Construction expenses are always in the mood of rising and most of the projects exceed the allotted budget. According to a study, almost 90% of global infrastructure projects either spend more than the estimated budget or fail to complete within time. Handling construction expenses manually can be challenging due to the chances of errors. This is the reason why using construction bidding software has become a necessity.
The construction management software helps you in managing cost estimation and budget allocation. In this blog, we have come up with a detailed discussion of construction management software and the best ways to choose the right one for your business.
What is construction estimating software?
Construction estimating software or property management software is a solution that helps to calculate, estimate and report construction costs. This particular software has both basic and advanced attributes with specialized functioning. This software can be used by engineers, contractors, architects and others. The main features of this software include the following
- It maintains a record of materials, standards and other variables
- It helps in calculating the engineering expenses, labor and material costs, taxes etc
- Tracks all types of costs
- Makes personalized proposals for customers
- It also works on making and analyzing current and old cost estimates
- It points out the exact requirements after analyzing digital drawings
Selecting the right construction estimating software helps maintain accuracy and efficiency in managing the finances of your business with critical details about scheduling and project management. Here are some of the most important components that any construction estimating software program should have
1. Convenience of use
While purchasing construction estimating software, you must prioritize its usability. This is because if a sales- person is unable to use it properly then it is of no use. Implementation time for new software can be treated as an indicator to measure its ease of use. The longer it takes to gel with the business, the bigger is the adoption risk.
Checklist for ease of use
- The time required to implement this software into your business
- The time required to train workers on the new software
- If the software is easily accessible through phone, email or online chat?
- If additional IT support is required for the proper functioning of the new software
2. The capacity of increasing revenue
The main objective of adopting a construction estimating software is to boost efficiency which ultimately contributes to increase revenue.
Checklist for the revenue increasing capacity
- Does the software provide professional and customizable quotes?
- The amount of time it takes to make and deliver a quote to a customer
- Does the software have the capacity to improve customer experience?
3. Price points
Reducing business expenses is something that every business aims for. Every business has a different budget parameter. There are a few things that determine the price of software like the cost of support that is needed for the proper use of the software, the cost of outside help if needed, opportunity cost etc.
Checklist for the software cost
- Do you need help from outside to implement the system
- Will implementing the software remove steps in the sales procedure?
- Will this software be helpful for your sales team in completing the sales cycle fast?
4. The capacity of increasing efficiency
The construction estimating software is mainly desired to increase efficiency. A few important aspects of contractor sales efficiency include collaboration features, storage and mobile sales enablement. If a particular software is accessible through tablets, mobile phones in the field or in a coffee shop then it is known as mobile sales enablement.
The efficiency checklist includes the following
- Does the software easily distribute new sales and marketing content?
- Can quotes be produced and sent in offline mode?
- Can the document storage be accessed without the internet connection?
- Do the project files are stored in a central place and is it convenient to update files?
The search for suitable estimating software is not a complicated task. I hope the above-mentioned checklist will be helpful for construction business owners find the right estimating software for their business.