{"id":2517,"date":"2018-09-03T07:30:56","date_gmt":"2018-09-03T07:30:56","guid":{"rendered":"https:\/\/devbloglavaprotocols.nityo.in\/the-value-of-crm-for-engineering-and-construction-firms\/"},"modified":"2018-09-03T07:30:56","modified_gmt":"2018-09-03T07:30:56","slug":"the-value-of-crm-for-engineering-and-construction-firms","status":"publish","type":"post","link":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/the-value-of-crm-for-engineering-and-construction-firms\/","title":{"rendered":"The Value of CRM for Engineering and Construction Firms"},"content":{"rendered":"
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By Nima Jarvandi,\u00a0Product Marketing,\u00a0Senior Manager, Salesforce\u00a0<\/strong><\/em><\/p>\n

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In the wake of the Great Recession of the late 2000s, some industries have been able to find their way back to a period of growth. Engineering and construction firms, in particular, have seen steady business growth with signs that the boom will\u00a0continue<\/a>.<\/p>\n

Yet, in spite of this incredible turnaround, productivity remains a significant challenge for many in these industries. And what we know to be true is that productivity has a strong correlation to profit.<\/p>\n

In Malaysia for instance, data collected from 1991 to 2010 revealed that there is indeed a strong correlation between the construction sector and the economic growth. The construction sector contributes to the country\u2019s\u00a0revenue generation, capital formation and employment creation, all of which affects the gross domestic product (GDP) and the socio-economic development of Malaysia, according to a paper by Khan, Liew, and Ghazali,\u00a0<\/a>Malaysian Construction Sector and Malaysia Vision 2020:\u00a0Developed Nation Status<\/em><\/p>\n

A global study by McKinsey<\/a> revealed that construction is one of the largest sectors in the world economy. About $10 trillion is spent annually\u00a0on
construction-related goods and services. The study goes on to say that productivity in this sector is however slower compared to other sectors, and \u201cthere is a $1.6 trillion opportunity to close the gap.\u201d<\/p>\n

In an industry where projects are getting more complex in scale and scope \u2014 maintaining a high level of productivity is critical for success.<\/p>\n

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So, What Causes Low Productivity?<\/b><\/span><\/h2>\n

According to\u00a0McKinsey<\/a>, almost one-third of the productivity gap can be attributed to a lack of digitisation, which McKinsey defines as where and how companies build digital assets, expand digital usage, and create a more digital workforce.<\/p>\n

This so happens to be an area where engineering and construction companies lag significantly compared to other industries.\u00a0Another survey<\/a>\u00a0by Roland Berger found that sales, marketing, and post-sales teams within engineering and construction companies had the most to gain \u2014 in terms of productivity \u2014 from the digitisation of data, and an increased access to data, automation, and connectivity.<\/p>\n

For some, implementing a full-scale digital transformation may seem too complicated.<\/p>\n

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Many construction companies still largely rely on spreadsheets, point solutions, and old-school \u201csticky notes\u201d to keep track of important customer data and interactions.<\/p>\n<\/blockquote>\n

All too often, information gets lost or is too hard to find, and smart employees end up wasting time re-doing work.<\/p>\n

Plus, without a centralised productivity system in place, there\u2019s no efficient way to track progress, predict results, or uncover opportunities.<\/p>\n

If any of those pain points sound familiar to you, you\u2019re likely ready to give your business\u2019s productivity a boost. Implementing a Customer Relationship Management (CRM) system<\/a>\u00a0into your engineering and construction business can help with your digitalisation process. The best ones can effectively manage critical customer information all in one place to help teams build\u00a0and\u00a0<\/i>foster a more profitable business and stronger customer relationships.<\/p>\n

Get the complete CRM Handbook here<\/a><\/span><\/strong><\/p>\n

Salesforce<\/a> has helped many companies in the engineering and construction fields digitise their businesses with the world\u2019s #1 CRM solution.<\/p>\n

Here are four ways that implementing a CRM can transform your engineering and construction business:<\/p>\n