Page 24 - Report- Procure 2020 FMi INDUSTRY

2020 FMI INDUSTRY REPORT

Buyer Behaviors When Investing in New Technology

When determining whether to invest in construction-specific technology, firms are most focused
on solutions that will enable speed and efficiency, are easy to use, and will save the company
money. Other considerations center on improving communication, keeping up with the market, and
maintaining sustainable growth.

Top 3 Criteria When Investing in Tech

1. Speed and efficiency: ranked as important by 61% of respondents

2. Ease of use: ranked by 57% of respondents
3. Cost: ranked by 50% of respondents

PLEASE RANK EACH OF THE FOLLOWING IN TERMS OF IMPORTANCE WHEN
DETERMINING WHETHER TO INVEST IN CONSTRUCTION TECHNOLOGY/SOFTWARE:

SPEED/EFFICIENCY 3.7 INNOVATION 2.5
Will allow us to do things more quickly, Will ensure we stay up to date with all the
handle larger workloads, and/or cut down relevant technological upgrades
on errors
COMPETITION 2.4
EASE OF USE 3.7 Will help us gain a competitive advantage
Will be adopted by everyone and/or catch up with our competition
COST SAVINGS 3.4 EXPANSION 2.2
Will allow us to save money Will allow us to grow in a sustainable fashion
COMMUNICATION 3.0
Will allow us to easily share information with
our customers and/or construction partners

(least important) (most important)

1 2.2 2.4 2.5 3.0 3.4 3.7 5 7

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