37.9% of builders invested more money into software last year than the year prior.
It’s no secret that improvements in project management software have been a game-changer for the residential construction industry over the last decade.
But what else is changing?
If you’re not up to date with the latest construction technology, you’re falling behind the competition. To stay ahead of the curve, you need to keep your finger on the pulse of the latest trends and improvements in construction software.
The Decline Of Spreadsheets
According to a MarketWatch study, 88% of spreadsheets contain errors. Relying on traditional project planning methods, like this one, can lead to delays and complications in a project.
Fortunately, as the industry becomes more and more professional, residential builders have started to adopt project management software, replacing spreadsheets. According to the 2023 SORCI Report, only 16.9% of respondents reported using spreadsheets, a sizable drop from 21.6% the year prior.
It wasn’t that long ago that the only software in a builder’s tool belt was MS Project!
These days, builders have many different options to choose from depending on their budget and needs. As a result, 74.1% of building companies have now adopted dedicated construction management software, compared to 64.8% in the previous year.
This statistic alone shows how, year on year, the industry is becoming more professional, and builders are adapting to technological advances.
Construction Management Software Trends
One of the many insights revealed in the 2023 SORCI Report was that Buildertrend is the worldwide go-to project management solution.
However, when we zoom in on specific regions, it’s a different story. In Australia, Buildxact retains its status as the top choice, with 30% of respondents preferring this software over any other in the industry.
As for New Zealand, the report revealed that the preferred project management software is Builda Price, with 34% of respondents choosing this software over others.
Replacing spreadsheets for construction management software like Buildertrend, Buildxact or Build Price is a major reason more builders delivered projects on time in 2022.
The Value Of Data
Until recently, builders had to rely on guesswork instead of industry research and data when making important business decisions, such as which software to use.
A lack of reliable data created blind spots that threaten the progress of a building company.
Recognising this gap, since 2020, APB has been conducting the largest industry survey with residential building companies in Australia, New Zealand, Canada and the US. By documenting the results and studying the data, we aim to improve the industry for everyone involved.
If you are a building company owner who wants to stop relying on “gut feel” and start making decisions based on industry data, you need to take part in the State of Residential Construction Annual Study.
It will only take 15 minutes to respond to all the questions, and when you’re done, you’ll have a far better understanding of how your business compares to others in the industry.
In early 2024, when the report is finalised, you’ll receive an instant free PDF copy via email, giving you access to the latest industry insights and data.
Don't miss this chance to participate in the most comprehensive international survey of residential building companies.
Click the link below and take part in the SORCI Survey.