{"id":6068,"date":"2016-02-16T07:00:23","date_gmt":"2016-02-16T15:00:23","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=6068"},"modified":"2016-01-11T09:18:55","modified_gmt":"2016-01-11T17:18:55","slug":"construction-it-industry-lags-all-others-in-technology-spend","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/construction-it-industry-lags-all-others-in-technology-spend\/","title":{"rendered":"Construction IT: Industry Lags All Others in Technology Spend"},"content":{"rendered":"

The construction industry has consistently ranked last among all industries<\/a> in terms of investment in technology. \u00a0More than one-third of companies spend less than 1 percent of their revenue on IT, and more than half spend less than 2 percent. \u00a0The 2015 Gartner IT\u00a0Key Metrics Data<\/a> shows spending in construction\u00a0averages just\u00a0\u00a01.2% of revenue.<\/p>\n

Despite the fact that IT spending is low, it is still surprising to see in a 2015 survey by\u00a0Software Advice<\/a>\u00a0that more than half of businesses in the construction management industry are\u00a0still using paper to create estimates and manage bids. \u00a0But\u00a0one-third of construction businesses say\u00a0that they are ready to use technology to help them cut costs and streamline workflows.<\/p>\n

James Benham<\/a>, CEO of JBKnowledge, said that<\/a> \u201cit\u2019s very concerning,.. \u00a0It means that technology is so unimportant to most contractors that they\u2019re not even assigning a single person to be responsible for it…\u00a0But we all know that if you take something seriously in your company,\u00a0at some point you have to have at least one or two people in the company dedicated to it.”<\/p>\n

The 2015 JBKnowledge survey<\/a> of technology in the construction industry said that “year after year, the integration section of this survey elicits the snarkiest comments from survey\u00a0participants. While entertaining to read, the comments reinforce the fact that technology providers are\u00a0neither meeting expectations nor promises in data integrations. For that reason, builders insist that\u00a0spreadsheets and manual processes serve as valid integration<\/em>\u00a0methods because they are the only\u00a0methods available.”<\/p>\n

 <\/p>\n

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The construction industry has consistently ranked last among all industries in terms of investment in technology. \u00a0More than one-third of companies spend less than 1 percent of their revenue on IT, and more than half spend less than 2 percent.…<\/span><\/p>\n

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