Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry has long been plagued by inefficiencies, delays, and costs that can be staggering. From material sourcing to project oversight, every stage of the process can be fraught with difficulties. However, a Hyderabad-based startup, ProcureX, is using AI to revolutionize the way construction projects are managed, cutting costs and delays in the process.
Co-founded by Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX was launched on May 9, 2024, with a mission to provide a one-stop solution for material sourcing, project oversight, and planning. The startup’s innovative approach is already gaining traction, with 10 companies and 150 suppliers onboard, and plans to expand to Dubai and Saudi Arabia in the near future.
The problem with traditional construction management is that it is often a manual, labor-intensive process. Contractors and builders spend a significant amount of time and resources on tasks such as material procurement, inventory management, and project monitoring, which can lead to delays and cost overruns. Additionally, the lack of transparency and visibility into the supply chain can result in disputes and inefficiencies.
ProcureX’s AI-powered platform aims to address these issues by providing a centralized platform for construction projects. The platform uses machine learning algorithms to analyze data from various sources, including project plans, material specifications, and supplier information, to identify potential bottlenecks and inefficiencies.
With ProcureX, contractors and builders can source materials from a network of verified suppliers, track inventory levels and project progress, and receive real-time updates on project status. The platform also provides advanced analytics and insights, allowing users to optimize their supply chain and make data-driven decisions.
The benefits of using ProcureX are numerous. By streamlining the material sourcing process, contractors and builders can reduce delays and costs associated with material procurement. The platform’s advanced analytics and insights enable users to identify potential issues early on, allowing for proactive measures to be taken to mitigate them.
Moreover, ProcureX’s platform provides a high degree of transparency and visibility into the supply chain, reducing the risk of disputes and inefficiencies. The platform’s automated tracking and reporting capabilities also enable users to monitor project progress in real-time, allowing for timely interventions and corrections.
One of the key advantages of ProcureX is its ability to integrate with existing systems and processes. The platform can be easily customized to meet the specific needs of each project, and its user-friendly interface makes it easy to use even for those without extensive IT expertise.
ProcureX’s founders are passionate about using technology to solve real-world problems, and their experience in the construction industry has given them a unique understanding of the challenges faced by contractors and builders.
“We saw firsthand the inefficiencies and delays that are all too common in the construction industry,” said Aravind Maroju, co-founder of ProcureX. “We knew that there had to be a better way, and that’s why we set out to create a platform that would revolutionize the way construction projects are managed.”
The response to ProcureX has been overwhelmingly positive, with 10 companies and 150 suppliers already onboard. The startup plans to expand to Dubai and Saudi Arabia in the near future, with plans to expand to other regions later.
As the construction industry continues to evolve, it’s clear that technology will play an increasingly important role in shaping its future. ProcureX is a prime example of how AI and innovation can be used to drive efficiency, reduce costs, and improve outcomes. With its one-stop solution for material sourcing, project oversight, and planning, ProcureX is poised to become a major player in the construction industry.
