Have you ever looked at your account books and wondered where your budget for a project went? Have you had to absorb costs on a project because you gave a client an inaccurate quote? Do you feel like you’re always on the phone with suppliers asking for quotes and delivery dates? If any of this sounds familiar, you could benefit from residential construction estimating software. Read on to learn more about these programs and how they can help your company work better. 

What Is Construction Estimation Software?

Before we dive into all the benefits construction estimation software can bring to your company, let’s talk some about what it is. Construction estimation software is designed to help you better manage your pricing estimates for your various construction process. You can use these programs at any stage of the process, from planning and quotes to final billing. There are a wide range of options in the construction estimation software world. On one end, you have simple spreadsheets and databases, while on the other end, you have fully integrated smart programs. Which you use will depend on your company’s needs and on your budget. 

Quick Cost Comparisons 

One of the biggest advantages of using construction estimation software is that you can run cost comparisons quickly and easily. When you’re looking at materials, it can be hard to keep track of the costs for everything. You need to be able to look at your budget and quickly establish whether you can afford upgraded finishes or if you need to stick with the economical options.  With construction estimation software, running these estimates is a simple matter. You can import prices you get from your suppliers or use prices the software program suggests. You can see what you’re looking at paying for everything at a glance, rather than calling six suppliers to compare prices. 

Accurate Calculations

We don’t need to tell you that there can be a lot of complex math involved in the calculations for an estimate. You have tons of variables to work with, and if you leave anything off, you could be looking at a multi-thousand-dollar deficit. More often than not, you may be forced to eat that cost if you gave your clients an incorrect estimate. Construction estimation software ensures that you never lose another dime to incorrect calculations again. You can input every expense you’ll have for the project as you plan it and track those costs as you adjust materials and quantities. At the end of the planning process, you’ll have a spot-on estimate that both you and your client can bank on. 

Information Tracking 

Have you ever looked at an estimated number and wonder how on earth you came up with it? Sometimes one of your suppliers may offer you a special deal, or you might cut a client a discount as a favor. But tracking all of those details can be hard, and you may wind up with a final account book you can’t decipher.  Construction estimation software can help you keep up with all those pesky details and notes and make sense of your accounting. You can easily make notes on estimates and prices and track why one material was used instead of another. You can even keep up with how your costs change over time so you can tweak your operation to run more efficiently. 

Cost Monitoring

On the subject of keeping up with your costs, that’s another fantastic advantage of construction estimation software. There are so many factors that impact your costs that it can be hard to keep up with all of them. You don’t want to wind up spending money on things you don’t need or using pricing that’s out of date. Construction estimation software can tell you exactly where all of your money is going for each project. You can track price changes over time, break down each project into different expense categories, and see what’s costing you the most money. This empowers you to make the best decisions for your business in any situation. 

Loss Prevention 

We mentioned incorrect calculations as a cause of company loss, but it’s certainly not the only one. How many times have you ordered flooring or lumber only to discover you already had three pallets of the same material in your warehouse? Tracking your inventory and preventing this sort of double ordering can save your company thousands. A good construction estimation program can help you track all of your materials and supplies with greater accuracy than ever. When you’re selecting materials, you can see what you already have in stock and what’s reserved for other projects. This will help you prevent losses before they ever get started and keep your company in the black. 

Time Savings 

Of course, perhaps the biggest benefit of using construction estimation software is the time savings. How much of your day is spent wrangling account ledgers, supplier quotes, and warehouse inventories? How much do you have to outsource to other employees because you have to spend time pushing a pencil at a desk? Construction estimation software can help you make your accounting process quick and simple. Many of these programs offer apps for your phone or tablet, so you can take it with you on the go. You can be out at your sites doing the work you love instead of being stuck at a desk trying to find the latest estimate you need. 

Get the Best Residential Construction Estimating Software

Residential construction estimating software can be a fantastic tool for keeping a handle on your company’s finances. You can track inventory, run quotes, and keep up with materials costs at the office or on the go. You can even get better insights into your spending so you can run your company as efficiently as possible. If you’d like to discover the benefits of residential construction estimation software for yourself, check out the rest of our site at Bolster. We can help you turn your boring, static construction estimates into a beautiful, e-commerce buying experience for your customers. Book a demo today and discover the best way to sell, estimate, and get paid.

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