In a world where everything is fast becoming digital, it comes as no surprise that many general contractors and even subcontractors are quickly realising how much of an invaluable tool commercial cost estimates software can be to their business. However, there are still a good number of contractors with limited knowledge about how cost estimating software works and how useful it can be for their business. If you are among this category of people, reading this article is a great idea as it is intended to show some of the numerous ways using commercial construction estimating software can assist your business, improve your productivity and boost profit in the long run.
From the name, it is easy to assume that all that a commercial construction estimating software can do is to assist you with coming up with estimates. However, this is not entirely valid. In fact, most of the estimating software out there can do much more than just construction cost estimation. A good commercial construction software platform can assist with a wide range of daily tasks thanks to its robust set of capabilities.
Of course, at the very core of a construction estimating software is its ability to facilitate the process of making estimates, but in most cases it also serves as a centralised database of estimates related information, which makes it applicable for other processes such as production of detailed reports, flexible markups, and digital takeoffs among other functions. Here is a breakdown of some of the basic functions of a commercial construction estimating software that are indeed useful for business.
Estimates
As expected, the core function of any cost estimating software is the ability to assist contractors with the production of cost estimates for their project. Without software, the process of creating estimates is not only time consuming, but can also be stressful and even expensive. Estimates are indispensable and crafting detailed and accurate estimates is important to ensure the profitability of your company. And estimating software not only makes this process a lot faster but also reduces the potential for error and increases the chances of securing a project using the estimate.
Construction cost estimates software makes it possible for contractors to create a centralised database. This is one of the features that make it useful for quick estimates production. By allowing contractors to create a database for information like labor costs, blueprints, material costs and so on, the software helps to streamline the process of creating estimates and ultimately reduces times spent on it while making it even more accurate. Additionally, using a robust platform designed specifically for estimating costs reduces the need to move data across various databases, thus cutting down on the possibilities of error among other benefits.
Crafting Digital Takeoffs
Many contractors agree that this is arguably one of the most complex and time-consuming aspects of project estimating. A material takeoff is a comprehensive list of all the materials required for the completion of a project. Because of the number of important details and information associated with takeoffs, preparing one manually can be quite difficult and not to mention time-consuming. However, by using commercial construction estimating software with digital takeoff capabilities makes it possible to easily create takeoff directly from your blueprints or project schematics. This way you can simply upload your project blueprints into the software and it automatically generates a takeoff based on the design.
Also, using the database on the software, you can easily calculate material costs based on the current market value and prices already stored in the estimates software database thus saving time and reducing stress drastically.
Flexible Markups
Another important aspect of any comprehensive cost estimate is Markups. Every project estimate must be prepared in such a way that it makes their project bids competitive while ensuring maximum profitability. Flexible markups must be applied throughout the estimation process in order to maintain this crucial balance. Software with an integrated markup system will make it possible to apply markups which can be easily adjusted and updated accordingly based on your preferences. As the markups are applied and changed, the software automatically updates the profit margin and other project totals thus making it easier to monitor the profitability of any project while keeping the bid as competitive as possible.
Integrated Reports
Throughout the period of estimation and execution of your construction projects, you will have to create reports for your clients, administrative and technical teams and even for vendors. The process of creating reports manually or using traditional programs like Excel is inevitably time-consuming and can be froth with possible errors as data is being transferred from one software to the other.
A good Commercial construction estimating software will eliminate the stress of this otherwise tedious process of creating estimates while reducing the errors associated with it through its integrated reports features which makes it possible to produce reports directly from your estimates. There are standard report templates as well as those you can customise according to the scope of your project. Apart from creating professional-looking reports, users will also be able to export reports in different formats or export it to any of the compatible integration platforms, thus making it possible to complete the reports using programs you are more familiar with.
Conclusion
Commercial construction cost estimating software are built to help contractors with all aspects of creating accurate estimates using a robust set of features that streamline the process of estimation while creating a database of information valuable for the other essential operations highlighted above. At the end of the day, the goal of using an estimating software is to cut down on time spent on creating estimates, reduces the stress associated with the process and create a more accurate, competitive and profitable estimates for all your projects that will not only help you win more bids but also boost the overall profile of your business as a truly professional contractor.