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New tool to help construction companies assess where they are on their digital journey

Angela Gismondi
New tool to help construction companies assess where they are on their digital journey

How prepared is your firm to take advantage of digital opportunities?

The Canadian Construction Association (CCA) and KPMG Canada have teamed up to offer a complementary digital maturity assessment tool for the construction industry that aims to help companies gauge their level of innovation.

“One of our objectives is to advance innovation, adoption of technology and new best practices…and one of our gaps is really understanding where the industry is as a whole,” said CCA president Mary Van Buren. “This tool allows us to understand where are our firms along the technology adoption curve and therefore what CCA might do to help move people along. From CCA’s perspective, it’s a way to help our members get digitally advanced.”

It only takes a few minutes to take the survey to identify strengths and gaps in your digital readiness, said Van Buren, adding the assessment takes about 15 to 20 minutes to complete. Those who complete the assessment will receive a custom report that will benchmark their firm against the industry standard of a business of the same size.

“They answer some questions and depending on what they answer, a report comes back to them which shows them where they are on the curve relative to their peers so they can see how they are doing,” explained Van Buren. “That’s very helpful to know. Are you ahead of them? Are you at the same level, or are you lagging in some areas?

“It provides a really good benchmark.”

While the tool is available to all CCA members, it can be especially useful for small and medium sized enterprises (SMEs)

“They tend to be the ones who don’t necessarily have the resources and time to figure this out,” said Van Buren. “The larger firms tend to have a chief technology officer or a chief information officer who can really lead the charge but its SMEs who are more challenged in that area. We thought an easy-to-use tool like this can help set the roadmap for them and help identify a couple of areas where they can get started.

“Like many businesses, this pandemic has led construction companies of all sizes to rethink how they can run their businesses effectively given reduced face to face contact.”

CCA was looking for a national firm with expertise in the area to help with the initiative and decided to partner with KPMG.

“It’s vital for construction companies to assess where they are on their digital journey to ensure technology and business strategies are aligned and delivering optimum return on their investment,” said Lorne Burns, KPMG Canada’s national industry leader, building, construction and real estate, in a statement. “This tool is a user friendly first step to help you measure where you stand against other firms and to help you make better informed strategic and operating decisions.

“It also provides insight on your companies capabilities in four key areas: investment strategy, internal capabilities digital maturity and risk management,” he added. “This will help you chart your course in an increasingly digital world.”

The findings collected from the tool will be used to inform the first of its kind Canadian construction innovation benchmarking report, which will set the bar for what innovation in the sector looks like, what the landscape looks like today and what players can do to bolster their maturity in the new reality, indicates a release.

The report will be shared at the CCA’s annual conference which will take place March 23 to 25, 2021.

The tool can be found at home.kpmg/ca/en/home/insights/2020/11/canadian-construction-in-the-digital-age.html.

 

Follow the author on Twitter @DCN_Angela.

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