Study Shows Significant Benefits for General Contractors Utilizing Technology to Manage Subcontractors

  • Posted on

A new study from Dodge Construction Network, in partnership with GCPay, reveals that only one in three (34%) of general contractors automate fewer than half of their subcontractor management processes. The report details data-based benefits of greater automation and digital transformation by general contractors, including increased productivity, profitability and cost performance. Most general contractors rely on subcontractors to generate successful projects, making managing subcontractors vital to their business. Many general contractors are also experienced in utilizing digital tools for these processes; however, as the Optimizing Subcontractor Management with Technology SmartMarket Brief reveals, many general contractors rely on a proliferation of older solutions, making integrating … Read more

Filed under: NewsTagged with: ,

How Civil Contractors Are Managing the Biggest Challenges They Confront

  • Posted on

The latest edition of The Civil Quarterly from Dodge Construction Network shows that despite ongoing labor issues, business conditions are still very strong for civil contractors, with 77% optimistic about the market continuing to be robust for the remainder of 2023, and 46% expecting to see their profit margins increase in the next six months. However, the strong construction market can also exacerbate civil contractor’s ongoing challenges, such as skilled worker shortages and supply chain challenges. This edition of the TCQ offers new data that reveals how contractors are managing these challenges, including how they are attempting to use technology … Read more

Filed under: Economic NewsTagged with: ,

Dodge Construction Reports Total Construction Starts Slip

  • Posted on

Total construction starts fell 27% in January to a seasonally adjusted annual rate of $865.6 billion, according to Dodge Construction Network. During the month, nonresidential building starts fell 38%, residential starts lost 20% and nonbuilding starts declined by 16%. Comparatively, total construction was 14% lower in January 2023 than in January 2022. Nonresidential building starts were down 2%, nonbuilding starts rose 10% and residential starts lost 34%. For the 12 months ending January 2023, total construction starts were 13% higher than the 12 months ending January 2022. Nonresidential starts were 36% higher, residential starts lost 6% and nonbuilding starts were … Read more

Filed under: Economic News, eNewsTagged with: ,

Total Construction Starts Increase in December

  • Posted on

Total construction starts jumped 27% in December to a seasonally adjusted annual rate of $1.185 trillion, according to Dodge Construction Network. During the month, nonresidential building starts increased 51%, nonbuilding starts increased 30% and residential starts rose less than 1%. Across 2022, total construction starts were 15% higher than in 2021. Nonresidential building starts rose 38% over the year, nonbuilding starts were up 19% and residential starts were down 3%. Nonbuilding construction starts rose 30% in December to a seasonally adjusted annual rate of $281.4 billion. The utility/gas category was the main driver of the growth due to the start of a transmission … Read more

Filed under: Economic NewsTagged with: , , ,

Digital Workflows Help Design, Construction Companies Manage Projects, Companies Better  

  • Posted on

The ability to share digital data effectively is a critical factor that impacts the success of digital transformation in the design and construction industry. This includes both the ability to share data within different departments in the same company or across multiple companies involved in the same project. New research from Dodge Construction Network, together with Trimble, published in the Connected Construction SmartMarket Brief series, reveals that owners, architects, engineers, general contractors and specialty trades are utilizing digital workflows to share project information. The findings show, though, that internal connections are far more common than external ones, with nearly half of all respondents (48%) … Read more

Filed under: NewsTagged with: , ,