Regardless of which type of construction project you’re working on, there’s always one common objective: fulfilling your client’s vision and accomplishing the goals that have been set. Before you can realise these goals, though, the state of the project’s finances needs to be considered. Your client should receive an accurate cost estimate for their project – and what’s the best way to ensure an accurate building estimation? Using a qualified building estimator and the right software.
We’re going to look at some of the reasons why having solid building estimator software on hand is crucial to the success of your construction projects.
7 Important Reasons to Use a Building Estimator
It Helps determine labour requirements.
Using a good building estimator and the right software, you can gauge labour requirements and begin the process of hiring contractors and evaluating specific roles.
This way, you’re not hiring too many contractors or too few contractors, as either situation can cause a host of financial problems. By hiring too many contractors, you could run into the issue of the client not having enough cash to pay for every contractor that you assigned to your team, as well as not having enough work for everyone.
Too few contractors and you run into the problem of not having enough workers to complete the job within a good timeframe, which pushes the cost of the project up and results in a client that must shell out more money than they expected.
Tools such as Cubit Estimating allow you to note and plan for costs accordingly to each project. Records will allow you to better determine requirements on similar projects.
Improves accuracy of estimations.
It’s easy enough – if not a tad time consuming to conduct building estimations by hand. All you need is the patience, know-how, and time on your side. Time is the major factor here and one which can often lead to mistakes. With building estimator software, you can reduce these risks.
Hand estimations are prone to flaws including transverse digits, misplaced decimals, and other human errors. Using a building estimation program, you can help ensure that every one of the projects you take on is estimated accurately and have less risk of unpleasant surprises.
Even if a mistake is made, your software should detect it before it causes too much of an issue and negatively affects the project.
Boosts company reputation.
Using cost estimating software makes your company look and sound more professional. This added professionalism does wonders to boost your reputation, allowing you to rank more highly among competitors that might still be using manual cost estimations.
Using software like this solidifies your clients’ confidence in you and your ability to complete the job.
Software and tools make the job of a building estimator that bit easier. You have less to worry about and can focus on ensuring costs are kept low and the project on schedule.
Increases profit margins.
Using a building estimator helps you save money in the long run. Not only does it help you reduce overhead costs, but it also saves you the financial trouble that comes with providing inaccurate estimations (ordering excess material, hiring too few labourers etc.).
By completing projects under or on budget with your initial estimations, you can increase net profit margins.
The initial cost for building estimator software may seem high at the start, especially for smaller companies, but the savings and gains in the long run, far outweigh any initial costs.
Prevents loss of time and resources.
One aspect of estimation software that is often overlooked, loss prevention doesn’t get the recognition that it deserves. We don’t mean loss prevention in the typical sense in this case – we’re referring to reducing the amount of financial loss that can come from accidentally skipping an expense when making your estimation.
Using software helps to make sure that no expense goes unaccounted for, regardless of how small or insignificant. When a problem of this nature strikes, companies are left to absorb the cost of the expense that was forgotten, which isn’t fun for anyone involved.
On a bad day, this issue can even cause project suspension or abandonment – something that no one wants to be responsible for and that can be avoided by simply enlisting the help of a trustworthy building estimator program.
Using powerful estimator software will allow you to contact suppliers, record previous costs and any issues that arose.
This data can all be used to prevent any losses and improve your bargaining position.
Consistency
Another awesome benefit of using building estimator software is that once you use a process, you can save it and use it on other projects. When you use a process and reuse it this way, you’re creating a sense of consistency.
Having a consistent company helps you to grow the company and be more successful, as repeat clients will begin to associate you with certain things. In addition, it makes things go more smoothly when you start a new job since everyone working on the team will know exactly how the process is going to go before it even gets started.
Efficiency
For many construction companies, the most beneficial part of using estimating software is that it’s efficient and speedy. Using a digital estimator system boosts the level of efficiency that can be achieved within any given period. Good software will save you time in processing quotes, monitoring projects, winning bids, and delegating time to other aspects of the building process.
With the time saved, you can focus on landing more projects and maintain a steady stream of projects, which works to benefit the company profit margin and boost your reputation.
Conclusion:
From increasing your profit margin and boosting your reputation as a company to creating accurate, consistent estimates and preventing the loss of time and resources, a building estimator with the right software can do wonders for your business.
It’s important to research your options and the financial feasibility of using building estimator software for your business and projects.
Each building estimator software comes with features that may be of use to you and some that you do not need. Ensure whatever you choose integrates with your existing systems and can be learned and used by your team members.
