Leading Kiwi tech company LeapThought announces strategic partnership with NTT DATA to help digitalise the Singapore construction sector
Auckland-based tech company, LeapThought, yesterday signed a Memorandum of Understanding (MOU) with trusted global innovator NTT DATA (Singapore) to form a strategic partnership that seeks to accelerate the pace of digital transformation in Singapore’s Architecture, Engineering and Construction (AEC) sector – a key pillar of the Singapore Government’s construction Industry Transformation Map (ITM) vision.
The construction ITM provides a roadmap for Singapore to adopt new technologies that will create jobs and improve digital capabilities, while enhancing partnerships between Government, industries and firms.
The signing was witnessed by New Zealand High Commissioner to Singapore, Jo Tyndall, and New Zealand Trade and Enterprise (NZTE) Trade Commissioner to Singapore, Rachael Kerr.
A leading player in the NZ tech export sector, LeapThought’s products have a significant footprint in New Zealand, where their design and construction management software Fulcrum continues to modernise major multi-million dollar capital projects for customers such as Auckland Transport, City Rail Link and Auckland Council.
LeapThought’s strategic partnership with NTT DATA adds to the New Zealand company’s presence in Southeast Asia, where their clients are responsible for delivering portfolios of large scale construction projects in the commercial, smart estates, infrastructure, resources, and energy sectors in the region.
The partnership builds on LeapThought’s existing relationship with NTT DATA, and will establish a joint Centre of Excellence prioritising R&D, advisory, joint marketing and business development activities. The two companies will use their complementary capabilities to commercialise products and solutions that will accelerate digital transformation in the Singapore AEC sector.
LeapThought has made significant investments to ensure its suite of products for the AEC sector, led by its flagship construction management platform Fulcrum, support digital integration and progressive collaboration within the industry, in line with the goals laid out in Singapore’s construction sector ITM. Currently, more than 200 companies in Singapore are using Fulcrum to collaborate on major construction projects.
Auckland-based CEO of LeapThought Group, Mr Ratnakar Garikipati, said, “The building construction industry in Singapore is expected to reach S$22.5 billion by 2024, and the government has a bold vision and robust roadmap to digitally transform this sector. Given the size of today’s infrastructure projects – be they residential, transportation, or industrial – it is imperative to use technology to digitise business operations and realise tangible cost savings.
“We are excited to strengthen our collaboration with NTT DATA to create solutions that will enable greater digitalisation in the AEC sector, offering users intelligent analysis of an entire construction project to help them to build smarter and faster. By streamlining construction processes we can allow for greater automation that will ultimately ensure conformity to quality and safety standards, as well as making construction sites more efficient and more sustainable for workers.”
Krishnappan Ramanathan, Managing Director, NTT DATA said, “The market size and relatively short time period to achieve the needed digital transformation brings a plethora of opportunities for technology players like us. Singapore’s initiative in leading this digital journey in this industry puts the nation at the forefront to establish this partnership in Singapore. With Singapore as the pivot, we intend to expand our reach to the rest of the region.”
“The focus of our partnership with LeapThought is to offer to the market state-of-the-art, future proof solutions which will have a tangible and direct impact on increasing productivity and efficiency,” says Krishnappan.
Ken Tsuchihashi, Chairman and CEO of NTT DATA APAC, described the strategy behind the move, “Both parties have recognized that their professional symmetry would equally apply across a broad array of business opportunities in Singapore and the region and thus, chose to enter into this MOU. This strategic initiative is aligned with the smart city initiatives of Singapore.”