Construction management platform Proficient to go regional
Malaysian construction management platform Proficient has plans to go regional, following the signing of a long-term strategic partnership with Malaysian construction and defense contractor Boustead Holdings.
The partnership itself follows the acquisition of a 10% stake in Proficient by Boustead’s digital arm, with the construction player looking to inject a monetary investment to bolster Proficient’s expansion into local and regional markets, with additional goals of accelerating more innovative functions and AI capabilities on the platform.
The signing of the partnership itself will see the use of Proficient’s proprietary construction management software in a number of Boustead’s multi-million ringgit projects across Malaysia.
“As a pioneer in Malaysia’s construction management scene, we understand the rising significance of technology in making the operational processes of developers and corporations more efficient. Using our expertise in end-to-end digital construction management, we aim to empower Boustead with the best innovations that call for the seamless transition from manual processes such as paperwork, logistics, and inventory, to a fully-automated and highly-efficient procedure,” said Jitin Girdhar, CEO of Proficient.
Proficient’s base construction management software was launched in April 2020, during the outset of the Covid-19 pandemic in Malaysia. The platform integrates the entire life cycle of the construction project management workflow. The Proficient software is also accessible as a mobile application and web dashboard that allow developers to digitally manage communications, documents, and all aspects of field operations including timeline, progress, and requirements.
Construction management to heavy industry
Boustead will also be looking into collaborating with Proficient to develop modules based on the construction management software to be applied to its heavy industry division, according to Mohammed Shazali Ramly, group managing director of Boustead.
“We believe the venture with Proficient will lead to huge opportunities that encourage enterprises to increase their efficiency through the digitalization of project management processes which will enhance governance and transparency, reflecting ESG (Environment, Social and Governance) values,”
“For Boustead, the software’s cutting-edge technology will be advantageous to our property arm, and at the same time, we are also collaborating with Proficient in exploring ways to develop new modules that can be applied to Boustead’s heavy industry division,” he said.
The companies also believe that, with Malaysia’s construction industry set to recover and further expand after the pandemic, the need for construction companies to digitally adapt to the current times is further highlighted. More than revolutionizing the construction industry in the main aspects of risk management and efficiency, digital adoption will also increase the productivity and profitability of construction processes.
For better governance
Boustead has also expressed its confidence in Proficient being able to drive better governance and transparency in the construction management process, as the use of the platform will “enormously assist in controlling and reducing” potential occurrences of mismanagement, corruption or ill-practices due to the removal of human control and bureaucratic points that are irrelevant.
“We are confident with Proficient’s scalability beyond just digitalizing project management in the construction industry. This venture will also introduce a new age of ‘digitization of governance’, which we believe can add superior value to our businesses through improved transparency and minimal human intervention that will ultimately lead to cost reductions as cost overruns and project delays are mitigated,” said Nurul Azilah Ahmad Kamil, CEO of Boustead’s digital arm.