This month I’ve had the pleasure of participating in a webinar together with International Rental News (IRN) to discuss digitization in the rental sector and the impact of the pandemic. What we found was that the global pandemic has not caused any halts in the digitization of the construction industry. It has done the opposite. Although we have to remember to stay alert when it comes to the pandemic, it gives us great confidence in our industry to see these developments.

Through the webinar, we realized that many organizations are investing in their backend systems to drive digital change. But real change has to be adopted by entire organizations. There has to be a focus on leadership, commitment, and customer-centricity. A customer-centric strategy will allow for valuable solutions that will ignite change in the industry. Read more about the webinar and our discussion and findings here.


This has inspired my choice of articles for this month. I want to dig into the value of digital technologies. How can we use the available tools, and what it means to fully adopt digital technologies. Featuring articles from McKinsey, Bain & Company, and Inc., we take a look at the next normal in construction, the value of connectivity, and the organizational culture needed to drive change.

This Month's Key Questions: 
  1. How can we, as an industry, capitalize on the momentum of the adoption of digital technologies to ensure an efficient future? 
  2. How can we continue to find new ways of using connected devices to create customer-centric solutions? 
  3. What kind of organizational culture is necessary to drive change and adoption of new technology? 
 
 

Incoming: Major Disruption in the Construction Industry


McKinsey: "The next normal in construction: How disruption is reshaping the world's largest ecosystem"


Today, the industry suffers from slow innovation and digitization as a result of a fragmented ecosystem. But transformation in the construction industry is inevitable. According to McKinsey, COVID-19 will accelerate transformation. Industry players will need to be ready. We are about to witness levels of disruption that others have experienced over the last 30 years. This article highlights where the industry stands today and what the future looks like using real-life examples and survey responses from industry leaders.
 
 
It's about quality. Not quantity. 

Bain & Company: "The Internet of Things Gets Real"


A chapter in Bain & Company’s global technology report, this article dives into the value of connected devices. The number of connected devices has not lived up to expert predictions, but the quantity of devices does not determine value. In fact, the importance here lies in the quality of the data that companies are starting to see and the resulting actions that they can take. Businesses are beginning to see how efficiency, ROI, and productivity can be drastically improved through digital solutions. This article highlights the value of IoT and gives real-world examples of businesses that have benefited. 
 
 
Saying no to silos like Tesla and Apple

Inc.: "Why Intelligent Minds Like Elon Musk and Steve Jobs Embrace the 'No Silo Rule"


How was Apple able to take on music giants Sony? How was Tesla able to disrupt the automotive industry? According to this article, the answer is simple. The no-silo rule. The notion is that when an organization grows, departments will begin to compete rather than work towards the same objective. To combat this tendency, companies like Apple and Tesla have adopted the no-silo rule. The rule seeks to bring departments together to work across functions on diverse teams to achieve common goals. This article outlines the benefits of the no-silo rule and how you could implement it in your organization.
 
 
If any of these articles have sparked any ideas or questions that you may have, please reach out to me. Initiating conversation and creating awareness is how we will be able to succeed in our journey of eliminating downtime. 

- Søren Brogaard, CCO Trackunit
 

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