The recent Oracle webinar, A Blueprint for Growth in Architecture, Engineering, and Construction, offered valuable insights into strategies that AEC firms can adopt to drive sustainable growth, streamline operations, and maintain competitiveness. Anthony Mass, AVP, Engineering & Construction at Oracle moderated the panel with the following industry experts:

  • Rick Wimmer, CFO, Pike
  • Michael Williams, CFO, Black & Veatch
  • Michael Fauscette, CEO and Chief Analyst, Arion Research LLC

Key takeaways from the webinar

1. Industry trends and challenges

The session began with an overview of current trends impacting the AEC industry, focusing on digital transformation, environmental, social, and governance (ESG) considerations, and increasing project complexities. Michael Fauscette of Arion Research highlighted how adopting new technologies and focusing on sustainability are no longer just competitive advantages but necessary shifts to align with evolving market expectations and regulations. “We’re starting to see a lot of more investment around energy renewables and energy efficiency, water conservation, reduced environmental impacts.”

2. Building operational efficiency through technology

Technology adoption plays a pivotal role in driving operational efficiency. Firms leveraging integrated platforms, such as Oracle’s construction and engineering solutions, have improved visibility, project coordination, and cost management. “We were one of the early adopters going into project accounting, as you know. And the journey has continued to go on. And I tell you, without that technology journey, we would not have been able to grow as we could, as well as we could,” said Rick Wimmer, CFO at Pike. Digital tools are proving to be essential for firms looking to reduce waste, optimize resources, and scale operations while remaining agile.

3. Streamlined compliance and ESG reporting

Another important theme was ESG reporting and regulatory compliance. AEC firms face increasing pressure to deliver transparent ESG metrics, both from investors and government bodies. Oracle’s cloud-based solutions offer built-in capabilities to streamline reporting, helping firms meet these demands while focusing on strategic growth.

“Whether it’s finance and accounting, project management, HR, supply chain, or even sales and service, it’s never been easier to leverage field data to make informed and timely decisions for your business,” said Anthony Mass, AVP of engineering and construction at Oracle.

4. Data-driven decision-making for better outcomes

The panelists agreed that data is a powerful driver of informed decision-making. Oracle’s Mass emphasized, “Data is the backbone of modern construction management.” With Oracle’s analytics and data management tools, AEC firms can gain critical insights into project performance, cost projections, and workforce allocation.

5. Strategies for future-proofing AEC firms

The panel concluded by discussing future-proofing strategies for AEC firms, including investing in employee skill development, staying agile to respond to market changes, and embedding sustainability into core business operations.

Michael Williams of Black & Veatch summed it up by saying, “The importance of having really good insights and data in terms of where you have exposure, let’s say in your supply chain, where you have geographic exposure, those sorts of things to be able to quickly discern those types of information, I think is really, really important to really preserving and protecting value for our company.”  

Watch the webinar

For anyone aiming to align their operations with industry best practices, strengthen resilience, and drive sustainable growth, the webinar is well worth checking out. Listen to the webinar recording.