Technology
Equipment

Estimating Software: How Construction Companies Use It

With variables with materials costs, it is more important than ever to use the tools that can help improve accuracy, save time and save money.
By Garrett Wilson
February 15, 2023
Topics
Technology
Equipment

Construction is a highly competitive industry, and construction companies must be able to accurately and quickly estimate projects to stay ahead of their competition. But with the vast array of options available, it can be difficult for companies to know which job estimating software is best for their needs.
Construction businesses are looking for the following features in construction management platforms: project tracking (73%), job costing (72%), project estimating (66%), improved accuracy (47%) and process standardization/automation (39%).

It is best to look at the benefits of applying job estimation software and see how construction companies use it to manage their operations, control costs better and deliver high-quality projects.

Job Estimators Save the Company Time

Estimating software can save construction companies time by automating the estimation process. Construction companies can get accurate estimates faster and with less effort.

No longer will employees have to be sent out to jobsites and waste time with travel. Using job estimation software allows them to perform other tasks, put in additional bids or update the progress on other jobs instead.

In addition, estimating software can help construction companies keep track of their projects and progress. This can save the company time and money by avoiding mistakes and delays.

Estimation Software Increases Company Performance and Productivity

Using construction estimating software yields more accurate findings throughout the project. The program enables project teams and customers to monitor the progress of the project closely. Construction estimating software also offers project managers an exact breakdown of costs for each project.
Construction businesses are required to provide accurate quotes on projects of any size. With a constantly changing market, this may not be easy. It is critical to keep track of everything, including subcontractor expenses, equipment, materials, personnel and any unexpected difficulties that may develop.

Software Allows for Improved Planning and Budgeting

Planning and budgeting to keep job construction costs in line are major aspects of what construction companies must do. The software provides a centralized place for all project information, which makes it easy to track costs and compare estimates. It also offers tools for creating accurate budgets and forecasts for the company and clients.

Makes Communication Easier

When it comes to construction, communication is vital. That's why estimating software can be so helpful for construction companies. Estimating software can help streamline the communication process among different team members. It can also help track progress and ensure everyone is on the same page. People can refer back to the job estimating software and see the pre-determined schedule and the phases of the entire project, check the timeline for each step and know when each crew will need to be on hand to begin their work. This benefit makes the software a must-have for nearly all construction companies since there is so much overlap in how they must work.

Makes the Construction Company More Accurate

There are many ways this system can boost the accuracy of construction companies. First, it allows the company to be more accurate in its bids. This means the company is less likely to lose money on a project due to unforeseen costs.

Second, it saves time by automating the estimating process. The software allows the company to input all the necessary information about a project, including the materials needed, labor costs and overhead expenses. This information is then used to generate a bid tailored to the specific project. The company can even add in a little financial wiggle room should there be logistical delays. This can free employees to focus on other tasks, such as marketing and sales.

Finally, it can help the company win more projects, as potential clients will see that it is serious about accuracy and efficiency. Ultimately, one investment could result in a lot more ongoing work for the company as a whole.

Improves the Image of the Company to Clients

Home-based services understand the importance of always putting your best foot forward. This means delivering high-quality products and services in addition to maintaining a professional image. Your clients need to trust that you are competent and reliable.

This software allows you to create accurate estimates for your projects, instilling confidence in your clients. They know that you are using sophisticated tools to manage their project and that you can deliver on your promises. In addition, when they see how organized and efficient your company is, it reflects positively on them as well.

Estimating software is just one way construction companies can improve their image to clients, but it is crucial.

Provides Better Estimates for Jobs

Construction companies use estimating software to control construction job costs and allow for less loss. The software provides better estimates for jobs, keeps track of materials and labor costs and can create invoices and purchase orders. Estimating software also allows construction companies to manage their projects and crews.

Estimation Software Can Benefit Any Construction Company

There are many benefits that construction companies can experience by using estimation software. Perhaps the most apparent benefit is obtaining more accurate estimates. This is valuable because it can help a company avoid costly mistakes and help them win more bids. The coming year will bring selective reductions in materials costs and supply chain bottlenecks. However, despite some easing for builders, construction input costs are likely to continue rising more than overall consumer prices. Happily for contractors, as bid prices tick up, that indicates owners are willing to pay more.

With variables with materials costs, it is more important than ever to use the tools that can help improve accuracy, save time and save money. Any construction company that does not currently use estimation or general contractor business software should strongly consider doing so. It is often an investment that is quickly able to pay for itself.

by Garrett Wilson

Garrett Wilson is the president and co-founder of FieldBin. FieldBin is a field service and contractor estimate software designed for hardworking trade business owners. It allows professionals in the plumbing, HVAC, electrical, roofing and commercial cleaning fields to solve their back-office nightmares quickly. Wilson has expertise in marketing and project management with experience in multiple industries, including cyber security, health care and manufacturing.

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