Feeling the pressure of 9 straight quarters with a decline in total revenue, Caterpillar has acquired the equipment sharing startup, Yard Club, to get help dig themselves out of the dirt. Their most recent quarter was the company’s first positive revenue quarter since November of 2012.
Yard Club is one of a few companies that have taken advantage of the rise of the “sharing economy,” allowing users to rent their idle heavy construction equipment to other peers. It’s truly a great concept, equipment is extremely expensive and any idle time greatly impacts the return on investment. Using web and mobile apps, the system gives companies an easy way to monetize and manage their fleet of equipment. For renters, it gives them more availability and competitive pricing for the equipment they need in a hurry.
Back in 2015, Caterpillar strategically financed Yard Club, for an undisclosed amount. The equipment giant needed only 2 short years for proof of concept before diving in head first. Caterpillar will now be able to profit off of one of the concepts that has led to a decline in new equipment sales in the past few years and it’s a step in the right direction in terms of technological advancement. According to Yard Club’s website, they helped manage over $120 million worth of equipment transactions across 2,500 construction professionals in 2016.
Full Story: Caterpillar acquired Yard Club, a marketplace for construction equipment | Tech Crunch
[sponsored] Construction daily reports are necessary for project management and tracking. The need to keep accurate and complete reports has caused the industry to evolve their process from pen and paper to spreadsheet software and now into simple to use mobile apps and software. This has greatly improved the way that daily reports are created, stored, and shared.
PlanGrid users who have been wanting the ability to add additional documents to their field reports within the platform now have the ability to do so with a recent update.
Last summer, Tesla announced that the first of their solar roof tiles had been installed on test houses. However, as has become customary with many Tesla products, the company is experiencing significant manufacturing delays.
Procore, one of the country’s most popular construction project management software, has officially launched the first product in their newest platform: Field Productivity. The newest platform joins Procore’s 3 other existing platforms: Project Management, Quality & Safety, and Construction Financials.
Every year, construction technology company JBKnowledge administers one of the largest and most comprehensive construction technology reports in the country. After the surveys are completed by thousands of construction companies across the country, the data is compiled into an annual report, which identifies important industry trends. You can find the results of the 2016 survey here and the 2017 survey here.
Whether you’re looking to begin using software for the first time or update your current system, here are some ways that software can help improve your company in 2018:
Picture documentation is arguably one of the most important aspects of a construction project. They can help communicate a story, catch mistakes, and assist in warranty calls. In the past, pictures only told part of the story, because they were two dimensional and often impossible to place where they were taken on the site. Now, 360 degree photos are becoming the norm and pictures are becoming an even more powerful tool.
By all accounts, Apple has become the operating system of choice for the construction industry. According to JBKnowledge’s latest Construction Technology Report, 70% of respondents stated that they used iOS devices in 2017, and iOS was also the most used system in 2015 and 2016. Procore, another tech company that’s a favorite for the industry, has just released a fully redesigned iOS app for both the iPhone and iPad.
Early in 2018, PlanGrid announced that they would be organizing their very first annual Construction Summit, which would unite PlanGrid users and stakeholders in the company’s home city, San Francisco. At the Summit, which took place on June 10 and 11, 2018, PlanGrid CEO Tracy Young and CTO Ralph Gootee chose to announce several major product innovations and developments.
Construction Junkie's 4th Annual Best Construction Podcast Competition has officially come to an end and the results have been tallied. It was a very exciting competition this year, with several very strong competitors pulling in tons of votes.