Digital transformation and feasibility study for a large construction company

A digital transformation consultancy project for a large construction company from Europe with a focus on developing and implementing cutting-edge IoT technologies for service, utilities, residential houses, and building management.

Industry:

Internet of Things (IoT)

Construction Technology

TRL:

1 → 2

Project duration:

3 months

Challenge

In 2019, a large private construction company based in E. Europe turned to EnCata for advice on a digital and IoT transformation of their business. 

The company felt they needed to innovate and gain insights into the best IoT technologies, solutions, and practices to help them decrease costs, increase productivity, and secure their market share in the coming decade. The company decided to develop and implement digital transformation with an innovation development partner throughout their core businesses.

The request for a digital transformation development roadmap concerned nearly all the company’s activities, including construction management, building management, and service companies dealing with both new and existing flats, multi-story buildings, and blocks of houses. The client also wanted to optimize their infrastructure maintenance protocols and help their staff utilize available resources more effectively. 

One of the very specific requirements of the client company was to develop an affordable and flexible “smart house” solution that would be integrated into the house service system and provide residents with more information, engagement, and comfort.

Our Role

  • Devising digital transformation strategy
  • Research - conducting interviews with the company’s departments
  • Business and Technology analysis
  • Financial modeling and feasibility analysis

Technologies Used

Multilevel SWOT analysis

Multilevel SWOT analysis

Technology due diligence

Technology due diligence

Business and financial modeling

Business and financial modeling

Customer Interviews

Customer Interviews

EnCata offers comprehensive hardware and IoT product development services at a fraction of the cost

For Enterprises

R&D + design + manufacturing under ONE roof
Scale up and down your team
Intergrated hardware + software development
New technologies and research 

CORPORATIONS click HERE for more info

For Startups

MVP and POC prototypes
Affordable consultancy rates
All IP is yours
In-house batch production

STARTUPS click HERE for more info

Approach & Solution

To start the project, EnCata conducted a series of interviews with the company’s managerial and engineering staff to map the existing processes and discover where these processes could be enhanced and optimized. At the same time, our business & technical analysis team conducted extensive research to bring up existing and emerging digital technologies and IoT solutions related to construction and building and utility management business. 

The research team further analyzed new potential IoT technologies, products, and services that could serve two groups of clients:

(i) internal clients (those within the group of construction companies),

(ii) existing and potential house and flat buyers.

Our research further focused on developing a roadmap for the company’s Service Desk to use, Smart city and IoT solutions for residential blocks and flats, and to integrate the BMS / BMI system with the emerging Security System.

Provision of IoT and digital services to the property buyers can significantly increase the  LTV (lifetime value). In this case, the LTV was expected to increase by 35%.
For the construction company, this means a shift in their business model and strategy.

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Results

The project took 3 months and led to the development of a digital transformation plan for the entire group of companies. We used a combination of conventional and unique methodologies and developed several variants of business models. RACI matrices were developed for the service parts of the business. 

Financial feasibilities and ROIs were estimated for each workstream. Preliminary costs for the development and implementation were estimated, as well as calculated cost savings and bottlenecks in both product marketing and services. 

The new business model, including action plans and documentation, was created and proposed to the client.  We also proposed to unify various IoT product and service providers in a seamless software ecosystem platform and provided a marketing engagement plan. 

In developing a new business model integrating construction, IoT, utilities, and service, we increased the LTV for a flat buyer by 35%.

35%

increase in LTV of property buyers was developed

10%

in service and maintenance cost saving was established

7%

margin increase as a result of smart IoT solutions implementation

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