CINCINNATI, Feb. 24, 2021 /PRNewswire-PRWeb/ -- STACK Construction Technologies [STACK] announced today the release of its first annual preconstruction technology report. "We're excited to release the findings from this report to provide some insight on the state of preconstruction in the wake of a unique and challenging year," said Phil Ogilby, Founder and CEO of STACK.
Surveying nearly 1,000 preconstruction industry professionals – primarily subcontractors, general contractors, and material suppliers and manufacturers – on business trends, technology usage, and workflow processes, the report indicates that despite challenges, the industry as a whole, and construction technology adoption in particular, are moving in a positive direction.
The survey asked the status of revenue and project volume over the course of 2020. Nearly a quarter of respondents reported that their project volume had decreased, and many cited the COVID-19 pandemic and subsequent economic challenges as the reason behind stalled growth. However, the vast majority indicated steady volume or increased growth, and many of those respondents also mentioned the pandemic, but with a positive outlook for their businesses due to economic stimulus packages.
One fascinating result from the survey is that preconstruction professionals work in a wide variety of ways. For nearly every question in which multiple responses were permitted, respondents selected more than one option. Survey participants are using many methods and tools to get the job done, demonstrating that as the market changes, industry professionals adapt, but they do it in their own way, with the understanding that there is no one-size-fits-all solution. Instead, preconstruction success means recognizing that in order to support the workflow of unique businesses, the collection of tools that are the best of their kind and how they interact may be equally, if not more, important than seeking out a single solution that does everything, but sub-par.
Construction technology adoption varied among survey participants, but one clear finding shows that most use some form of technology in their role, with 85% indicating they use at least one software tool, and 29% reporting that their tech usage had increased in the past 12 months. More than 75% believe that software provides a strategic advantage for their business.
Another key insight from the report includes the importance of collaboration and relationships in the industry. "The survey data really drives home how essential it is that companies embrace channels and tools that will allow for seamless collaboration both within and outside the organization," said Ogilby. "As the industry continues to evolve, successful contractors will seek out those solutions that allow remote teams to connect with each other seamlessly, and we're proud to be at the forefront of that movement. Because STACK is web-based and runs entirely in the cloud (meaning access anytime, anywhere, from any device) and is built with an open API, it powers real-time connectivity, increased efficiency, and integrated workflows."
For more information, and to read the full report, visit: https://www.stackct.com/stacks-1st-annual-preconstruction-technology-report/.
ABOUT STACK CONSTRUCTION TECHNOLOGIES
STACK Construction Technologies is the industry's leading cloud-based software solution for preconstruction professionals. STACK provides a centralized hub where plans, specs, and other construction documents can be stored, evaluated, measured, and shared. STACK delivers easy-to-use takeoff, estimating, and proposal solutions for thousands of subcontractors, general contractors, suppliers, and manufacturers to ultimately improve project outcomes and profitability. Our solution powers seamless plan and document management, real-time collaboration, and a more efficient digital preconstruction workflow.
For more information on how STACK software is helping preconstruction teams gain visibility, insight, and alignment throughout the bid process, visit stackct.com.
Media Contact
Lindsay Powers, STACK Construction Technologies, 513.258.2817, [email protected]
SOURCE STACK Construction Technologies
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