The Aconex Global Industry Council (GIC) Declares: “Now is the Time for Digital Transformation in Engineering & Constructio...
25 January 2018 - 7:00AM
Business Wire
New Report Authored by Aconex and BCG Shares
Key Recommendations from GIC Members to Drive Faster Adoption of
Digital Technologies in the E&C Industry
Aconex Limited (ASX: ACX), the #1 platform for digital project
delivery, today announced the Global Industry Council (GIC) –
unveiled in October – released their inaugural report, “Five Keys
to Unlocking Digital Transformation in Engineering &
Construction.” The report, authored by Aconex and The Boston
Consulting Group, outlines the many challenges faced by the E&C
industry to adopting and implementing digital technologies, and
offers practical solutions with real-world case studies. The GIC
was created by Aconex and is comprised of leaders from the world’s
top engineering and construction companies including AECOM,
Bechtel, Chiyoda, Fluor, Lendlease and TAV Construction.
“Five Keys to Unlocking Digital Transformation in Engineering
& Construction is the first clear roadmap that provides
actionable advice for asset owners, EPCs, and contractors to
transform the challenges they face with digital transformation into
opportunities for success,” said Leigh Jasper, Co-Founder and CEO
of Aconex. “Every organization is different, and one of the
report’s biggest values is giving them the knowledge of how to
prioritize areas for action that will have the largest impact on
their strategy and operations.”
Kate Nelson, GIC council member and Head of Business Technology
& Innovation at Lendlease Building, said the report sheds
further light on the importance of staying at the forefront of
digital construction technologies. “Interestingly, the report
highlights a number of cultural, as well as technical, barriers to
digital adoption many organizations are currently facing. Only by
addressing both sides of this equation will our industry be able to
fully leverage the benefits the next wave of digital technologies
promises.”
The report outlines five key challenges, with in-depth proposed
solutions:
- Integration Across the
Ecosystem: Organizations are grappling with complex digital
ecosystems that have multiple systems creating and duplicating
data
- Rationalization and
Standardization: Complex and non-standard processes need to be
rationalized across projects
- Building Digital Talent:
Organizations not only lack teams of IT experts but also a broader
workforce that is digitally savvy
- Securing Digital Adoption:
Workforce apprehension arises from cultural and technical
challenges
- Establishing Value and Return on
Investment (ROI): Organizations find it difficult to
communicate the benefits gained from large digital investments
The E&C industry is one of the last to embrace digital
technologies for business practices1. Many in the sector struggle
to consolidate fragmented platforms, standardize processes, or even
attract digitally savvy talent, which has led to decreased
productivity.
The benefits of implementing digital project delivery for
E&C companies are numerous, including: remaining competitive,
helping to retain/grow market share, lowering costs, increasing
productivity, ensuring safety and delivering projects on time and
on budget. With rapid progress projected – the industry is expected
to grow to $17.5 trillion by 20302 – the E&C sector will need
to harness modern technology now.
"Digital tools have become a part of our personal daily lives.
And in the E&C industry, each stakeholder is feeling the
pressure to utilize these tools on their projects – whether to
streamline processes by going paperless, or expanding the reach of
BIM,” said Dr. Ahmet Citipitioglu, Director of Engineering and
Design at TAV Construction. “This report provides a concise roadmap
on where to start on the road to digital transformation based on a
wide range of industry experience.”
“It was a fantastic experience exchanging ideas with my fellow
GIC members to be included in this valuable report,” said Ichiro
Ota, Section Leader, i-EPC Section, IT Management Unit at Chiyoda.
“Each member has unique knowledge and leadership that can help the
E&C industry improve and implement digital technologies faster
and more efficiently. I’m grateful to Aconex and BCG for bringing
us together.”
To learn more about “Five Keys to Unlocking Digital
Transformation in Engineering & Construction” and access a copy
of the report, visit: http://aconex.com/DigitalTransformation
About Aconex
Aconex is the #1 platform for digital project delivery on
construction and engineering projects. Aconex connects owners,
contractors and their project teams in the construction,
infrastructure, and energy and resources sectors, providing
project-wide visibility and control between the many different
organisations collaborating across their projects. With more than
70,000 user organisations in 70 countries, Aconex is the industry’s
most widely adopted and trusted platform. Founded in 2000, Aconex
is headquartered in Melbourne, Australia, has 50 offices in 30
countries around the world, and was named the #1 software company
to work for in the world by Glassdoor. For more information, visit
www.aconex.com.
About The Boston Consulting Group
The Boston Consulting Group (BCG) is a global management
consulting firm and the world’s leading advisor on business
strategy. We partner with clients from the private, public, and
not-for-profit sectors in all regions to identify their
highest-value opportunities, address their most critical
challenges, and transform their enterprises. Our customized
approach combines deep insight into the dynamics of companies and
markets with close collaboration at all levels of the client
organization. This ensures that our clients achieve sustainable
competitive advantage, build more capable organizations, and secure
lasting results. Founded in 1963, BCG is a private company with
offices in more than 90 cities in 50 countries. For more
information, please visit bcg.com.
1 The Boston Consulting Group, 2016, Digital in Engineering and
Construction. Available at:
https://www.bcg.com/industries/engineered-products-infrastructure/digital-engineering-construction.aspx
2 Global Construction Perspectives and Oxford Economics, 2015,
Global Construction 2030 – A global forecast for the construction
industry to 2030, Available at:
http://www.globalconstruction2030.com/
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Aconex LimitedHeather Meekerhmeeker@aconex.com
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