6 Benefits of A Construction Bidding Software
When residential construction bidding is done correctly, this can increase a Builder’s profits while strengthening their professional network of Subcontractors and Suppliers. Unfortunately, the residential construction bidding process is too often time-consuming, expensive and fraught with errors. But this doesn’t have to be the case if companies do their due diligence and learn how to bid construction jobs properly. Construction bidding software plays a huge role in bidding construction projects because the right solution can effectively eliminate the many issues associated with preparing manual bids. Companies seeking to greatly improve their construction bid process should look for a product that incorporates the ability to streamline these six tasks.
Turn Bids Around Quickly
If a Builder waits too long to bid on a project, the client will likely have already hired another Contractor. A study from InsideSales.com showed that companies are 100 times more likely to get in touch with a prospect if they contact them within five minutes of viewing a proposal1. In a highly competitive market, being able to receive and respond to bids faster provides a huge advantage.
Create Quick and Accurate Bids
With manual bidding, it’s a common mistake to neglect elements not found in drawings, such as special waste removal requirements or the need for temporary office space for your construction manager and team. In order to accurately bid on construction projects, it’s essential to take the time to read through spec pages and include anything that can impact project costs. Bidding management software that includes templates and access to drawings, project plans, scope, specifications and regulations greatly reduces or completely eliminates overlooking these important details.
Eliminate Bid Management Costs
Bidding software saves invaluable time and resources because all parties have online access to essential information. From reducing the time employees spend doing these tasks to eliminating postage, shipping and fax costs, the right software solution saves money.
Perform What-If Scenarios
Closely tracking past job costs including material/equipment usage can lead to smarter bidding. Having complete and relevant data provides a more inclusive picture of the most profitable, manageable and cost-effective mix of Trade partners for each project. Analyzing data ensures bids are more accurate for future projects, while increased efficiencies help boost a company’s reputation and ultimately result in winning more bids.
Simplify Bid Sorting
Sorting through stacks of current and past bids is incredibly time consuming. Software that provides the ability to manage and sort all bids in a matter of seconds reduces costs and eliminates human oversights.
View Bid Comparisons Side by Side
Contractors can fall victim to the low-bid mindset, believing that the lowest bids land more jobs and therefore increase revenue. It’s a given in residential construction for Builders to prequalify Subcontractors to ensure their past projects met quality and performance goals. Likewise, getting a minimum of three competitive Supplier or Subcontractor bids and comparing them side by side goes a long way to ensuring hiring the best company to handle the job based on many factors, in addition to price.
Discover the Many Benefits of Construction Bidding Software with Hyphen BidConnect
BidConnect provides the ability to manage project bids quickly and easily. Its seamless integration with BuildPro and SupplyPro provides instant access to Builders, Suppliers, Contractors and Trades. BidConnect offers faster turnarounds, lower costs, simple sorting and more! To learn how to make bidding and awarding projects a seamless part of your daily residential construction management, schedule a demo today.