6 Ways A Construction Management Software Can Streamline The Residential Construction Bidding Process
You have the job, you want to get started, you need to assemble a team. Unfortunately soliciting, receiving and evaluating bids from Suppliers, Contractors and Trades can be a lengthy process. You have to qualify Subcontractors that meet your project specifications, choose reputable and affordable ones to send requests for bids, deal with their questions and any changes that occur in the project, hurry up and wait for their responses and then evaluate every bid, check them against each other and choose the winner...in each category.
Fortunately, it’s possible to make this process much more efficient with bidding software designed for residential Home Builders and Suppliers. This software can streamline and improve your bidding process in multiple ways.
1. Bids Created and Issued Quickly
With bidding software, you can create templates once and use them for multiple projects. It’s easy to add in the relevant information and make any changes necessary for a specific project. All bidding materials will be accessible digitally in one place, so adding and communicating project plans, scope, specifications and regulations is also simple.
With bidding software that is integrated into your construction management software, you can also save time sifting through your phone and email lists to identify the right subcontractors to contact. In minutes, you can scroll through your master list, select the Suppliers, Contractors and Trades that are appropriate for a particular job, and issue invitations and relevant information. You can even record and access information on each Subcontractor on your master list and pre-qualify them for a specific project, based on factors like size and capacity, experience, bid history, financials, bonding and safety records.
2. Swift Bid Turnarounds
With the entire bidding process handled online, all of your bidding information is communicated instantaneously. If you need to communicate updates to your bidders, those are also sent in real-time, so changes don’t hold up the process. Your software can also help reduce or eliminate the irritating issue of waiting on bids that are late. You know your subcontractors are busy, but often they just need a reminder to submit bids in a timely fashion. You can boost efficiency and on-time bid percentages by automating reminders through your software, setting them up at the beginning of the process and getting on with important tasks other than hunting down your bidders.
3. Bid Management Costs Reduced
When the process is fully digital, costs associated with printing and postage are eliminated. In addition, automation and organizational features will reduce your staff-time expense and free your team to focus on revenue-generating tasks.
4. Simple Bid Organization and Sorting
Once you start to receive bids, you need to sift through them. Especially if you have multiple bidding processes going on at once, it will help to be able to sort all of your bids by house plans, vendors, trade codes, options and more. You can also keep notes on each potential Subcontractor, track conversations and keep records of all communications so that this information is accessible to anyone on your team who needs it.
5. Side-By-Side Bid Comparisons
The best bid isn’t always the lowest bid. Using bidding software gives you two advantages in evaluating bids. You can standardize the submission process and forms to gather information that’s as directly comparable as possible, and you can literally view them side-by-side on your computer, tablet or phone. Save time finding the best bidder to deliver quality and protect your profitability.
6. Value Engineering
Data analysis can even take you one step further in evaluating bids. Perform "what-if" scenarios with bid responses to determine the most profitable, manageable and cost-effective mix of trade partners for each project.
Streamline Your Residential Construction Bidding Process With BidConnect
Hyphen Solutions’ BidConnect software gives you the ability to manage all of your project bids quickly and easily. Easy integration with BuildPro and SupplyPro offers convenient access for Builders, Suppliers, Contractors and Trades, making bidding and awarding projects a seamless part of residential construction management. Ask us for a demo today to see how your bid management process can be improved by integrating BidConnect.