One of the best things about the world we live in is its usage of modern technology. Computers, machines, and applications all work together to help make things possible many have thought wouldn’t ever become a reality. They simply thought of it as a fairy tale many told but would never succeed with. One of the biggest industries to shift a positive direction towards integrating software is without a doubt the world of building and remodeling.
Let’s take it straight to the bottom line. Modernize how you estimate construction costs.
When you can crank outbids more efficiently and more quickly, you’ll start unlocking ways to improve your bottom line. Many people often find themselves to answer one specific question when they embark onto this journey in the new age, and that’s ” what is cost estimating software?”
To keep it simple, and straight-forward for beginners and skilled contractors both, it’s an application that’s developed specifically for its intended industry. You can enter the cost for your materials, desired profit margins, and so much more. Either from a laptop, desktop, tablet, or mobile phone. The features and flexibility you have depend solely on the construction estimating software you choose.
There are many types of construction estimating software, here’s the simplified look.
While every piece of software on the market that’s designed to estimate construction costs aims to fill the same overall purpose, there are different types. As many know, the industry branches off into several different areas of specialization. With that said, there are customized versions meant to help suit specific trades better than if one were to use a generalized app or one for another sector.
Here’s what you can expect to find when trying to discover the different ways to get a handle on adding up costs and submitting an initial bid to prospective customers.
- Architectural Design
Keep in mind that this was just a brief overview. As construction tech evolves, so will the types of bidding and cost estimation software. So as always, make sure you check to see if there’s one tailored to your specific needs, so you don’t overlook the chance to embrace a priceless opportunity.
Modern construction bids don’t have to be complex, here are the basics of how it works
Back in the early days of computers and their usage in construction, one used to be stuck with spreadsheets. This made it a mess when estimating construction costs, markups, labor, and other essential items that needed consideration during the bidding process. This would all change with this latest advancement in tech we just covered when it comes to a better way of estimates.
Now, during the initial setup (and as needed dependent on price changes/market price changes) you can enter the most common materials used for your projects. This will help you enter your material costs quicker (and at times automatically).
Once that’s done, you’ll enter your labor rates and cost per employee as well as any other data that may be missing. This will also be used when writing out job bids. Now what this does is provide you with a firm way of estimation that is more on-target and more profitable than usually ever seen before. Not to mention a higher level of accountability in general, which any businessperson would be grateful for.
You should think about using a construction communication tool to keep track of important documents and other information. A streamlined document review process leads to a better and more productive collaboration with your construction teams, along with full visibility into project data. Documents can be contracts, emails, communications, proposals, bids, and even project photos. It doesn’t make much sense to hunt for these items across various locations on the job site. Streamlining the review process puts everything you need in a single place, so you can ensure your teams are operating efficiently and—more importantly—have the correct documents for every part of the job!
Pro Tip: If you want to take it a step further, ensure a great data connection for your estimators on the go. In most areas, 4G LTE is the most that you can get from a cell phone or wireless data provider. However, the usage of 5G is taking things a step further and redefining what many already thought of as lightning speeds regardless of where they go.
The Final Rundown: What It Really Means for Contactors & Their Employees
Not only will it provide you with a more streamlined way of operating, but your employees will be grateful for the effort you put into making their jobs easier. It’s the little things that count because they add up to a lot in the long run. You’ll also find that your bids will be accepted quicker, your scheduling will be highly improved, and you won’t have to disappoint by overspending your original quote given to customers. Overall, it’s a win-win decision if you go about it the right way, just like anything else.