Sage Advice US

Is your company’s IT just a collection of nuts and bolts?

Last week I had the pleasure to speak at a webcast hosted by Building Design + Construction on “How to turn IT investments into real business results.” This is a timely topic. With many construction firms seeing healthy revenue growth, investing in more technology is one of the top three actions contractors plan to take in 2015.* Still IT spending by the construction industry as a whole is the lowest (1% or less of revenue) across 19 major industries, according to Gartner’s 2014 “IT key metrics data.”

What is your IT investment? Are your systems a collection of nuts and bolts? Or do you have an IT strategy? Lack of an IT strategy can lead to impulse buying and disjointed systems that don’t work well together. On the other hand, a solid IT plan will help drive your business forward. Here are few things to consider:

As construction companies compete with other industries or other contractors for the next generation of workers, your IT capabilities become even more important. Many construction leaders realize that recruiting the next generation of workers is critical to sustaining growth in the industry. College graduates expect to work with more sophisticated collaboration tools. It will be hard for you to compete in the future if you don’t take this into consideration.

*2015 Sage construction technology survey