IFS shares key insights on digital transformation in construction industry

Friday, 6 April 2018 00:00 -     - {{hitsCtrl.values.hits}}

By Shannon Jayawardena 

IFS yesterday shared insights sand information on digital transformation in the construction industry through a knowledge share session under the theme ‘Digital Transformation and Construction, What’s Next?’

Engineering, Construction and Infrastructure are few of the key focus industries for IFS hence the event invited over 75 key business executives in the construction industry to bring together customers and prospects in the industry in order to educate them about the opportunities presented by digital transformation.

IFS Construction, Engineering and Infrastructure Global Industry Director Kenny Ingram said: “We are a global software company with over 1,000 users of IFS software based in approximately 50 countries. One of the biggest challenges in the industry is information modelling and one of the key focuses should be the project and asset lifecycle. We are building assets and maintaining assets.”

He stressed on the fact that things are improving but questioned the fact about the industry lagging behind other industries in adapting technology. Culture is also a huge problem when it comes to the industry. Likewise resistance to change is also a major issue. He noted that we need companies to embrace change and grow with it as there’s a lot to adapt to in terms of technology.

“Competition is crucial. We are in the global world now and we need to recognise competition. China is on the top now with a total of 26 construction companies. USA follows with 16, Japan follows with 11, South Korea follows with 10 and Spain follows with seven. So the biggest market share comes from Asia. The global landscape is changing and we need to be ready for that challenge,” added Ingram. Ingram also emphasised on the fact that it is crucial to adapt to technology and it’s also about collaborating and building assets. Managing change is a complicated challenge. Building Information Modelling (BIM) is really an integrated process to manage information across all stages of an asset. He stated that we need to be able to build projects faster and at a higher quality.

IFS South Asia Sales and Marketing Director Shiraz Lye said, “We are re-shaping the world today and we are creating wonders. We had basic needs back then such as food, water and shelter. Fast forward and then came the first micro chip, first computer, cloning and so forth which was all possible due to technology. Therefore technology plays a huge role in the world today, especially in the construction industry.” 

Digital Transformation is currently taking place on a regional and global scale. Thereby the event gave all IFS clients the opportunity to learn and grow through IT while capturing chances within a resurgent market for engineering, construction and infrastructure projects. Sanken Overseas Special Projects Director Mevan Gunatilleke stated: “Technology should not be something that disrupts but should have a seamless concept in the industry. Sri Lanka construction should embrace technology for the future.” 

He noted that looking forward to maybe 10-15 years from now the companies that use technology effectively will definitely be on the top. What we have in Sri Lanka is a small market but by streamlining this we can venture and go on to a global platform, he added.

Pix by Ruwan Walpola