Quire, the pioneer in cloud-based Technical Report Management™
(TRM™), unveiled considerable growth in technical report
deliverables across the AEC, Environmental Consulting, and
Commercial Real Estate sectors.
DOYLESTOWN, Pa., July 24,
2024 /PRNewswire-PRWeb/ -- Technical Report
Management™ platform drives efficiency gains amid soaring
demand
"This data underscores the importance of
Technical Report Management and the benefits firms can realize by
applying best-in-class tools to the technical report deliverable
process," Connell stated.
Quire, the pioneer in cloud-based Technical Report Management™
(TRM™), released its latest MarketWatch report, unveiling
considerable growth in technical report deliverables across the
architecture, engineering, and construction (AEC), Environmental
Consulting, and Commercial Real Estate sectors. The comprehensive
analysis of industry report writing activity, efficiency metrics,
and trends demonstrates that customers are significantly outpacing
earlier growth projections.
Key Findings
• Technical report deliverable volume surged 32% for the first
half of 2024 compared to 2023
• Efficiency improvements were significant, with average editing
time decreasing 15% year-over-year
• All customer segments saw growth, with the 500-999 employee
segment experiencing an astounding 130% increase in report
volume
• Approximately 25% of firms with more than 1,000 employees
achieved the dual benefit of increased volume and decreased
editing time
• Customers generated more than 60 different technical report
types during the first half of 2024
• Contractor activity soared, with 70% more reports generated
than last year
"The growth in technical report activity by our customers has
been substantial. Quire's TRM solution has become a real advantage
to customers considering the challenges they are currently facing,"
notes Chris Connell, CEO of Quire.
"Demand for deliverables is high and project backlogs are at record
levels partly due to increased investment in private and public
infrastructure. At the same time, talent is scarce and labor costs
are increasing – a perfect storm of obstacles for firms looking to
grow profitably. TRM is helping customers take advantage of the
high-demand environment while providing the efficiencies required
to overcome these challenges."
Geotechnical Reports Surge
Among the diverse types of technical reports generated, the
geotechnical report category saw particularly explosive growth:
• Overall, Geotechnical Category reports are expected to
increase by over 700% in 2024 from the previous year
• Geotechnical Investigation reports grew by 2,000% over two
years, with a 1,100% increase in the last year alone
• Geotechnical Letter reports saw a significant increase of 533%
from 2023 to 2024
• Geoenvironmental reports grew 1033% in the first half of 2024
compared to the same period in 2023
Quire's 2024 annual survey revealed two-thirds of customers
anticipated growth of 10% or more. However, the TRM platform shows
that activity growth surpassed client expectations across most firm
sizes:
• 130% increase in report volume for firms with 500-999
employees
• 23% increase for firms with 20-99 employees
• 17% increase for firms with 1,000+ employees
• 6% increase for firms with 100-499 employees
The analysis also highlights notable growth in contractor
engagement. Contractors are essential partners for many customers
in creating technical reports, providing geographic reach as well
as additional capabilities to meet increasing demand. In the first
half of 2024, contractor report volumes grew by 70%, and the
average number of reports per contractor rose by more than 59%.
"This data underscores the importance of Technical Report
Management and the benefits firms can realize by applying
best-in-class tools to the deliverable process," Connell adds. "The
dramatic growth in report generation, coupled with improved
efficiency, has far-reaching consequences for our customers. Firms
can increase their capacity and take on more projects without
increasing costs. Companies leveraging TRM are gaining an advantage
by delivering higher volumes of quality reports faster than their
competitors."
Methodology
Quire's MarketWatch research analyzed customer activity for the
first half of 2024 and is based on data from over 100 direct
customers, thousands of contractors, and more than 1,000,000
technical reports generated through its TRM platform, spanning the
AEC, Environmental Consulting, and Commercial Real Estate
industries.
For the complete analysis, visit
https://openquire.com/customer-activity-review-q2-2024/.
About Quire
Quire is the leader in Technical Report Management (TRM) for
project-driven companies in the AEC, Commercial Real Estate, and
Environmental Consulting industries. Trusted by thousands of
consultants, Quire's intuitive SaaS platform streamlines technical
report and commercial proposal creation, ensuring consistent,
high-quality deliverables. Since 2010, Quire has enabled the
delivery of over one million technical reports, impacting more than
$1.5 billion in deliverable-related
revenue. For more information, visit www.openquire.com.
LinkedIn: https://www.linkedin.com/company/quire/
Media Contact
Chris Connell, Quire, 1
412-736-7665, chrisc@openquire.com, www.openquire.com
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SOURCE Quire