The construction industry is facing numerous challenges, including project backlogs and supply and labor constraints, which require executives to stay competitive, scale efficiently, and keep pace with change. However, this can be difficult to achieve given daily business demands and making sure the company is moving in the right direction.
As a result, more and more businesses are seeking strategic partners who can help them solve not only technical challenges but also improve their organization. Here are a five ways construction firms are successfully developing these high-impact relationships:
1. Selecting providers that prioritize the construction industry
While many large software companies build tools that can be used across multiple industries, this approach can sometimes choke off innovation in the construction industry. Leaders find it more beneficial to work with construction companies that share their commitment and understand industry-specific needs, ensuring technology investment goes where it is most needed to make customers successful.
2. Leveraging thought leadership
To sustain a position as an industry leader, it’s important to connect with other leaders and stay up-to-date with the latest trends. Engaging in one-on-one leadership meetings and executive forums can inspire and challenge leaders to reach even higher toward their goals. Additionally, it provides them with practical actions to take to improve their business.
3. Engaging in two-way dialogs on solutions
The best software development teams prioritize high-impact, differentiated solutions, combining industry insights with novel approaches grounded in experience. Good strategic partners provide access to these processes, and customers take advantage of them to communicate their needs and ideas. They trust that the product team will evaluate their recommendations along with those of other industry leaders to come up with new and innovative solutions.
4. Ensuring Customer Success
The best software providers have a strong culture that motivates the team to advocate for their customers and go above and beyond to support them in achieving their priority outcomes. Such providers know that treating people well goes a long way to reducing the friction that comes from adopting new tech solutions. This customer-centric culture is essential for creating a strong partnership and ensuring that the provider is invested in the success of their customers.
5. Data Usage Insights
Effective strategic partners provide information on how tools are being used across teams, what this means for adoption, and what the next steps are going to be. Usage data can indicate whether a team is overusing a tool in place of another that would be more effective in reaching their goals. Benchmarking usage across teams can identify best practices to replicate elsewhere.
In conclusion, strategic partnerships can help the construction industry overcome its challenges, improve efficiency, and stay competitive. By selecting providers that prioritize the industry, leveraging thought leadership, engaging in two-way dialogs on solutions, selecting for service, and using usage insights, executives can ensure their organizations are successful and prepared for the future.
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