Building a Digital Transformation Road Map: A Guide for Small and Medium Sized Construction Companies

The construction industry is currently undergoing a digital revolution as more businesses realize the benefits of digital technology and 5G connectivity. This digital transformation is generating robust ROI, as IDC found that 25% of digitally determined SMBs saw revenue growth six percentage points higher than that of less digitally mature SMBs. However, achieving digital transformation can be complex and challenging. Construction companies on the path to DX must navigate technical, knowledge, process, and resource challenges such as disparate, disconnected project data. Additionally, construction SMBs are facing not only increasingly complex building information management (BIM) models that are beginning to include cost and project data but also a lack of continuous collaboration from design to project to owner. This document, the second in a four-part series on innovation in the construction industry, discusses why and how construction companies are embarking on digital transformation journeys.