With bigger, more complex projects and a myriad of challenges to navigate, today’s construction firms rely heavily on technology to manage projects across the entire project lifecycle. However, not all technology is created equal. To experience meaningful gains and digitally transform your business, you have to select the right technology.
The industry is saturated with an array of point solutions that are touted as a great way to address specific business needs. You can just add more point solutions as your needs change and you’ll have all your bases covered, right? Wrong. Unfortunately, point solutions often create more problems than they solve. Here are some of the most common pitfalls of point solutions.
Pitfalls of point solutions
Lack of integration
Point solutions often leave you with disparate systems that don’t talk to each other, so if you enter data in one system it isn’t updated across your technology solutions. This leads to double (or triple or more!) data entry, opening your business up to more costly errors and increased risk.
When your systems aren’t integrated, you don’t have a full picture of your business – you’re left with pieces of the puzzle that are scattered in different systems. This leaves you struggling to extract and connect data from multiple systems, making it difficult to identify risks and make informed business decisions.
When data is siloed in separate systems, a lot of time is wasted transferring this data between the different systems. This lack of digitalization hinders not only the efficiency of individual team members, but it can slow down an entire project. This is one of the key reasons that productivity in the AEC space has remained stagnant even though technology adoption has increased.
Hidden costs – While point solutions require lower upfront costs their total cost of ownership is much higher once you factor in hidden costs. Many will appeal to customers with their low licensing fees, but you have to add the additional cost of implementation and training. Plus, as your business needs change, you’ll have to keep adding on point solution after point solution. And that’s not even taking into account all of the time (and money) lost by having to re-enter data.