Estimating Construction Costs Accurately to Improve Profit Margins

Are you experiencing estimation problems in your commercial construction company? Are you struggling with your profit margins?

Cost estimating problems

Is your commercial construction company winning project bids? If not, there are some issues you’re facing when it comes to estimating construction costs.

Let’s start with cost estimating.

Your estimators might still be using spreadsheets. If so, this old way of doing things are rife with mistakes due to miscalculations. You can’t lose money because of errors in the spreadsheets.

If you’re still resorting to old technology, or worse yet, pencil and paper, there has to be a better way for estimating construction costs. Lots of companies have fallen victim to costly spreadsheet errors.

Go digital automation

ProEst estimating software drastically reduces your estimating construction costs. It lets you focus on increasing profits without estimation inaccuracies.

Since it’s digital, it takes away those troublesome manual processes. Your markups and profits are automatically calculated. It provides competitive, accurate, detailed estimates to help you win bids. When you win bids, you improve your profit margins. You can’t go wrong!

Takeoffs not taking off

How are your takeoffs working for you? You may be facing takeoff trouble.

Without an accurate takeoff, creating accurate estimates can be next to impossible. This is especially true when there are miscalculations that cause inaccurate amounts of materials and equipment. There’s also the issue of dealing with paper blueprints. As a result, you’re dealing with manual takeoffs, and these can often take weeks or longer to complete. All of these spell a time-consuming process.

Try a digital takeoff

While you’re struggling with your latest manual takeoff, think about this: you can reduce your takeoff time by 50%. So now we’re talking takeoffs in a few days—or in some instances—hours.

You’re able to do quick takeoffs right from electronic blueprints rather than dealing with the paper ones. Another benefit is that estimating costs are automatically taken from the takeoff. As a result, estimating construction costs improve, welcoming improved profit margins. Have you taken off yet?

Data dilemmas?

Are these familiar?

You’re currently dealing with poor document management. There isn’t enough visibility and nothing is centralized. What’s more, you’re chasing down project data because it’s scattered across different platforms, devices, and users. And there’s just the sheer amount of data that leaves you wanting a cold one … or a big cup of coffee.

Integrate your data

When you enter the realm of data integration, you’re able to keep track of your data. You know exactly where it’s residing. You’re able to attain more visibility. Plus, your valuable estimate data is stored in one easily accessible database.

All of your estimates are stored in that database for quick access. You can search by estimate code, description, estimator, or the type of work. You’re able to easily retrieve the exact estimate you need in seconds.

Reporting ruckus

Are there problems with your reports?

If so, your issues probably stem from an inability to produce one in a proactive manner, and proactivity is where it’s at. Other problems come from the large amounts of data that haven’t been integrated yet and are next to impossible to use in a professional report. Along with that, you often need manual adjustments. And we know the manual problems in your estimating construction costs, takeoffs, and data integration have landed you: lower profit margins.

Remove the ruckus

When you have the right tool to get the right reports, it’s a valuable commodity, especially when you’re able to analyze historical data. When it’s time to create a report, you can include labor reports, estimate summaries for internal use, and materials for vendors. You’re able to also use the dozens of flexible standard reports or design customizable reports, depending on who they’ll be going to. And when it comes to proper reporting, these make for better decision making for owners.

Progress with ProEst

Imagine real-time, 24/7, cloud-based access to your cost estimates, digital takeoffs, data integration, and estimate reporting. This is exactly what’s available when you use ProEst’s construction estimating software. It’s cloud-based, so everyone is on the same page at all times.

ProEst’s intuitive user interface lowers your learning curve, making it quick and easy to create detailed estimates. Estimates can then be organized by phase, system, building, or any user-defined sort type to create a custom view of information.

ProEst’s database comes with a pre-built database that contains over 15,000 items and assemblies, along with a setup in CSI 48 division format. There’s also unlimited sort types like Phase and WBS.

As a commercial construction company, you can stay competitive by analyzing and adjusting your markups. The ProEst takeoff estimating software makes it easy to refine your estimate to maximize company profit. ProEst even gives you an at-a-glance snapshot of your estimate by displaying all your costs on a single screen. When you’re ready, use the built-in report writer to generate a professional-looking proposal that reinforces your company’s brand.

Get away from the manual way of doing things

It’s crucial to estimate construction costs accurately to increase your profit margins. It’s important to understand how successful cost estimating, takeoffs, data integration, and reporting work together to create improved profit margins.

If you would like to learn more about how to improve your estimating construction costs and increase your profit margins, feel free to reach out to ProEst and schedule a free 1-on-1 walkthrough with one of our specialists today!