It’s Not about Products
I want to be very clear. The Constructech 50 is not about the most innovative technology in the construction industry. Rather, it is about the companies.
This list, and much of this issue, is all about the companies that are driving change. These organizations are inspiring their employees; they are generating some pretty impressive revenue; they are providing service and education; and, perhaps most importantly, they are partnering with construction companies to help build a better tomorrow.
Having worked for years in this space, alongside technology and construction companies, both Peggy and I have seen the innerworkings of many of these organizations. We know which have skeletons in their closets. We know what drives companies. We have an odds board which will be the next to be acquired. And we also know which companies truly want to help the industry succeed.
We often turn to our editorial board and our readers to give us the inside scoop on which company is truly innovating and leading its employees with passion and drive; and also to let us know which businesses are just hanging on and aren’t serving construction companies well. There is a plethora of both in the space today.
This inside knowledge is just one part of a three-legged stool to help determine which companies will stand the test of time on the Constructech 50. We also look at revenue/financial strengths and customer growth/feedback to help determine if the company is one of the strongest in the space.
The outcome is 50—or actually more than 50—of the best companies in the space. Why more than 50? We have expanded the list this year. In the past, our focus has mostly been on software companies. Think BIM (building information modeling), project management, estimating/bidding, accounting, and so on. We are not abandoning these technology companies this year. We are still heavily focused on what is happening in this space. But now we are adding more, as the market has also grown. We now consider equipment manufacturers, tool providers, and other hardware companies that have, in many ways, become technology providers.
What has come to fruition is a list a bit longer than 50. It is a list of companies with vision; companies with stamina; and companies with the fortitude to serve the market. We hope this list will help you find the right partner for your next construction project.
… (it) is not about the most innovative technology … it is about the companies.
Who Are the REAL Constructech 50?
If you sort through the companies on the Constructech 50 you will see a mixture of firms that serve the construction space in a variety of ways. But making our ranking is more than the collection of products a company has traditionally produced; meaning it is more than the software these companies specialize in or lead in the market in terms of project management, job costing, BIM, ERP, construction management, CRM, big data, or the hardware companies you hear about with new cameras, hand tools, cranes, and other essential jobsite equipment. The companies that are chosen are much more diverse in how they are corporate citizens. They are meeting the needs of their communities, the industries they serve, the employees that work for them, and are foreshadowing the trends of the future. It takes more than profits to make our list.
You can’t buy your way on to this prestigious ranking. Every year we get asked at least once if this is a “pay-to-play.” So what exactly is pay-to-play?
According to Oxford Dictionaries, it is defined as, “…Relating to or denoting a situation in which a payment is demanded, often illegally, from those wishing to take part in a particular business activity.” Each year approximately 50 companies are chosen based on the above merits. Of those companies that are selected, each company has the option to contract the writing expertise and services of the editorial team to publish third-party assessments after the judging has been completed and to add detailed profiles to accompany its listing explaining why it was selected.
These profiles can then be used by each company as third-party endorsements for marketing purposes along with the Constructech logo for branding and marketing purposes. These profiles, whether purchased or not, do not alter whether a company has been chosen to the list this year or any year. For those companies who have opted to partake in expanded profiles, they have requested the editors to share in detail the final determination culminated from interviews with industry analysts, research conducted with construction professionals, examination interpretation based on applications submitted by the company itself, and assessments from the editorial team.
We take tremendous pride in the work we have done here and we hope the companies listed will provide you with the insight necessary to make the most informed decisions and will help you become even more successful in the coming year. Happy reading!