Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry is notorious for its inefficiencies, delays, and costs. From material sourcing to project oversight, every stage of the process is prone to errors and inefficiencies. However, a Hyderabad-based startup, ProcureX, is revolutionizing the way construction projects are managed using AI. Launched on May 9, 2024, ProcureX is a one-stop solution for material sourcing, project oversight, and planning. With 10 companies and 150 suppliers onboard, the startup is poised to expand its services across Dubai and Saudi Arabia.
Co-founded by Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX aims to tackle the inefficiencies plaguing the construction sector. The startup’s AI-powered platform uses machine learning algorithms to streamline material sourcing, optimize project planning, and provide real-time project oversight. This results in significant cost savings and reduced project timelines.
The construction industry is one of the most labor-intensive and complex sectors, with multiple stakeholders involved in each project. Traditional methods of managing construction projects often lead to delays, cost overruns, and disputes between contractors, suppliers, and clients. ProcureX’s AI-powered platform addresses these issues by providing a centralized platform for stakeholders to collaborate and communicate effectively.
One of the key features of ProcureX’s platform is its material sourcing module. The module uses AI to analyze market trends, supplier capabilities, and client requirements to identify the most suitable materials for a project. This ensures that the right materials are sourced from the right suppliers, resulting in reduced costs and improved quality.
The platform’s project oversight module provides real-time updates on project progress, enabling stakeholders to identify and address potential issues early on. This reduces the likelihood of delays and disputes, and allows for more effective resource allocation.
ProcureX’s planning module is another key feature of the platform. The module uses AI to analyze project requirements, stakeholder inputs, and market trends to create a comprehensive project plan. This plan includes timelines, budgets, and resource allocation, ensuring that all stakeholders are aligned and working towards the same goal.
The startup’s AI-powered platform is designed to reduce construction project delays and costs by up to 30%. This is achieved by streamlining material sourcing, optimizing project planning, and providing real-time project oversight. ProcureX’s platform also reduces the administrative burden on construction companies, freeing up resources for more strategic activities.
ProcureX’s success is evident in the 10 companies and 150 suppliers that have already onboarded the platform. The startup’s goal is to expand its services across Dubai and Saudi Arabia, where the construction industry is thriving. With its AI-powered platform, ProcureX is well-positioned to make a significant impact in the region.
In conclusion, ProcureX is a game-changer in the construction industry, using AI to cut construction delays and costs. The startup’s one-stop solution for material sourcing, project oversight, and planning is revolutionizing the way construction projects are managed. With its AI-powered platform, ProcureX is poised to make a significant impact in the region, and its success is a testament to the power of innovation in the construction industry.
