength.” Damien Chabas, Managing Director of KeolisAmey Metrolink, said: “Metrolink plays a vital role in delivering a safe, reliable, and accessible public transport services for the around 900,000 people who choose to travel with us every week. “We are delighted with the record-breaking patronage in May, with the continued dedication and pride of our brilliant employees, KeolisAmey Metrolink will continue to build on our commitment to providing a highly-performing network in partnership with TfGM that adds value to the communities of Greater Manchester.” Building, Design & Construction Magazine | The Choice of Industry Professionals
The UK construction industry is set to experience a shift in thinking with the September launch of Offsite Construction Week (OCW) – an unprecedented collaboration amongst leading industry pioneers and associations. Organisers of the influential Offsite Expo and Offsite Awards have partnered with industry leaders with the specific goal of inspiring strategic collaboration across the offsite construction sector. A UK first, Offsite Construction Week will bring together clients, manufacturers, developers, architects, specifiers, project managers, legislative and accrediting bodies for a week-long series of events, debates, and discussions on how to accelerate sector growth by removing current barriers to MMC implementation. Uniting industry leaders from different construction and material sectors, the newly-formed Advisory Group will create a set of objectives for successfully expanding the application of offsite construction methods and technologies, ensuring that every stakeholder’s perspective is reflected in the resulting strategy. The Advisory Group comprises 20 of the most well-informed and respected industry figures at the forefront of offsite innovation from pioneering companies and industry bodies. For full details of the Advisory Group, go to: www.offsiteconstructionweek.co.uk/advisory-group Together, these industry leaders will curate the Offsite Expo Masterclasses, roundtable debates and events that take place throughout the five days of Offsite Construction Week. Through a series of practical seminars that share insider knowledge of projects success factors and learnings – speakers will offer solutions to legislative, procurement, procedural, and financial roadblocks to accelerating the pace of implementing offsite methods and products in construction. Key topics to be addressed will include but are not limited to, creating industrialised construction ecosystems, enhancing building safety, increasing productivity, closing the performance gap, driving innovation, digital delivery for tomorrow, creating a zero-snag culture and delivering against net zero carbon targets. On behalf of the Advisory Group, spokesperson Tudi Sully said, “We will act as industry ambassadors for delivering a better built environment, chairing roundtable debates and connecting decision makers from various client organisations, industry bodies, government stakeholders and the supply chain. “By engaging in an open, unbiased and critical debate of current roadblocks to the implementation of approaches such as DfMA, offsite, MMC and industrialisation; showcasing past project challenges and successes; and offering insights from different vertical sectors, the Advisory Group will demonstrate a roadmap for the wider adoption of these innovative solutions. “With the ambitious goal to help accelerate the UK government’s agenda for a safer, more sustainable and faster-growing built environment, the Advisory Group will not only connect top decision makers but will also oversee an educational outreach to young professionals, apprentices and students in construction programmes – all of which will start at Offsite Construction Week.” The Advisory Group’s involvement during Offsite Construction Week will include curating the programme and leading the Masterclass seminars, sharing insights from the organisations they represent and presenting a highly focused, factual overview of the sector and the challenges it faces. Whilst the discussions in the Masterclass Theatre will equip attendees with a well-balanced view of the industry’s roadmap for the future, the Advisory Group will set the tone for a series of live webinars on some of the most pressing issues in the industry. About Offsite Construction Week Taking place from 16-20 September 2024, Offsite Construction Week will showcase the most comprehensive series of offsite technology events ever seen in the UK. The aim of the curated selection of seminars, industry awards ceremony, site tours and features exhibition, is to highlight the benefits and advancements in offsite construction, driving innovation and collaboration across the sector. Unilateral Support Offsite Construction Week is supported by a robust lineup of industry associations, including BUILDOFFSITE (BOS), Building Engineering Services Association (BESA), Chartered Institute of Architectural Technologists (CIAT,) Light Steel Frame Association (LSFA), MMC Ireland, Modular and Portable Building Association (MPBA), Offsite Alliance, Steel Construction Institute (SCI), Structural Timber Association (STA) and others have come together to support the most comprehensive series of offsite events the country has ever seen. To keep informed go to: www.offsiteconstructionweek.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
NAVTOR has taken another step forward on its ambitious growth path with the acquisition of specialist software development company Masterloop. With a proven track record within IoT (Internet of Things), AI and web solutions, Masterloop’s arrival boosts NAVTOR’s innovation and development team, already strengthened by the acquisition of Voyager Worldwide in December. The Norwegian-headquartered business will now focus resources on the continued push for data-driven efficiency, performance and decarbonisation for customers, integrating further solutions into its connected digital ecosystem. Fresh perspectives “Masterloop provides another piece of the digital puzzle as we continue our mission to make life easier, safer and more profitable for shipping companies worldwide,” comments Tor Svanes, NAVTOR Founder and CEO. “The team’s industrial IoT strength and maritime understanding, highlighted by their Bluekey vessel efficiency application, will feed into our drive to enhance our portfolio with intelligent, data-based, AI solutions that simplify the increasingly complex operational reality faced by today’s maritime businesses. “Masterloop brings something new to the table, with fresh perspectives and broad experience gained from outside of shipping too. We believe they can help accelerate our innovation, as we push to deliver transformational technology for an evolving industry. It’s great to have them on board.” Shared visions NAVTOR is the world leader in e-Navigation and performance solutions, with products and services aboard over 18,000 vessels in the world fleet. Masterloop, meanwhile, has made a name for itself with a proprietary IoT platform, Bluekey and a smart bike-sharing application CityBike Cloud. Its client history includes names such as Easee, Zaptec, Kolumbus and Kverneland Group. Jan Helge Skailand, Masterloop’s Founder and CEO, has a long history of collaboration with NAVTOR. He was originally one of the founding team in 2011, taking the role of CTO, before leaving to form Masterloop in 2013. The two companies have collaborated on numerous projects since that point. Deep-dive expertise “In many ways this feels like ‘coming home’,” says Skailand. “I know NAVTOR very well and the two companies share the same values, innovation culture, and commitment to developing new solutions that unlock powerful benefits for users. However, we also have a deep-dive domain specialization within IoT and have gained experience from working alongside a unique mix of customers. So, I think we have something to offer a team that is already at the vanguard of maritime technology. I can’t wait to see what comes of this.” Masterloop’s team of ten, based in Norway and Sri Lanka, will now join NAVTOR’s global network of approximately 400 specialists. A key task will see them feeding competence into the Green AI for Sustainable Shipping (GASS) project, which is now tailoring digital twin and AI-based tech to introduce ‘dynamic voyage optimisation’ for vessels, aiming to cut emissions by up to 20%. Purpose driven development “We want to lead from the front and help change the industry with smart technology,” comments NAVTOR CTO Anders Holme. “Optimising performance and energy efficiency is one of our main focuses, helping our customers comply with stricter regulations, dramatically reduce fuel costs, and, of course, work towards ambitious decarbonisation goals. “We have a strong sense of purpose and an important role to play. It’s great to see a talented team like Masterloop buying into that, enhancing our capacity as we seek to ‘make a real difference’ for the industry we serve.” NAVTOR offers a comprehensive range of integrated smart shipping solutions, including advanced planning platform NavStation, fleet performance software NavFleet, and unique digital logbooks, amongst other products and services. To discover more please see www.navtor.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Roughly $10 trillion is invested in construction projects each year, and with so much money involved in the industry, getting a firm grip on finances is something every business must do. To that end, here’s a blow-by-blow account of what it takes to get your accounts in order, including the tools and techniques that are most useful to construction pros. Implementing Invoice Automation Tools Handling invoices manually can feel like trying to juggle with one hand tied behind your back, particularly when you’ve got a multifaceted construction project to oversee. The chief problems are that it’s time-consuming and prone to errors, which can increase project costs by as much as 25%. That’s where invoice automation tools are immensely helpful, as they can streamline the entire process, saving time and reducing mistakes. This in turn earns customer trust – which is something that one PwC survey found only 51% of business owners feel they have at the moment. Why Use Invoice Automation? Think about it: Manually processing invoices often leads to: Invoice automation tools eliminate these issues by digitizing the entire process. They capture data from incoming invoices, validate it against purchase orders or contracts, and then push this information directly into your accounting system. Key Features of Top Invoice Automation Tools When choosing an invoice automation tool for your construction firm, look for these critical features: Popular Invoice Automation Tools in Construction Some well-regarded tools in the industry include: Best Budget Tracking Apps for Construction Projects Managing budgets in construction is a perilous process, as every small oversight can lead to significant financial overruns – which impact 91.5% of projects in this sector. But modern budget tracking apps can plug those leaks, giving you the control and clarity needed to stay on course. Why Use Budget Tracking Apps? Without real-time budget tracking: Budget tracking apps provide a clear snapshot of where your money goes at any moment, enabling better decision-making and tighter financial controls. Essential Features in Budget Tracking Apps When selecting an app, ensure it includes these functionalities: Leading Budget Tracking Apps in Construction Here are some standout choices for keeping your finances tight and organized: Key Financial Data Handling Techniques Efficient financial data handling in construction is another fundamental thing you need to get right. It’s like maintaining a piece of machinery—every part must be well oiled and function seamlessly to keep operations running smoothly. And since a Buildertrend study from 2022 found that the average delay in a project was over 46 days, with this rising from just 12 days in 2018, a lot of organizations could stand to improve in this regard. The Importance of Proper Financial Data Handling Improper handling can lead to: Adopting precise data-handling techniques lets you enhance transparency, accuracy, and efficiency across your projects. The same attention to detail must be applied to all of the information that flows into your organization, as real-time data is very valuable and yet tricky to wrangle. Best Practices for Accurate Data Management Here are some top-tier strategies for managing your financial data effectively: Recommended Tools for Financial Data Management Consider integrating these tools into your workflow: The Bottom Line While we’ve talked over quite a few tools and techniques that will contribute towards a more streamlined, less baggy approach to construction finance, your needs may differ, and so it’s wise to adopt a bespoke approach to get the best end results. That said, if you’re on top of invoicing automation, budget tracking and data handling, you will already have a head start over the majority of your competitors. The real challenge is sticking to your guns and keeping a level of consistency that is sustainable in the long term. There are more variables and unforeseen issues in construction than many other sectors, but with firm financial plans, processes and tools on your side, risks will shrink and profitability from projects will rise.
