BST Global Shares Vision for the Data-Driven Consultancy of the Future
Tampa, FL, USA, Nov. 15, 2022 (GLOBE NEWSWIRE) -- International ERP and Work Management software provider BST Global shared its vision for the data-driven consultancy of the future during multiple AEC industry association events in the Fall of 2022.
Over the past three months, BST Global's Chief Executive Officer, Javier A. Baldor, and Director of AI & Analytics, Hank Tran, have attended conferences around the country, presenting breakout sessions and participating in leadership panels on how AI and big data are changing the face of the AEC industry. The executives stressed the unique opportunity AEC firms have to leverage artificial intelligence, machine learning and big data to foster a data-driven consultancy of the future that's built on project intelligencetm and powered by predictive analytics.
"The money in a consultancy is made or lost at the project level, one project at a time," Baldor explained. "The challenges we have seen after interviewing hundreds of firms around the world in the past couple of years stem from project managers and teams not using their firm's ERP and business systems. Instead, they use Microsoft Excel for everything. When we asked them why, they said ERP systems are too complex, convoluted and are extremely poorly designed. The tools that PMs use are all reactive in nature, offering only a rearview look at how the project has done from the accounting perspective."
Baldor continued, "The industry needs a ?Waze for projects,' leveraging the digital signals generated by projects to predict outcomes so PMs can course-correct ? just as Waze uses data from other users to reroute you around a traffic jam."
Tran agreed, "Imagine if your project manager could see a project roadblock three months down the road because the machine learning solution recognizes from the project's previous performance data that continuing on this path will result in a specific issue. Wouldn't you want to know in advance so you could avoid it, pick an alternative route and finish the project on time? Thanks to machine learning, that's not only possible, it's within reach."
The pair also shared details around BST Global's machine learning approach with phases focused on prediction, detection and optimization. The sessions often concluded with BST Global leadership sharing an example of machine learning at work with real client data around revenue leakage using Net Labor Multiplier as a leading key performance indicator (KPI).
This executive team showcased their innovative thinking this fall at:
- Environment Analyst's Global Business Summit 2022
- ACEC's Finance Forum 2022
- EFCG's CEO Conference
- Morrissey Goodale's Texas & Southern States M&A, Innovation and Strategy Symposium
- ACEC's 2022 Fall Conference
- Rusk O'Brien Gido + Partners' Growth & Ownership Strategies Conference
Read recaps for all our sessions here. To see any upcoming speaking engagements, please refer to our Events page.
ABOUT BST GLOBAL
BST Global designs, develops and deploys project-based ERP and Work Management solutions specifically for the world's leading architects, engineers and consultancies around the globe. More than 120,000 professionals across six continents and 65 countries rely on BST Global's solutions each day to successfully manage their projects, resources, finances and client relationships. With unrivaled industry knowledge, BST Global serves as a trusted partner to its loyal clients and remains at the forefront of innovation to evolve its products for the greater good. For more information, visit www.BSTGlobal.com.
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