Survey reveals contractors saving time through etrading

According to a recent survey and whitepaper by construction etrading technology company Open ECX, construction businesses are saving over 200 hours a year by using etrading tools.

The company says that these figures show an increasingly positive shift in the sector (Photo: AdobeStock)

The whitepaper, Construction in 2023: building innovation into the framework, highlights the financial and time-saving impact that digital tools are having in construction, especially against the backdrop of the current economic downturn.

The survey showed that 77% of construction businesses in the UK have saved between £10k-100,000 annually through eTrading.

More than 100 executives from large construction busuiness participated in the survey, which was run in November 2022.

Open ECX says that these figures show an increasingly positive shift in the sector, which has too often been considered slow to adopt technology, adding that there was still room for improvement.

Matthew Jones, founder and CEO of Open ECX, this latest data paints a clear picture, says, “Since we founded Open ECX in 2012, we’ve been beating the drum for greater digitisation within the construction industry. Our latest whitepaper and data have now shown the positive force that modern construction technology can bring with it.

“eTrading, eInvoicing and digitally based solutions are modernising the construction industry, helping to cut costs and save time at a crucial moment for the sector. With the difficulties caused by the current economic climate showing no signs of slowing down, construction business leaders know they need to stay open-minded towards technology solutions that can help enhance their companies processes and increase speed and efficiency of collaboration throughout the industry.”

To see Open ECX’s whitepaper in full, see here.