In the quest to promote constant value for money, value management (VM) has been proposed and adopted within the construction industry of countries across the world. To improve the VM process for a more effective outcome, pervasive digital technologies can be employed throughout a project and in the VM process. However, developing countries like South Africa are still lagging in using these emerging technologies. Therefore, this study assessed the digital technologies that can improve the VM process and the barriers hindering their usage within the construction industry. The study adopted a postpositivism philosophical stance with a questionnaire used to gather quantitative data from construction professionals that have participated in VM exercises within the South African construction industry. The data gathered were analysed using mean item score, standard deviation, the Kruskal-Wallis H-test, multiple linear regression and exploratory factor analysis. The study found with high predictive accuracy that digital technologies such as computer-based software, BIM, mobile devices, electronic meeting tools, cloud computing, augmented and virtual realities will significantly impact the overall success of VM practices. Furthermore, the barriers to the effective deployment of these technologies in the VM process can be categorised into (1) cost and awareness, (2) complexities of the VM and digital tools, (3) the construction industry’s digital culture, and (4) the availability of technology and expertise. This study provides a theoretical backdrop for future studies exploring the use of digital technologies for VM practices—an aspect that has not gained significant attention in VM discourse in the construction industry.