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eProcurement & Procure-to-Pay Resources

Spend Less Time Buying, More Time Building

Posted by Evan McEwen on November 14, 2018 at 10:30 AM

In their Vertical Market Outlook Series on construction, the Equipment Leasing and Finance Foundation noted that “2017 saw construction spending hit an all-time high in the United States and the consensus from a number of industry experts and consultants is that the momentum will carry through in 2018.”  It is clear that the construction industry is an area of growth and opportunity, but it is also an industry that, because of a lack of technology adoption, struggles to realize all the benefits of a growing market.

According to the McKinsey Global Institute, the Construction industry represents one of the least digitized industries in the world.  This lack of technology adoption could explain why, according to the PlanGrid report, “35% of construction professionals spend over 14 hours /week on non-productive activities.”

However, emerging technologies are now simplifying many of the processes that have plagued the construction industry for decades, including the buying process for a job site.

One Fortune 500 Construction company is using a solution to consolidate all of their vendor's catalogs into a single, Amazon-like Marketplace where users can search for ALL of their contracted goods, parts and services. Since they began using BuyerQuest, they've been able to dramatically reduce the time spent on non-optimal/non-productive activities by simplifying and streamlining the buying process.

By providing a highly simplified buying experience for their diverse user community - across a distributed, and often remote, operational footprint - their users can now search across over 2 Million SKUs in one place.

This company successfully deployed BuyerQuest to more than 10,000 users...in a single day.

The demand for construction projects can ebb and flow.  It is critical for businesses to maximize their revenue potential on each project, spending more time building and less time in activities such as procuring replacement goods.  

BuyerQuest makes it easier to keep your project on time and on budget.

Learn more about BuyerQuest’s expertise in the construction industry.

Topics: construction, Procure-to-Pay Technology

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