What are the benefits of construction estimating software?

As many will know, an estimation is a guess; a roundabout, rough figure that allows you to get a sense of what the finalised number may be. This is true in construction, as well, with projects requiring estimates to ensure the product is as high-quality as possible. 

However, sometimes, these guesses may not quite match the end result, and so this is where construction estimating software saves the day. But what exactly is it and what are its benefits? 

What is construction estimating software?

Firstly, before we dive into what it’s all about, it’s important to mention that using construction estimating software can increase the accuracy of your quotes as well as give you an advantage over companies that don’t use the technology.

Put simply, construction estimating software, which is also known as construction bidding software, is a technology that aims to streamline the process of creating cost estimates for construction projects. 

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Using automated cost estimating to eliminate calculation errors 

One of the benefits of construction estimating software is automated cost automating. Instead of having to manually enter cost estimates, the software is able to automate this process, meaning that it saves time and can be easily adjusted should a client request any changes. It essentially allows for more accurate estimates in a much shorter time frame. 

Another benefit is that it can offer up-to-date cost databases for material prices. The key to creating an accurate estimate lies in having up-to-date material prices. While these have increased sharply between 2020 and 2021, but construction estimating software gives you access to a specific online tool that scans cost databases like RSMeans for the most current material prices. The software’s cost database feature then provides the user with the most recent building supply prices for the area they are in. This means that the quote will be as accurate a representation of the current market prices as possible. 

The software also allows for the creation of a user’s own database for their most frequently used terms, meaning they will have easy access to their most commonly searched prices. In addition, it helps simplify the entire cost estimating process. It allows you to get quotes out more quickly and you’ll have updated material prices to use, enhancing the professionalism of your business.