Stacey Lewis Date published: Oct 04, 22

A number of sectors are embracing technology and data in their work, but other sectors, namely the AEC (Architecture, Engineering and Construction) industry, seem to be falling behind the rest. So we ask ourselves the question, why is this the case?

The industry is facing significant challenges

As projects in the AEC industry grow progressively larger and are becoming more complex, surely a greater emphasis should be placed on the integration of technology within the workflow process.

With increasing demand for buildings, built to a standard with lower-cost, less risk, and maintained more quickly, the AEC industry faces significant challenges. It will become increasingly difficult for firms to compete in the future if their current disparate business systems and processes are not integrated.

Evidently, technology is driving change in many major industries and The Internet of Things, Digital Twins, and BIM are just a few examples of how modern technology is revolutionizing the construction industry today.

Disputes are on the rise

A recent study was conducted where 507 AEC leaders were surveyed from around the world, mainly from the United Kingdom and the United States. The findings showed that the majority of respondents reported experiencing disputes in the last year, with a sharp increase across the industry compared to this time last year. AEC firms are not managing their information effectively to protect themselves in court despite this increase in disputes.

Of the respondents (63%) reported experiencing some sort of dispute in their business in 2021, with that number rising to 78% this year. A total of 22% of respondents have not been involved in a dispute in the past 12 months. Changes to the scope of the project (24%), issues with payments (22%), and timelines (20%) were the three leading causes of disputes.

The Golden Thread

Information management is critical to the success of project and client teams. Having a Single Source of Truth allows teams to make the best use of their time, resources, and knowledge. This of course, is if it’s done correctly.

A Single Source of Truth improves ways of working, encourages more transparent communication, and speeds up the process of change without compromising quality. This ensures that all project and clients have access to the correct information they need when they need it.

Client portals for AEC business efficiency

In order for your organisation to function effectively, it is important to have a Single Source of Truth, which allows you to have access to all of your information quickly and efficiently in one ecosystem, without silos – like a client portal. When good information management practices are adopted, you can keep your business compliant and ready for an unexpected audit.

We now know that client portals help organisations who collaborate and work with different teams and stakeholders progress much faster. Speed is critical in today’s business world and thanks to technology that bring your people, content and actions together, business is conducted more efficiently.

Ask yourself, do you have the right tools in place to carry out a proper audit trail and produce a report to pass the latest regulatory requirements?