The intersection of an aging workforce and market demands for new technology solutions necessitates the development of a new breed of construction executive-one who is able to manage multiple assets while increasing efficiency and minimizing mistakes and liabilities with a knowledge and familiarity of new and emerging technologies. According to the 2014 Construction Technology Report, the industry spends 1.5% of its revenues on IT as opposed to 3.3% in other industries-and those firms with fewer than 200 employees and $200 million in annual revenue often don't have an IT staff. Spreadsheets and email continue to be the preferred method of data transfer For the construction industry to move ahead at a more accelerated pace, the next-generation executive will have to be comfortable with new technologies, and be able to draw from personal experiences with related solutions. The next-generation construction executive will expect "one truth" from a project, because they will be held to even higher standards of efficiency with less tolerance for error. Cloud-accessible information means that errors are trackable and all parties are held more accountable. Cloud-based solutions will allow professionals real-time access to everything from costs, drawings, field personnel reporting, work order processing, inventory tracking and scheduling, among other workflows, thus driving efficiency, minimizing errors and increasing revenues.
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