One of the fastest-growing niches in the financial advisory sector is 'construction.' But unless you spend a lot of time talking to various construction businesses about "what's going on with them" or "how they intend to handle their futures," you have no idea what a future in construction financial advisor services can mean.
Well, a new survey can guide you on what construction decision-makers think.
Graphic adapted from CMiC "Construction in Transition" survey
CMiC, a next-generation construction ERP developer, has just released findings from its first-ever primary research initiative. "Construction in Transition: Insights from 550+ Industry Leaders" provides a comprehensive analysis gleaned from surveying decision-makers within the construction sector. The study delves into critical aspects such as financial health, workforce shortages, customer expectations, and the industry's readiness for digital transformation.
The construction industry is undergoing significant transformations amidst unprecedented challenges and opportunities. The industry stands at a digital turning point, poised to enhance efficiency and innovation through digital transformation.
Data from the CMiC survey reveals that 80% of construction decision-makers are planning digital transformation projects within the next 12 months. This highlights a growing recognition of the need to embrace technology to overcome data silos, ensure project efficiency and remain competitive in a rapidly evolving industry.
By investing in technology, developing digital skills, and embracing modern ERP solutions, construction firms can navigate the challenges and shape a brighter, resilient future for the industry.
As a ProAdvisor, Consultant, or Accountant wanting to support construction businesses as they digitally transition, you won't miss the opportunity to read this report, which shares valuable insights into the industry. The 12-page survey results can be found here.
Disclosures
Feature content, including graphic illustrations, is based on CMiC information, including the cited survey. Content adapted by Insightful Accountant from CMiC sources is furnished for educational purposes only.
CMiC delivers complete and unified Financials and Project Management software solutions for construction and capital projects firms. CMiC's powerful software transforms how firms optimize productivity, minimize risk, and drive growth by planning and managing all financials, projects, resources, and content assets—from a Single Database Platform™. CMiC presently serves one-quarter of ENR's Top 400 Contractors and hundreds of small and mid-sized construction firms, from general and specialty contractors to heavy/highway and project owners. To learn more about CMiC's next-generation construction ERP, click here.
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