The construction industry is an incredibly large industry and has a number of stakeholders involved in each project. There are several groups involved from subcontractors to general contractors as well as fabricators, architects, engineers, suppliers and many more.
With all the parties involved, many individuals need to communicate. Each stakeholder needs to communicate either through documentation or in the field for decision making. Besides communication between stakeholders, communication within each company is necessary as well.
With so much data and communication to be transacted from group-to-group and individual-to-individual, a common problem in the industry is disorganized documentation and up to date documentation, where each party involved is not certain on changes that arise or decisions that has been made.
Communication can quickly dissipate as more parties and individuals get involved so this idea of data transactions introduces many inefficiencies that add costs, slow down project transactions, and increase risk for all.
The construction industry generates immense amounts of data per day; tracking this data as well as maintaining awareness between parties as schedules change, as change orders arise, etc.is very difficult and currently inefficient.
Each individual party begins with what they have and develops even more data from there; whether that is an architect generating construction documents or a subcontractor designing and installing the details of certain facets of a project. When data is created for a project and is not collaborated with other project stakeholders that may need to utilize such data, data silos arise.
Data silos are just that, a collection of project data that is contained to a specific entity or not shared amongst stakeholders for collaborative purposes.
The goal with collaborative platforms is to mitigate and eliminate data silos with the intent of maintaining a single source of truth. This single source of truth can be seen similarly to the concept of a common data environment.
Establishing that single source of truth between all involved parties ensures no miscommunication as change is inevitable with construction projects and also saves money, reduces delays, and lowers risk for all.
DigiBuild uses blockchain technology to create that single source of truth environment to eliminate the issue of disorganized documents and communication.
With DigiBuild, each stakeholder accesses the same data from a common environment and can make informed decisions based on the same data. A single source of truth has been shown to improve both construction schedules and budgets.
DigiBuild is different than all other construction management platforms due to the technology upon which it is built. Blockchain technology allows for a verifiable and provable data.
Please reach out further to understand how DigiBuild can improve your projects.