It is time to have a real conversation about how technology is changing in the construction industry, as it could have a significant impact on your bottomline in the year ahead.
Here at Constructech, we have been watching for years as the industry has transitioned from on-premise software, to cloud, SaaS (software-as-a-service), and mobile. During this time, many of the traditional players in the market have been acquired or reinvented in order to meet the needs of the industry.
We have also kept a close eye on how the industry delivers its technology and company plans for the future. As the editors of Constructech, we watch as all this happens. We hear conversations from vendors about what is really going on in the market—behind all the PR—and we often know a major shakeup is coming. Candidly, just because a company is making noise about apps and wearables doesn’t mean it has a solid strategy for technology in construction—and therein lies the rub when selecting the companies for the Constructech 50.
Each and every year the editors of Constructech magazine spend months diligently researching the Constructech 50, which includes seeking company financials, conducting interviews with construction companies, and consulting with the editorial advisory board to determine the leaders in the space. Just because a company makes announcements about an upgraded app doesn’t mean it makes the list.
Rather, the company has to have solid financials, a good product, a concrete strategy for the coming years, and a good go-to market plan, among other factors. The Constructech 50 is about much more than the technology. It is about finding the best of the best companies that are poised to stay the course in the years ahead.
This list comes at a good time too, as construction companies need to make key decisions about how technology is going to be delivered in the years ahead, among all the recent acquisitions and the changing nature of technology today.
My advice to you—our readers—is do your due diligence when making decisions about who you are going to partner with. The Constructech 50 is a good place to start. Click here to learn more about how the market is changing and the key players in the market. The information in this issue offers insight into where the market is headed. Enjoy!
Masters in Tech and Deal Making
You can’t help but love watching construction show it has its swagger back as many companies saw their toplines beefed up as a result of a steady slew of transactions. But like most M&As (mergers and acquisitions), 2014 ended with dealmakers wanting more.
As we worked to compile the Constructech 50, we saw a spate of divestitures, mergers, and acquisitions. In fact, all these deals resulted in the largest changes this list has seen since it was created more than a decade ago. This is a clear indication the big deal making and ambitious CEOs involved were determined to make their mark in an effort to define their tenure. But it should be noted, M&As are by no means a sure thing in making a company stronger, but they sure do add to the long list of customers a company can declare, and they do fatten a company’s bottomline, at least in the short term.
Some of the deals you will read on the pages that follow are comprised of some usual suspects. These are the companies that like to grow marketshare through acquisition rather than organically. These are the companies that decide if you can’t build it, then buy it. There are others on this list that have shown their strength in building customers organically. They are masters of customer service. Although it’s difficult to speculate about the future of all these deals, some will advance the industry while others will be folded into other solutions.
The good news is the companies that have made the Constructech 50 are the best tech companies based on your needs to help you batten down the hatches and compete in the market today. Make no mistake, all this deal-making will move forward as investors continue to look for more M&As.
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