Digital transformation key to business growth

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Digital transformation will generate more opportunities for growth than economic growth and recovery, according to a survey of contractors and project owners carried out by construction software business InEight.

In Europe, more than two-thirds of respondents (69%) said digital transformation will provide the greatest opportunity for their business’s growth in the coming year. More than half (52%) highlighted data collection, analytics and insight, ahead of the large minority (44%) that identified economic growth and recovery as a growth opportunity.

Sustainable practices and people/skills were both highlighted by about a third of respondents.

Lagging behind on digital transformation was cited as a risk to growth in the coming year by more than a third (37%), but economic stagnation/recession was more of a concern (48% of respondents). Poor data collection analytics and insights was cited as a risk by 29%.

Rob Bryant, executive vice president for Asia-Pacific at InEight, said: “Digital transformation may divide the industry into the ‘haves’ and ‘have-nots’ in the next few years. Those who have invested will attract the best talent – which is important in the context of labour shortages. Tech-led contractors will put together more compelling bids, owners will be more attractive collaboration partners – and others will fall behind.”

Read the survey: https://ineight.com/wp-content/uploads/2021/07/2107-Global-Capital-Projects-Outlook.pdf

Image: 152672807 © Daniil Peshkov | Dreamstime.com

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