More than 70% of Contractors Do Not Have a Technology Plan in Place and Other Surprising Facts
Posted on November 5, 2019
A recent study from FMI Corp. has resulted in some surprising and disappointing facts. According to the study, which looked at surveys from more than 665 contractors, the biggest concern was jobsite safety, yet only 54% said they had looked at technology as a way to help increase it. 57% of contractors named hiring and retaining employees as a critical issue, yet just over one-in-four said they use technology to help solve the problems.
52% said that maximizing productivity is essential but only 40% said they were using productivity software. The survey revealed one important fact: Contractors know that accurate data is critical and they know that safety is essential but they do not think that technological data solutions are the answer.
Four Factors Have Led to an Increase in Technology Adoption in the Last Five Years
The study also found something that does not seem to jive with the above: In the last five years, there have been four essential factors that have resulted in some contractors to adopt various technology options. These four factors include:
- Access to more software options.
- Software is developed for a variety of devices – not just desktops and laptops.
- The connectivity at jobsites has improved, which makes it easier for these software options to be utilized in the field.
- As more and more millennial workers are coming to the site, they expect that technology will be part of their workday. If it is not, they are likely to go elsewhere, and contractors will not benefit if they do.
These are the four main factors that have led to the increases we’ve seen.
Why Aren’t More Companies Implementing Better Technology? There Are Many Answers to This Question
The survey discovered that there are many reasons companies have decided not to implement past technological answers. First, some tech companies preparing these software solutions focus only on the solution for the data – not the best experience for the end user. We know this can be an issue, which is why at Fund Control, we always keep the end user in mind when creating solutions.
The survey also showed that many companies have created solutions to individual problems instead of one solution for all the issues. At Fund Control, we have created a product that can support projects from start to finish. We know that no one has time to enter the same data into a dozen different software programs, and every time this is done, the chance of error increases. Contact us at 800-625-5972 today if you would like to request a free demo and learn how you can move forward.