Most contractors are unaware of a critical gap in their operations: real-time asset visibility. A recent report highlights that approximately 97% of contractors lack this capability, a shortfall that could be costing them significantly in efficiency and profitability. As the construction industry grapples with increasing project complexity and tight margins, understanding and addressing this issue is crucial for maintaining competitiveness.
What Happened
The findings, reported by AlignOps and published on Construction Dive, reveal a staggering disconnect between contractors' perceptions and the reality of their asset management capabilities. Despite advances in technology, most contractors believe they have adequate visibility into their assets, yet the data suggests they are operating with blind spots. This lack of real-time visibility can lead to delays, increased operational costs, and decreased productivity, as contractors struggle to track the location, usage, and maintenance needs of their equipment and resources.
What This Means for Your Business
For businesses in the AECM sector, this gap in asset visibility presents both a challenge and an opportunity. The ability to track assets in real-time can significantly enhance operational efficiency, reduce downtime, and improve project outcomes. Companies that invest in advanced asset management solutions can gain a competitive edge by optimizing their resource allocation, reducing waste, and improving project timelines. Furthermore, embracing such technology aligns with compliance and security frameworks, including the Cybersecurity Maturity Model Certification (CMMC) and NIST standards, which increasingly emphasize the importance of data integrity and operational transparency.
What US Operators Should Watch
As the industry continues to digitize, operators should monitor developments in asset management technologies and consider integrating solutions that offer real-time visibility. With procurement cycles and federal funding opportunities often tied to technological advancements, staying informed about the latest tools can position contractors to capitalize on new business opportunities. Additionally, keeping abreast of upcoming regulatory changes and compliance requirements will be critical, as these factors can influence both project eligibility and operational protocols.
Source: https://www.constructiondive.com/spons/approximately-97-of-contractors-lack-real-time-asset-visibility-most-don/824047/. Read the original story ->
Is your firm ready for what’s next?
VisioneerIT helps AECM and government contractors modernize operations, achieve compliance, and implement AI.
Explore VisioneerIT Solutions →
