More than 4 in 10 contractors who recently acquired new estimating software say one of the chief benefits is improved accuracy, according to a Software Advice survey. Collin Couey examines what this type of software is and how it uses automated cost estimating to eliminate calculation errors.
In any construction project, the client is aware that an estimate is not the final number; it’s a roundabout figure. But if your estimate is way off the mark, the client’s project budget will go for a toss and so will your credibility as a contractor or builder.
A construction estimate can be inaccurate due to many reasons, such as incorrect pricing data, faulty schedules, and manual errors. If you’re facing any of these issues and are constantly worried that your quotes aren’t accurate, it’s time to consider using construction estimating software.
Per our 2021 Small Business Construction survey*, in which we spoke to 538 construction professionals, 48% of respondents purchased new estimating software in the past year and 42% say improved cost estimation accuracy is a top positive impact from adopting new software. (For a more detailed look at the survey and its results, check out 5 Construction Trends in the New Normal.)
One thing’s clear: Using estimating software can increase the accuracy of your construction quotes and provide your business an edge over your competitors.
What is construction estimating software?
Construction estimating software, also known as construction bidding software, helps streamline and simplify the sometimes complicated process of creating cost estimates for construction projects.
In the next sections, we dive deep into the software features and functionality that help you create accurate estimates and win more bids. We explain how construction estimating software benefits your business and contributes to your project’s success.
Removes calculation errors with automated cost estimating
Factoring a cost estimate manually, either by hand or using an Excel spreadsheet, is inefficient and has a higher risk of calculation errors. You’ll have to spend hours crunching numbers and double-checking the figures to ensure you’ve got the rates, taxes, etc., right. And that’ll delay the process of creating estimates and submitting them to potential clients.