Global Industry Council (GIC) Declares: “Now is the Time for Digital Transformation in Engineering and Construction"
13 February 2018
Aconex Limited (ASX: ACX), the #1
platform for digital project delivery, today announced the
Global
Industry Council (GIC) – unveiled in October – released their inaugural
report, “Five Keys to Unlocking Digital Transformation in Engineering &
Construction.” The report, authored by Aconex and
The Boston Consulting
Group, outlines the many challenges faced by the E&C industry to
adopting and implementing
digital technologies, and offers practical
solutions with real-world case studies. The GIC was created by Aconex
and is comprised of leaders from the world’s top engineering and
construction companies including
AECOM,
Bechtel,
Chiyoda,
Fluor,
Lendlease and
TAV Construction.
“Five Keys to Unlocking Digital Transformation in Engineering &
Construction is the first clear roadmap that provides actionable advice
for asset owners, EPCs, and contractors to transform the challenges they
face with digital transformation into opportunities for success,” said
Leigh Jasper, Co-Founder and CEO of Aconex. “Every organization is
different, and one of the report’s biggest values is giving them the
knowledge of how to prioritize areas for action that will have the
largest impact on their strategy and operations.”
Kate Nelson, GIC council member and Head of Business Technology &
Innovation at Lendlease Building, said the report sheds further light on
the importance of staying at the forefront of digital construction
technologies. “Interestingly, the report highlights a number of
cultural, as well as technical, barriers to digital adoption many
organizations are currently facing. Only by addressing both sides of
this equation will our industry be able to fully leverage the benefits
the next wave of digital technologies promises.”
The report outlines five key challenges, with in-depth proposed
solutions:
-
Integration Across the Ecosystem: Organizations are grappling with complex digital ecosystems that have multiple systems creating and duplicating data
-
Rationalization and Standardization: Complex and non-standard processes need to be rationalized across projects
-
Building Digital Talent: Organizations not only lack teams of IT experts but also a broader workforce that is digitally savvy
-
Securing Digital Adoption: Workforce apprehension arises from cultural and technical challenges
-
Establishing Value and Return on Investment (ROI): Organizations find it difficult to communicate the benefits gained from large digital investments
The E&C industry is one of the
last to embrace digital technologies for business practices. Many in the
sector struggle to consolidate fragmented platforms, standardize
processes, or even attract digitally savvy talent, which has led to
decreased productivity.
The benefits of implementing digital project delivery for E&C companies
are numerous, including: remaining competitive, helping to retain/grow
market share, lowering costs, increasing productivity, ensuring safety
and delivering projects on time and on budget. With rapid progress
projected – the industry is expected to grow to $17.5 trillion by 2030 –
the E&C sector will need to harness modern technology now.
"Digital tools have become a part of our personal daily lives. And in
the E&C industry, each stakeholder is feeling the pressure to utilize
these tools on their projects – whether to streamline processes by going
paperless, or expanding the reach of BIM,” said Dr. Ahmet Citipitioglu,
Director of Engineering and Design at TAV Construction. “This report
provides a concise roadmap on where to start on the road to digital
transformation based on a wide range of industry experience.”
“It was a fantastic experience exchanging ideas with my fellow GIC
members to be included in this valuable report,” said Ichiro Ota,
Section Leader, i-EPC Section, IT Management Unit at Chiyoda. “Each
member has unique knowledge and leadership that can help the E&C
industry improve and implement digital technologies faster and more
efficiently. I’m grateful to Aconex and BCG for bringing us together.”
To learn more about “Five Keys to Unlocking Digital Transformation in Engineering & Construction”, access a copy of the report here, http://aconex.com/DigitalTransformation
--ENDS--
Source: Aconex - www.aconex.com
Contact: N/A
External Links: http://aconex.com/DigitalTransformation
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