BEST TOP 6 ESTIMATING SOFTWARE FOR 2023 (REVIEWED AND RANKED)

Features & Functionality

The capabilities that help users estimate, take off, and bid better are what give estimating software its potency. Not all users require feature-rich software; instead, they merely desire a solution to a few particular problems. Knowing which features won’t be as important to your company and which you don’t need will help you focus your search and possibly reduce the cost of the product. The most crucial characteristics that contractors should take into account when comparing estimating software providers are covered in this section. When particular features are crucial, customers should enquire about the specifics from company representatives because different software companies will package and design these functions differently.

Digital Take-off Features

The take-off, estimating, and bidding phases of the bidding process were described in depth above. Here, we discuss some of the features that software can provide to help contractors and subcontractors with the take-off process. Often, digital take-off capabilities are sold in separate software packages from the estimating tools because they are advanced capabilities that not everybody needs. As a result, these features may potentially significantly raise the price of the software. All of these aspects aim to increase the effectiveness of digital take-off:

The main technology of take-off tools is the use of digital project blueprint copies to extract the material, quantity, and part requirements in a list. If the device enables take-off at all, this feature will undoubtedly be present.

A key advantage of cloud-based take-off systems is their collaborative take-off feature. Users should be able to share notes and even take off from the same set of plans simultaneously using cloud-based tools and any tools with collaborative functionality.

RFI creation – An RFI is used when a contractor has concerns about the plans or finds an inaccuracy. These problems need to be fixed in order to obtain an accurate estimate. Using certain features, users can create an RFI within the platform without disrupting their current process.

Assemblies – The ability to save assemblies within the take-off tool can be a significant time benefit for contractors that routinely construct the same assembly of parts in multiple projects. Users must repeatedly remove each appearance assembly from prints one part at a time if they don’t have stored assemblies. Some products enable customers to keep assemblies for use in any software-reviewed plan they review..

Construction Estimating Features

After take-off, the next phase is to use the data to estimate the costs of the project’s materials, supplies, and labour. The characteristics that assist builders and subcontractors in creating project estimates more quickly are briefly covered in the list below:

One essential component of estimating software is pre-built estimate templates. Almost all estimating tools will have a template for displaying expense estimates. Multiple templates will be included with more potent tools.

Database of supplier prices – Some software providers offer a current database of prices for supplies and materials from regional distributors, which can be used in conjunction with quantity projections to quickly or even automatically compute costs. This feature saves a ton of time and is typically cost-effective given the amount of time it saves. ConEst, ProEst, and Vision InfoSoft are just a few of the well-known estimating software providers that interface with the ElectricSmarts NetPricer supplier price database, which is an industry standard.

Integration of take-off software – If your company utilizes take-off software, it is preferred, if not essential, that your estimating solution links directly to it or is able to quickly extract data from it. If not, your staff might be forced to manually enter the data that your take-off solution helped to generate. Take-off data can frequently flow immediately into estimates without any user input if you purchase a take-off package from the same provider.

Details about the item or assembly – Many estimating programs allow users to save particular data about typical project assemblies or components. The data may include the price and amount of the materials as well as the time and labour expenditures incurred. For instance, depending on the size of the wall, a home interior wall needs a predictable amount of wood, drywall, nails, and other materials. Since this information is saved as an assembly, it won’t be necessary to account for every nail whenever this assembly is referred to. The software frequently includes a variety of pre-built assemblies., but this information is usually customizable for users to match their own needs.

Multi-item update – Prices, materials, and suppliers are frequently subject to change, necessitating adjustments throughout the estimate at various points. Fortunately, some estimating software allows you to swiftly apply the same update to multiple locations in the estimate documents at once.

Formulas – The majority of goods come with a predetermined set of calculations for things like area, volume, and curved distances. Many will also permit the user to modify or include unique formulas.

Construction Bidding Features

When an estimate is finished, it’s time to draft a bid or proposal, which should at the very least include cost estimates and a predicted completion date. Software developers have included capabilities to help handle the complexities of construction bidding because putting together and submitting a bid is a different procedure from estimating. The most popular capabilities offered by software developers to enhance the bid management process are listed below.

A bid management or bidding tool will typically assist the contractor by offering templates or automatically creating offers depending on the data and information given to the application. This can help contractors create attractive proposals quickly and efficiently.

Subcontractor portal – A subcontractor portal offers a simple way for a contractor to accept bids from subcontractors and exchange bid papers and important project information with them.

Comparison of bids: When subcontractors submit their bids through the subcontractor portal, the contractor can analyse those bids on the platform and compare them more effectively, highlighting the advantages and disadvantages of each offer with the use of various comparison tools.

Calendar and scheduling for projects – By offering a central location for contractors and subcontractors to arrange the individual steps that will make up the project, bidding systems typically make project scheduling considerably simpler. A scheduling tool and calendar can significantly improve scheduling efficiency because scheduling with several subcontractors can be messy, if not a nightmare.

Contact management – Contractors that submit numerous bids to various owners and deal with numerous suppliers may find a contact management system built into their bidding software to be particularly useful. Some bidding suites provide contact management features that are sophisticated enough to function as a small- to medium-sized contractor’s CRM (customer relationship management) system.

What-if analysis – Following the submission of a bid, contractors frequently get requests to alter costs, materials, or other aspects of their offer. Software for bidding frequently offers capabilities for quickly updating bids and monitoring previous modifications.

Cost estimating software will be used in the construction industry by engineers, architects, and construction managers for overall bid management as well as on any occasion where a cost estimate is required. Construction estimating software offers payment monitoring, report generation, and building timelines in addition to task cost estimation.

There are also possibilities for more sophisticated software, like building information modelling (BIM software). This kind of technology produces 3D models that are used to plan, design, build, and manage infrastructure or structures.

Cost tracking for labour

Quantification of employee hours and rate management for each job

Costing of the materials

the input of quantity needs and the computation of material costs using defined material base rate costs

Estimation for subcontractors

Calculation of expenses that will likely be required for paying subcontractors to carry out job duties

estimate of equipment costs the ability to calculate the costs of purchasing or renting the equipment needed to finish a job

Electronic takeoff

By using digital take-off, it is possible to extract dimensions information from blueprints and turn it into a list of the materials that are needed, along with their pricing.

Document management estimate

Job estimates can be stored and retrieved using document management tools.

Conversion of an estimate to a quote

The ability to transform job cost estimates into quote or proposal documentation that customers can see.

The past estimation

Using inputs from previously completed work, estimation can be used to determine the expected expenses of job tasks.

Estimation for subcontractors

Calculation of expenses that will likely be required for paying subcontractors to carry out job duties

Benefits of Construction Estimating Software

Why should your company utilize software for construction estimating? What advantages does estimating software offer your company? Top among them are the following:

Improved Job Cost Forecasting and Bidding

The time, money, materials, and labour needed to construct a physical structure are estimated using job cost estimating tools that gather and analyse pricing information. Failure to do so could result in project failure and financial losses due to cost overruns.

Software for construction estimating offers standardized procedures to create cost models for carrying out job-based activities. Although it is most frequently used in the construction sector, it can also be used to other sectors that carry out work on a project basis and need to estimate potential costs of completion.

Benefits of construction estimating software for bids and job costs include:

• Decreased labour costs since less time was spent creating job estimates
• Increased ability to produce more accurate estimates using automated calculations and performance data, ensuring project profitability.
• Higher bid win rates through quicker delivery of bids to clients
• Reduced task costs by identifying cost-control measures such strategic subcontracting, more careful job selection, and alternate material/service sourcing

Create Digital Take-offs

Functions that enable users to derive material counts and estimates from digital designs are referred to as construction take-off. This feature, also known as digital take-offs, can scan file types for blueprints like SVG, DXF, DWG, and PDFs, converting them into editable digital files. Then, information that aids in calculating amounts and measures can be retrieved from the digital blueprints.

You may quickly determine the scale of the job using blueprints and an effective estimate application. After determining the scope, you can reverse engineer the project to a parts list and more accurately produce data-driven price estimates. In terms of labour costs, the same procedure is used. As you break a job into smaller sub-components, you’re able to more accurately project costs.

Typical components of a construction take-off include:

• Lumber
• Concrete
• Roofing
• Blocks
• Pipes
• Wire
• Fixtures
• Flooring

You must either perform a straightforward count, provide precise length requirements, or use area for components that are supplied in volume to determine how an item is quantified (such as concrete). These intricate equations will be solved using digital take-off technology to yield the precise quantity required

Build hypothetical scenarios

What-if scenarios are hypotheses regarding potential approaches to a given task or project. When it comes to calculating the cost of a construction project, it might be helpful to better prepare you for both the best-case and worst-case situation. Project managers ought to be able to more accurately forecast how a planned construction project will turn out by going over each stage of the project lifecycle.

What-if scenario analysis can help your organization make better decisions and take more effective action by analysing potential outcomes and improving project management. Reducing uncertainty or better preparing your firm to respond to various events is the aim of accomplishing this. Your company should have a better understanding of the simple and complicated elements to anticipate with your next projects thanks to increased project predictability.

For instance, there might be a situation in which a construction company submits a bid for building a road. Although they have the road’s specs, they could want to offer the buyer a selection of materials. The costs of two various scenarios, including labour and materials costs as well as maintenance over the course of the project’s life, can be created with the aid of a flexible construction estimating application.

Another example involves remodelling a kitchen. Being able to rapidly replace cabinets, worktops, appliances, etc. without having to start over provides for quick and flexible response to changing client expectations…

Making Accurate Estimates Using Historical Cost Data

Maintaining records of your previous pricing information will help you prepare new estimates for similar projects faster. If the price of goods and labor doesn’t vary too much, these previous estimations can anticipate the cost of your project with reasonable accuracy.

For comparative cost analysis, cost estimators can use frequently available building cost data. This comprises periodicals, commercial cost reference manuals, vendor data databases, and digests of real project costs. As an alternative, your company can use its own prior efforts to make projections. When working for the same client or performing repetitive building tasks of the same nature, this is useful.

A computerized database of prior estimates and bids will be included in the construction estimating program. The most basic solutions will include a historical database that you can use to reference information about quantities, costs, personnel and machine productivity from prior projects. As you proceed through the project stages, a more sophisticated alternative can provide capabilities like Earned Value Analysis (EVA), which can measure a project’s progress at any given time and more accurately predict the total cost.

Analyse projected job costs in detail

Using process costing or job costing, projects in both manufacturing and construction can be priced. Based on previous data, process costing will allocate expenses to each phase of a manufacturing project. The specific labour, material, equipment, and subcontractor expenditures required and their calculated prices are broken down in job costing.

While job costing tends to be more accurate since it uses more historical data and less guesswork, process costing performs best in industries with more consistent expenses. Job costing is more common in the area of construction estimates because of this.

Time can be saved by using dedicated work cost software instead of manual methods like spreadsheets for task cost calculations. The majority of estimating software will also integrate with task costing procedures and support your company’s efforts to price jobs more precisely, deliver estimates on schedule, determine reasonable profit margins, and monitor expenses in real time.

A competent estimating application will provide you with an analytical framework to comprehend your costs in many job-related contexts. Estimates and costs can be broken down by sub-projects, geographical locations, or other organizing units to provide a plethora of information for determining which task components are responsible for the total profit or loss on the project.

You might need to segment costs in order to track the subsequent revenues in order to determine payback. For instance, setting up pricing based on an understanding of what is necessary for per unit cost recovery is often crucial if you are a builder trying to lease your own space. This would necessitate tracking the whole project cost, either by building or by unit.

Construction Estimate Template Types

The best construction estimating software can assist in producing any kind of estimate that your company requires. The information about your business and your clients will automatically fill out the majority of the templates. Depending on the type of job you’re conducting, such as cost estimating for new homes, general construction estimating, remodelling estimating, and more, these templates will typically change..

What factors decide the details that are included in the estimate? The use of one of the four primary types of construction estimates will typically depend on where the project is in its lifecycle.

Preliminary Estimate: Unreliable projections of a project’s costs that are not final. usually carried out at the beginning of a project with little information and on the basis of previous initiatives.

A refined version of the preliminary estimate, the detailed estimate is the first formal estimate that is produced. includes additional information such as quantity, price, and rate. may also contain blueprints and further specifications.

Quantity Estimate: Contains a list of the amounts required for each material to finish a project. This is calculated by dividing the project drawing dimensions by the hourly rate.

Bid Estimate: The final offer made to a potential customer. usually constructed using a combination of figures from previous estimates and offering the highest price in order to win the bid.

Which Software For Construction Estimating Is Best For Your Business?

Estimating is a daily task for electricians, plumbers, many manufacturers, builders, and HVAC providers. The estimating process’s components, however, can vary depending on the situation. The learning curve for your company’s estimating software users can be slashed with a program created with consideration for your industry.

Industry-specific estimating software examples include:

Software for earthworks estimation helps engineers predict expenses for earthwork projects like surveying, landscaping, and excavation.

Electrical Estimating Software: Aids electrical engineers, contractors, and electricians in budgeting costs associated with expediting electrical work projects.

Software for flooring estimation helps floorers estimate expenses for both home and commercial flooring projects. includes tile visualizations and floor plan database tools.

Manufacturing Software for quoting and estimating: Produces estimates depending on the price of materials, labour, and overhead.

Determine the expenses for pipe replacement, repairs, or part upgrades for plumbing projects using plumbing estimation software.

Determine the price of residential projects with remodelling cost estimation software.

Software for bidding versus take-off versus construction estimating

The bidding, estimating, and take-off processes are all intricately linked and interdependent, as we discussed previously. Remember that take-off is performed by contractors and subcontractors using project designs and bid documents, and that data is then used to provide construction cost estimates. The project bids or work proposals that result from these estimations are subsequently created.

However, it’s also typical for software programs to include take-off, estimating, bidding, or any combination of the three, all on one platform. Many products marketed as “Estimating Software” concentrate exclusively on estimating. However, these goods are typically standalone tools that are provided by several businesses. Because some businesses market “Estimating Software” and others “Construction Bidding Software,” with product descriptions that seem to answer the same goals, buyers can easily become perplexed.

We’ll outline the most typical phrases estimating software suppliers use to brand themselves and the typical characteristics these terms typically imply in order to make it clearer what software developers typically mean when they use these terms. Software vendors typically use the following phrases to identify themselves:

The production of project bids and proposals, scheduling of subcontractors and projects, client management, and bid analysis and reporting are the typical foci of construction bidding software.

Take-off software truly specialized in extracting data from electronic designs and spec sheets, and uses this data to provide cost estimates.

Tools for estimating: assist estimators (often contractors and subcontractors) in developing detailed cost and quantity estimates for suppliers and materials. These tools typically consist of regional part/material cost databases, preloaded algorithms and calculations, and cost summary templates. A product that includes all parts of bidding, take-off, and estimating is also referred to as estimating software.

Although it sounds quite similar to construction bidding software, bid management software actually refers to a set of tools that contractors can use to manage the bids from their subcontractors. Although the goal of bidding software is to help contractors create their bid proposals, that is not the main focus of these tools.

Tools for estimating: aid estimators in creating precise cost and quantity estimates for suppliers and supplies. Estimators are frequently contractors and subcontractors. These tools often include cost databases for local parts and materials, preloaded algorithms and calculations, and templates for cost summaries. Estimating software is another name for a solution that combines all aspects of bidding, take-off, and estimation.

The term “bid management software” actually refers to a set of tools that contractors can use to handle the bids from their subcontractors, despite the fact that it sounds somewhat similar to “construction bidding software.” Although aiding contractors in the creation of their bid proposals is one of their goals, it is not where the main attention of these tools lies.

The main technology of take-off tools is the use of digital project blueprint copies to extract the material, quantity, and part requirements in a list. If the device enables take-off at all, this feature will undoubtedly be present.

A key advantage of cloud-based take-off systems is their collaborative take-off feature. Users should be able to share notes and even take off from the same set of plans simultaneously using cloud-based tools and any tools with collaborative functionality.

RFI creation – An RFI is used when a contractor has concerns about the plans or finds an inaccuracy. These problems need to be fixed in order to obtain an accurate estimate. Using certain features, users can create an RFI within the platform without disrupting their current process.

Assemblies – The ability to save assemblies within the take-off tool can be a significant time benefit for contractors that routinely construct the same assembly of parts in multiple projects. Users must repeatedly remove each appearance assembly from prints one part at a time if they don’t have stored assemblies. A few tools enable users to save assemblies for use in any software-reviewed plan they review.