The indicator of progress and prosperity of a country is its construction sector. If the construction sector of a country is progressing and developing, it generally means that it is also experiencing growth in the commercial sector.
Contractors are the backbones of well-built countries, by laying railroads, building shopping complexes, and bringing electricity to homes and business owners. And when contractors are able to work smoothly to completion, and operate at profit margins, it’s another sign of success and progress.
In this article we’re going to examine several types of tech solutions that can benefit contractors and increase profitability.
Virtual tour software
Construction contractors make fine use of virtual tour software like Concept3D and others. Virtual tour software enables you to view an interactive map of locations and building specifications.
It also comes with an app for giving virtual tours of buildings, so this is useful for either planning renovations to existing buildings, or providing an immersive tour of a planned building. You can easily turn a space into a virtual tour, developing 3D renderings from satellite imagery, Google Maps Streetview, on-the-ground photography and digital floor plans.
Electrical bidding software
According to Service Titan, more business for electrical contractors doesn’t necessarily equate to increased profits. Particularly for small business owners, often their services aren’t priced correctly, leading to a reduced bottom line. Accidental underestimates can cost a contractor money, and overestimates can place a contractor’s bid out of the running.
Electrical bidding software can give contractors an easily accessible streamlined process for estimating the time, costs, and margins for every job. This helps ensure that contractors are able to take each job profitably, and can save a lot of time and labour.
With pen-and paper estimates — unless the tech has a phenomenal memory, or a very effective reminder system — tracking and pursuing all of the outstanding bids in their portfolio, even as they handle new jobs, can be a truly daunting task.
AI is providing remarkable solutions for many industries. While we don’t have robotic construction labour just yet, there are still ways that AI is currently benefiting the contractor industry.
AI-enhanced PPM software with forecasting algorithms can help contractors identify potential problems in planning, and revise projects to more efficiently manage time and resources. During project planning, AI can take into consideration things such as budget constraints, available workers, and other factors to identify the most efficient solutions available.
We’re still a number of years away from AI replacing all of the tasks in project management, but this allows human project managers to adapt and change the scope of their job definition, focusing more on delivering results and expectations, while AI provides tactical strategy.
One of the most interesting technologies with implications for contractors is 3D printing. It’s been said that 3D printed houses could become significantly viable in the future on a mass scale. Estimates say that home construction costs could be reduced by as much as 50%.
But even for contractors not directly involved in construction, 3D printing can reduce waste and improve cost management. Many simple types of hardware can be 3D printed, such as door hinges and corner brackets, reducing costs on purchasing those small but critical materials.
You wouldn’t use a hobbyist 3D printer with plastic materials for this type of stuff, of course. Super-strong 3D printing materials such as Onyx are able to produce heavy, durable parts for customer-facing assemblies.