Paul Morrell has announced plans to reduce building costs by 20%, whilst enhancing integration. As intimidating as this sounds, our Divisional Director of Tradex believes much of the technology and innovation required to achieve this isn’t actually as new as you might think.

In a recent article in Building Magazine, Tim Cole explained how a company can cut costs, enhance integration and improve sustainability, simply by embracing eTrading. Although less than 5% of the UK economy has adopted eInvoicing, the technology isn’t new. Tim argues that, by actually celebrating those who implement this technology, we will take significant steps towards encouraging others to do the same. All transactions contain valuable information, whether product data files, designs, tenders, orders or invoices. As building information modelling (BIM) becomes ever-more familiar, it becomes more and more important that we embrace a system that automatically handles the exchange and structuring of this valuable information. Tim Cole feels that electronic trading offers just such a solution; “electronic trading should be grasped and enjoyed in the knowledge that it delivers improved integration, strengthens partnering, cuts costs and improves sustainability.” Subscribers to Building Magazine can read the whole article on the Building website.

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