Walking the razor’s edge: Data to boost margins and productivity

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With the construction industry labouring under constant cost pressures and eking out thin margins on even the largest projects, it is crucial that we can maximise speed and efficiency without sacrificing quality and accuracy. Investing in the right IT, technology and software can help you harness the data that will make this a reality

It’s no secret that margins in the construction industry are razor-thin, averaging – at best – a little over 2% for the largest contractors, even on projects worth millions or billions of pounds.

It might be tough at the top but construction is an ecosystem; problems (and risk) filter down the supply chain to the small and medium-sized firms that make up the lifeblood of the industry.

When it comes to tendering, the risks are clear: rushing to complete tenders in a competitive, sometimes cut-throat, market; having to draw up templates and items from scratch each time; lump-sum pricing with no build-up of rates, wastage analysis or margins; and information that is inconsistent, thin – or wrong.

Harnessing data and software

This ebook from The Access Group takes a look at how harnessing data and software can ensure companies can respond faster to opportunities, can bid for work with confidence and, ultimately, frees up the QS to do what they do best.

Ultimately, investing in the right IT, technology and software will allow your company to harness its data in order to identify – and win – the best tenders and reduce waste, boosting productivity and those all-important margins.

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