Digital Technology is Transforming Real Estate Construction
Digital services and technologies like artificial intelligence (AI), real-estate project management software, data analytics, blockchain-based smart contracts, and handheld devices are altering operating paradigms and driving digital transformation in the real estate and construction space.
These technologies are revamping the way the real-estate industry functions. With more and more people being able to access information and transact business online, the industry is seeing an increase in demand for services and technology.
The remote work shift resulting from COVID, mobile apps, digital real estate services, and technologies like the internet of things (IoT) have changed how the real estate construction sector operates. At the same time, construction technologies like BIM and cloud computing are changing the way the industry builds and maintains its infrastructure.
Real-estate construction companies can now manage their workflows efficiently and with greater accuracy than just a few years ago. Technology use has allowed for transparency and collaboration among all the teams involved in a project.
For instance, BM is a process that uses 3D modeling to create a detailed representation of a building or structure. Firms can then use this information to manage the construction process, from design to completion. BIM is becoming increasingly popular in real estate construction as it provides an efficient way to manage construction projects.
Cloud computing is also changing the real estate construction space. Cloud applications allow companies to store and access data on remote servers rather than on their local servers. These applications can help improve collaboration across teams involved in a project and reduce the need for physical storage space of data. Cloud computing also offers new opportunities for data analysis and reporting, which can help improve the efficiency of construction projects.
The digitization of the real estate industry has revolutionized the entire construction landscape. By automating processes and improving communication and collaboration, digital tools have made it easy to construct, work on, and manage properties. Digitization has also allowed real estate work management to be completely paperless and standardized.
As the real estate construction sector moves away from traditional paper-based methods and towards digitization, work management platforms like Exto represent an opportunity for companies to improve efficiency and productivity.
How an Exto Client Transformed Their Project Management Flow
Exto offers novel ways for developers and stakeholders to efficiently manage large-scale projects for the real estate construction industry. The Exto team worked with one of India’s leading real-estate and construction firms to digitize its operations. Their resume cemented them as a top player in the industry, but they relied on outdated practices, hindering their growth potential.
The real estate firm was employing manual processes and working in silos with no integrated platform, which resulted in misaligned teams, and vast amounts of time and effort wasted structuring data, ultimately leading to project delays.
The firm decided to utilize Exto for its work and project management needs. Exto’s integrated approach to documentation, collaboration, and project tracking completely overhauled their antiquated systems.
Before Exto, site engineers manually entered data into Excel, creating interdependencies between workers. Exto allowed them to instantly update progress, resolve snags, and access documents without needing to rely on other engineers.
Exto supported field workers, team leaders, and senior management. Senior management now receives consolidated, real-time progress reports, allowing them to identify inefficiencies in their daily processes and control project costs accordingly.
Leverage the Power of Exto Work Management for Insight-Driven Data
Key Exto features
- One centralized platform for project management information. Make informed decisions and stay on schedule with real-time information and progress updates
- A single repository for all documents, drawings, and photos to reduce time spent searching
- Built-in communication features to easily collaborate across teams
- Monitor project progress with comprehensive dashboards, allows users to stay on top of every issue
- Mobile app so users can track and manage project snags on the go
- Generate project reports with a single click. Make informed data-driven decisions and track project milestones, payments, and deadlines
Easily manage multiple contractors, increase field productivity, increase jobsite visibility, and reduce project delays.
Begin your Real Estate Digital Transformation Journey
Contact us today to discuss how to digitize your real estate processes.