I was recently reading the 2014 Market Survey completed by FMI Corporation and while a lot of the survey confirmed most of what we already knew, aging population is driving healthcare cost and in 2014 we will see a rise in the economy with cautious optimism, it also emphasized the need for contractors to strategize more than ever on how they can build a competitive edge. That is more than just looking at how to win bids, but rather how the business is going to drive profitability with each project, often by looking at organic growth through joint ventures, P3s and acquisitions.
With many of the industry’s largest tradeshow events like World of Concrete and ConExpo, taking place during the first part of the year, these events become a mecca for new products and technologies built specifically to help contractors stay competitive and increase profits among other initiatives. In fact, many of the exhibiting organizations use these events to launch new products and services for contractors. We were no different, as we launched our BIM Manager App for the Viewpoint For Project Collaboration solution at World of Concrete this past week. It was exciting to discover that this exceptional collaboration product was of great interest to most of the contractors that visited our booth.
I was fortunate to attend World of Concrete despite the speculation going into this year’s event , that it would be sparsely attended compared to years past due to the fact that ConExpo, an event that only occurs every three years, is approaching in March and contractors may choose to attend that event instead. To add to the possible attendance woes, the eastern part of the country was experiencing a snow storm impeding travel all over the country. Speculations were valid, but glad to see that this ended up not being the case! After all, who wouldn’t want to get away from the cold weather and head to sunny and somewhat warm Vegas for the week! One area of the world that really seems to get the concept of organic growth through P3 partnership is Canada and we were excited to see so many of our Canadian contractors at the show. The major trend that we saw is that contractors are really looking at best of breed technology that can solve their specific needs, while having the ability to integrate to other best of breed technology already in place. This means looking at standalone applications like Enterprise Content Management, Mobile Field Applications and Project Collaboration. As contractors look at their business and determine their initiatives for the year, they begin to evaluate whether core technology, such as accounting, will get them where they ultimately want to go. A lot of the contractors that I had the opportunity to speak with were less concerned about today, but rather more concerned about tomorrow and how their systems are going to be able to handle serving their long term needs. I’m noticing that as more contractors heed the advice of organizations like FMI and strive to stay competitive through joint ventures and partnerships, technologies like project collaboration become even more important.
Overall, it was a great show and exemplifies that 2014 will be a year where contractors will be working smarter to gain profitability.
Learn more on how Viewpoint can help at www.viewpointcs.com/solutions.