Digitalization is a ‘big catalyst’ for the construction industry
Digitalization paved the way for faster and more efficient processes in the construction sector in the Philippines.
According to a benchmark report released by construction management software provider Procore Technologies Inc., 98% of Philippine-based firms expressed optimism on the outlook for the construction industry conditions in the next 12 months.
Additionally, around 65% of the respondents from the Philippines have increased their digital investments in the last 24 months.
However, Procore added that smaller firms are finding it hard to easily adapt to these changes. Around 44% of small firm leaders said that they are having difficulties in changing established behaviors, while 43% find it hard to overcome concerns around data security,
Procore VP of Asia Bruce Wells said that there are lots of opportunities available for SMEs to keep up with larger companies in terms of their digital transformation journeys.
He stated that “there is a great opportunity for agencies, governments to do more in educating the industries that they’re serving in terms of what best practices look like and help the folks along the way.”
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