From Cyber Attacks to Digital Revolution: NFB Contractors’ Perspectives on Construction Industry Trends
The National Federation of Builders (NFB) recently conducted a non-scientific research study during their Construction Summit Conference in April 2023. The study aimed to gain information on contractor perception and behaviour regarding digital transformation and cyber security in their businesses. This first publication in the NFB’s ‘Technology, Digital and Data’ series aimed to provide valuable insights and resources to NFB members. In other words, it is to assist them in navigating the challenges and opportunities presented by technology, digitalisation, and data in the construction industry.
Very much aligned with our company mission and vision, the series reflects the NFB’s commitment to supporting its members. It actively promotes the advancement of the construction industry in the digital age.
We’re here to share the key findings from the research, shedding light on the contractors’ experiences in their digital transformation journey and their approach to cyber security.
How many contractors have embarked on their digital transformation journey?
A significant 80% of contractors reported implementing digital transformation in their companies. This suggests a widespread adoption of digital technologies across the sector.
However, it is worth noting that most organisations are lacking a digital champion figure to support the business throughout their journey to digitisation.
Why decide to undertake the digital transformation journey?
The motivation behind undertaking digital transformation is primarily driven by the desire for competitive advantage.
Two-thirds of contractors reported experiencing sustainable business improvements as a result of their digital transformation efforts. This indicates that digitalisation yields positive outcomes for the majority of contractors.
What’s the biggest investment to make to ensure a successful digital transformation?
Only 20% of contractors have yet to invest in digital-related training for their staff. This signifies that a majority of contractors recognise the importance of upskilling their workforce to navigate the digital landscape effectively.
In terms of cyber security preparedness, how prepared are contractors across the country?
Only a quarter of contractors possess one of the two Cyber Essentials certifications.
This suggests that a significant number of contractors may lack the necessary cyber security standards to protect their businesses.
What’s the national awareness around cyber attacks for contractors?
24% of contractors surveyed experienced cyber attacks in 2022, highlighting the prevalence of this threat in the construction industry.
Concerningly, 20% of contractors were unaware of whether they had experience any cyber threats in 2022. This demonstrates a lack of awareness about cyber security incidents within their organisations.
What measures are being taken to prevent cyber attacks?
Approximately half of the contractors reported having a senior person accountable for cyber security. This finding implies a growing recognition of the importance of leadership in this domain.
One in three contractors confirmed assessing cyber risks on a monthly basis, which has set out a proactive approach to identifying and mitigating potential threats.
This data suggests that the majority of contractors have embraced digital transformation and are reaping the benefits, while some are not fully recognising the importance of cyber security.
This report highlights that we need to think about the awareness of cyber policies and the need for more widespread adoption of Cyber Essentials certifications. innDex, much like the NFB remains committed to supporting its partners in navigating digital transformation and enhancing cyber security within their businesses.
Get started on your digital journey today.
NOTE: The figures presented in this blog are based on a non-scientific study conducted during the NFB’s Construction Summit conference in April 2023. While the results provide valuable insights, they may not be representative of the entire construction industry.