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Estimating software helps construction professionals accurately bid on projects by automating mundane tasks and ensuring no information is left out. It can be costly, but saves money by reducing overruns and improving the bidding process. The software automates labor costs and allows for easy comparison of final costs to initial bids. Other features include quote letters and finance tracking.
Estimating software is used by contractors, builders, and other construction professionals to help estimate the cost of a construction project with the goal of presenting an accurate bid. The estimating software is designed to save costs by defining jobs and automating mundane tasks through the use of databases. It also ensures that no information is left out of the estimation process.
Software estimation can cost a lot, depending on the vendor and the characteristics of the software. However, good estimating software can save a contractor money by ensuring bids are more accurate, thus reducing overruns and unexpected costs. It also serves to help contractors improve the overall bidding process.
Too high bids mean another contractor gets the job, while low bids mean lower profits for the contractor. Overestimating materials can result in buying more than you need for the job. This money is wasted if the materials cannot be used for another job.
The main benefit of estimating software is the way it automates labor costs. The software typically comes with a construction cost database, updated monthly via subscription. Many builders will prefer to maintain their own database for labor costs so that the software more accurately reflects local costs and price fluctuations in the marketplace.
Simply having the costs of materials and labor on hand simplifies the job of the evaluator. Estimators can also use the software to define the materials and man-hours of a job. The software takes this definition and calculates the labor cost from a database of labor and material costs. This way, the estimator just has to choose a job that he has defined in the database and the software does the rest. This minimizes the possibility of some procedures or materials being accidentally taken out of the equation.
Another benefit of estimating software is that it allows the builder to look at the final cost of the job and compare it to the initial bid. The offers can then be reviewed to see how they can be made more accurate. The evaluator may decide to change the definition of a particular job within the software database, requiring less of a material or fewer hours of work.
Estimator software often incorporates other features specific to the estimator’s job. Can print a quote letter based on your input. Also, some software can act as finance software to keep track of company finances. These estimating software packages are often designed for the contractor running a small business.
