Most estimators have been there. You throw everything into putting a strong bid together and feel extremely confident. But you lose out. To make things worse, the client comes back with vague feedback and suggests the bid isn't competitive.
Nobody wants to hear that. But its back to the drawing board to try and win the next project. The good news is that building estimating software can up your win rate and improve your estimating processes.
This software is common among the top tier construction companies but less so with their small to medium counterparts. It doesn't need to be that way. The software can be affordable and easy to use, plus it saves you time, effort and resources.
So, let's look at what building estimating software is, and how could it help you win more projects.
What does building estimating software do?
Building estimating software supports all aspects of bid creation, including the the most time-consuming estimating job – the dreaded take-off.
Lots of companies rely on spreadsheets and even pen and paper to get take-offs done, and to calculate costs. But this approach eats into your time and leaves you open to costly errors. No one likes the post-contract call saying you missed something, and that's more likely when using traditional estimating methods.
Related: Top 5 challenges for estimators
Building estimating software stores everything in one place. You can access historical data on project costs, record supplier and subcontractor information, and automate the take-off process. It does all the calculations you need for materials, labour, overheads - saving you from doing endless manual sums.
5 ways building estimating software increases win rates
So, how do the software's various features improve win rates on construction project bids? Let's get into five ways now:
1. Increase estimate accuracy
You can produce significantly more accurate bids using building estimating software. Through a combination of historical cost databases and analysis of BIM models, take-off software can quickly calculate the costs and generate precise estimates.
When you're confident in the accuracy, you can produce the most competitive bid possible, and be confident that mistakes won't cost you down the line.
2. Create estimates faster
Spend less time taking off drawings and adding up costs on large projects. Generate all the data you need by simply clicking a few buttons. No more hunting for the right spreadsheet and checking and double checking formulas because the software does this for you.
Instead, you can focus the saved time on reviewing estimates and finding ways to make it more competitive. Rather than rushing, submit the bid with confidence and enjoy the peace of mind that gives you.
3. Bid on more jobs
When your busy and several live projects hit you at once, you don’t want to choose. And because building estimating software gives you more time, you don’t have to. The estimating process shouldn’t be viewed as a numbers game. But the fact is, you're more likely to win more contracts by bidding on more work.
4. Integrate with other software
Modern estimating software can connect with other technology your company is using that contains valuable pricing data. From accounting systems to project reporting and expense databases, everything can be loaded into the software. Giving you easy access to the best data that will inform your bids.
5. Requires less time to train estimators
Estimators are highly skilled professionals and often need many years of experience – that means there are few people who can do the work, and it takes a long time to train people
But with building estimating software, you can train junior staff to produce estimates faster and be more productive sooner. They win work earlier in their careers, shortening the curve between costing you money and making it.
A better approach to estimating
Causeway Estimating software is used by leading construction companies to make the estimating process significantly more efficient. By providing reliable estimates, analysing BIM models for take-off and connecting to other cost databases, it allows you to save time and produce more accurate estimates.
To learn how Causeway’s Estimating software can help you win more bids, contact us today.