Paris-based FINALCAD uses software, change management, and data to digitally transform the $10 trillion a year global construction industry. Since 2011, the French company, which is expanding into the infrastructure and energy sectors, has delivered more than 20,000 projects across 35 countries, and has secured over $22 million in funding from investors
“Some areas of the construction business have not evolved in the last 50 years, » says FINALCAD marketing director Aurelien Blaha. « There are more and more complex materials and regulations and practices have not kept pace. At the same time that other industries are seeing productivity double due to automation, productivity is actually declining in the construction sector and this has to be solved.”
FINALCAD’s technology enables the creation and implementation of control processes with benchmarks, predictive analytics and collection of historical data . Data collected at field level enables highly detailed analysis of operations and artificial Intelligence is expected to generate huge productivity gains.
That is no small feat because in construction not a lot of knowledge is re-used from one project to another. “When everything about a project is only in people’s heads or all of your knowledge is on sheets of paper that no one ever looks at, it is like reinventing the wheel every time you start a new project,” says Blaha. “When you start collecting a lot of data via mobile devices on-site you can start knowing what are the reasons that cause delays in progress and even be predictive. This is what gets the attention of top management because it can help earn margin points.”
FINALCAD has a strategic partnership with Eiffage, one of Europe’s leading construction and concessions companies and in July announced a strategic partnership with the international business branch of Japan’s Fujita Corporation. Other reference customers include VINCI and Leon Grosse in France, OHL in Spain, Takenaka Corporation and Shimizu Corporation in Japan, Daewoo E&C in Korea, Woh Hup in Singapore and PT PP in Indonesia.
FINALCAD is branching out into infrastructure and energy sectors. Its customers include Eiffage Route for road projects, RATP and SNCF Réseau for rail projects and Engie (as an HVAC subcontractor), Enedis and GRT Gaz.