BuiltWorlds’ Benchmarking Program is designed to identify what solutions are being used today, how widely those solutions are being used, and the quality of those solutions in relation to five essential categories–Preconstruction, Project Management & Oversight, Offsite (Modular) Construction, Field Management Solutions, and Tools, Equipment & Robotics. Comprehensive surveys are provided throughout the year, where we then compile aggregated data to paint a full picture of current technology and innovation solutions in the built world. Within this piece we will be assessing our survey data and discussing contractor size and its correlation to technology adoption.
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Based on our survey data, it is evident that larger companies have a greater number of dedicated personnel dedicated to innovation. They possess a higher count of innovation leaders and VDC professions when compared to smaller companies. Despite the smaller numbers of dedicated staff, smaller companies are more actively investing in technology and are increasing their budgets in greater numbers than their larger competitors.
Interestingly, in several areas, both large and small companies exhibit similar technology adoption. When observing collaboration and document management systems, smaller companies actually have a slight advantage over the larger industry players. Similarly, in the realm of accounting systems, respondents to our Project Management Survey from both small and large companies show comparable levels of implementation. Surprisingly, even in areas such as AI-enabled tools, companies with 500+ employees are almost on par with those having fewer than 100 employees.
The disparities arise in more nuanced areas like Safety and Risk Management Software, where larger companies are more apt to employ software solutions. We also see greater implementation of business intelligence in large companies. However, this discrepancy is not entirely surprising, given that larger companies have more extensive operations and risks they have to manage. In smaller companies, top management may have a closer connection to the work, reducing the need for certain types of software.
The Project Management & Oversight Survey is just one of the major areas that BuiltWorlds investigates, but it offers intriguing insights into the impact of a company’s size. Priorities from project management solutions may vary between small and large contractors and these variations can be justified through our data. The disparity does not necessarily reflect the sophistication level of the contractors, as there are several other areas where both large and small contractors may be equal, or a smaller contractor may have made more progress in implementation.
If you are interested in accessing how your company compares, we invite you to take the Project Management & Oversight Survey and receive a complimentary assessment. Our analyst will provide you with a free, comprehensive look of your company’s performance relative to other contractors. Additionally you can join the program to access over 25 reports covering various types of tech solutions available in the market, with a special 20% discount on your first year of participation.