Building Scale

We interview successful Architecture, Engineering, and Construction (AEC) business leaders to learn how they use people, processes, and technology to scale their businesses.

How are Top Construction Companies Looking at and Leveraging Technology

E38 • Oct 18, 2022 • 49 mins

In this episode, Justin and Will explore how advanced technology is crucial for scaling modern construction companies. They discuss the importance of investing in tech to attract new talent and the necessity of categorizing technology expenses into five key areas: software, communications, audio/video, computer equipment, and cybersecurity. This strategic approach helps in making informed decisions for business growth and managing risks effectively. A vital listen for understanding technology's impact in the AEC industry.

Key Points

Successful AEC companies categorize their technology investments into five areas: software, communications, resources, cybersecurity, and business continuity, to leverage technology for efficiency and scale.
Investing in technology, especially in cybersecurity and business continuity, is not only about immediate returns but also about hedging risks and ensuring long-term operational stability and growth.
Modern AEC companies recognize that spending on technology can attract new talent, improve processes, and ultimately lead to significant time and cost savings, outweighing the initial investment.

Connect with Justin & Will - Will's LinkedIn: https://www.linkedin.com/in/willforet/ Justin's LinkedIn: https://www.linkedin.com/in/justneagle/

Learn More & Connect With Spot Migration Managed IT Services & Support In Chicago, IL - Website: https://www.spotmigration.com LinkedIn: https://www.linkedin.com/company/spot-migration Facebook: https://www.facebook.com/spotmigration Youtube: https://www.youtube.com/c/Spotmigration

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Speakers

Will Foret

Host • 71%

Justin Neagle

Host • 29%

Chapters

0:00	Introduction and mission of the podcast
1:30	Role of technology in AEC industry and top-level construction companies
6:18	Understanding technology spend and importance of cybersecurity in AEC industry
14:31	Leveraging younger talent and technology for business efficiency
19:21	Justifying the cost of cybersecurity and consequences of neglect in construction businesses
25:27	Importance of business continuity and research in construction businesses
30:41	Long-term benefits and considerations of investing in technology
40:32	Understanding the cost implications of delaying technology investments & concept of 'soft cost loss'
46:19	The impact of technology on field operations and cost inefficiencies
48:29	Closing remarks, reflections, and invitation to listeners and potential guests

Transcript

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