Recotech, sponsored by KPMG and held in November 2019, was a mind-blowing experience. The event was the largest side event of Slush, attracting startups, industrial players, and VC investors globally. The air of the venue, an old train factory, was thick with innovation and optimism. Will this industry eventually renew itself?
The situation reminds me of the sustainability trend. Some 5–10 years ago there was much talk, but little action. Now, independent of the industry, sustainability has become an integral element of any successful business.
In the digitalization of the construction and real estate sector, talk is beginning to turn into action. The first large step has been taken: the industry has acknowledged that the inevitable change will happen and the first digital solutions can be found in the market. However, many still fumble around thinking what does this all mean to my company? The change is especially big for the industry because digitalization also welcomes international and cross-industry competition.
We at KPMG are well positioned to help you in the middle of the industry disruption. We have exceptional combination of digital, strategic and industry expertise in our team, seasoned with years of in-house experience in companies in this field. This brings also some realism to how to drive cultural change inside the organisation. Via our international organization, we share the newest digitalization trends in the industry on a weekly basis and translate them to concrete action proposals for our clients.
The change is especially big for the industry because digitalization also welcomes international and cross-industry competition.
Digitalisation cannot be approached as a separate issue, but it needs to be linked to the daily reality of e.g. construction sites and real estate maintenance. For some, a concrete first action point is taking advantage of the company data in a systematic and efficient way. For another, the next step can be e.g. developing one’s own digital solution or ensuring the most competitive position in the industry digital ecosystem.
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