Forward-thinking construction firms are exploring new ways of doing business, according to Telstra industry lead Alan Hindes. “They’re looking at different markets they can move into, sometimes quite drastically different from their core operations,” notes Alan.
“For instance, I’m seeing companies that build accommodation villages in remote sites looking at taking on the ongoing management of those villages once construction is complete – organising the cleaning service, or managing the security of the complex. I’ve even had people ask me if they think they should look at providing healthcare options. Across the board, companies are really exploring the possibilities.”
There’s widespread rationalisation happening across the industry. Many companies are openly looking at ways to reduce costs and explore new markets.”Alan Hindes, Industry Executive – Mining, Utilities, Resources & Construction, Telstra
To do this, firms need to establish solid processes that promote swift collaboration and efficient work practices. “Offering new services will usually mean partnering with other contractors to get the job done, so collaboration within the industry is at an all time high,” says Alan.
“What’s really apparent is that they’re openly looking to reduce costs across the board, and making their operations more efficient. Contracts are often won purely on price, and we’re working with a lot of customers on the use of technology to bring costs down.”
If you’d like to hear more about the trends we’re seeing in the construction industry, contact your account executive today.
In next month’s IN:SIGHT, we’ll look at some specific tools you can start using in your construction business to improve collaboration and boost your bottom line.