December 04, 2024

Construction estimation software does a host of sophisticated things, like improving accuracy, encouraging collaboration between parties, and slashing admin time. Embracing it can make all the difference in delivering more competitive proposals and winning more bids.

In this article, we’ll explore eight key benefits of using construction estimating software and how it can transform your approach to pricing for your next projects.

1. Improved Accuracy

One of the most valuable aspects of construction estimation software is its ability to produce spookily accurate cost projections. When pricing for a project, it’s easy to fall into common pitfalls such as:

• Failing to account for certain building materials
• Using incorrect or outdated pricing for materials
• Miscalculating or underestimating labour costs.

Generating estimations manually is a process prone to human error and often leads to underestimating or overestimating project costs. Improper planning is one factor contributing to over 69% of construction projects exceeding their budgets.

Estimation software, on the other hand, improves accuracy by ensuring all costs are accounted for and using real-time data. Platforms like BuildPartner also provide localised pricing for different regions across the UK, giving you the most accurate information for labour rates and materials.

2. Time Savings

Another huge benefit of using construction estimating software is the time it give you back in your day. Think about how long it takes you to produce an itemised estimation. Now, consider how much time you spend doing that across the year for multiple bids.

How many days have you lost, or rather, how many days could you gain back if you were to harness the power of construction estimating software?

Platforms like BuildPartner automate the manual tasks involved in creating project estimates. At the outset of project creation, you click through a handful of intuitive screens to select rooms, specifications, and build types.

Within a matter of minutes, you’re ready to submit, and you can sit back and relax while the system does all the heavy lifting for you. The estimating software scours a database of thousands of localised material prices before generating a detailed, accurate quote.

Aside from doing all this in a fraction of the time it would take to do it manually, it also eliminates the stress.

3. Cost Efficiency

Once you’ve generated your project’s pricing, it’s then much easier to navigate the itemised breakdown – which is much more intuitive than navigating dull spreadsheets. 

Estimation software like BuildPartner allows users to easily add, delete, or change materials in the schedule, which is especially convenient when a client changes their mind or when unforeseen circumstances impact a project.

So, if a particular material is surplus to requirements, you can remove it at the click of a button. Or if you need to add a task or material, you can perform a quick search and find the relevant component.

Not only that but for each building material, you’re presented with a plethora of options in a dropdown menu. You can easily change from, say, a pedestal basin to a wall-hung basin or a vanity unit with a basin. Then, you have another dropdown list with variants from different suppliers and manufacturers, like Victoria Plum, Armitage Shanks, and The Bath Store.

Imagine if you had to manually research all the individual prices of these options? It’s all right there at your fingertips. 

4. Effective Decision Making

With such a comprehensive itemised breakdown, you are able to make much more effective decisions on what materials to include and exclude. By centralising all project costs, timelines, and resource requirements in one platform, it becomes easier to evaluate different scenarios.

All of this information, when consolidated in a central place, makes it super easy to prioritise exactly how to allocate a client’s budget so that it aligns with the project’s goal. For example, you could save £500 by switching to a different brand of paint and then allocate those funds toward quality light fittings that will leave a lasting impression.

When using BuildPartner, you can easily toggle the specification between Basic, Standard, and Premium to see the range of different pricing for a project.

5. Real-Time Updates and Live Prices

Sometimes, clients will sit on a quotation for months before awarding a contract, but prices can change in the meantime. The UK economy has faced a few turbulent years of volatile prices of building materials and commodities. Remember when timber prices surged by over 70% back in 2021, in just a matter of a few months?

So, when using construction estimation software like BuildPartner, you can easily refresh a quote to get the latest prices. Upon request, you can also gain access to your version history, so you can compare previous versions of quotes to see the differences.

At the point of quote creation, the software automatically pulls through live prices.

6. Better Collaboration and Transparency

Construction estimation software facilitates collaboration through a centralised platform. It means that internally, team members can easily make adjustments and address queries. This transparency ensures that everyone is on the same page and cut out unnecessary errors.

Speaking of transparency, some contractors appreciate being able to share the details with their clients, particularly those with strict specifications. 

It helps manage expectations by clearly outlining what’s included and excluded in the estimate, ensuring there are no points of contention once the contract is signed. By providing an itemised breakdown, protecting yourself from scope creep and potential disputes.

Clients appreciate this, too, as it gives them greater flexibility to customise pricing with an à la carte-style material schedule.

7. Cloud-Based Access

Using cloud-based construction estimating software gives users the flexibility to work from anywhere and also ensures that entire teams can access the project estimates in real time.

The most common alternative (using spreadsheets) quite often leads to issues with version control, for instance, when multiple team members are working on different versions without realising. There’s also the added risk of introducing errors when manually entering information.

Also, there is a reduced risk of data loss with cloud-based software due to the secure storage and automatic backups that take place behind the scenes.

8. Land More Bids

Who is more likely to win a contract: a contractor submitting a detailed itemised quote or a contractor who submits a basic quote with no context? 

Submitting accurate quotes builds trust with clients. Now, you can either do this meticulously, monotonously, and manually by entering every single line of detail into a spreadsheet, or you can let the software do it for you.

Aside from building trust with clients, estimating software also ensures your pricing is competitive. Without an itemised breakdown, it’s difficult to be competitive because many contractors make broad assumptions of costs and overinflate their price by X% as a buffer – often to their own detriment.

Submitting the best and most accurate price will bring you closer to winning more bids.

Construction Estimating Software Benefits

By embracing construction estimation software, contractors can create more precise estimates, win more bids, and execute projects with confidence. If you’re ready to ditch the spreadsheets and embrace a new way of working, start your free trial with BuildPartner today.

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Construction Estimation Software FAQs

Here are some frequently asked questions about construction estimation software.

What is construction estimation software?

Construction estimation software helps contractors create accurate cost estimates for materials, labour, and other project expenses. It automates calculations, organises data, and provides detailed reports to improve accuracy and save time.

What should I look for when choosing construction estimation software?

When selecting construction estimation software, ease of use should be prioritised. Many estimation software platforms have steep learning curves, which often hinder progress and usability. Look for a platform like BuildPartner, which is intuitive and allows you to create projects in minutes, even without prior experience.

Can construction estimation software help win more bids?

By providing accurate estimates, construction estimation software helps businesses submit competitive bids; and clear and transparent estimates build trust with clients, making it more likely to win contracts.