Construction companies hard hit by the COVID-19 economic slowdown depend on winning contracts with sustainable and profitable pricing. Losing money is all too easy when prices fluctuate dramatically and your bids can’t keep up. Software companies are working hard to adjust their products to keep pace with market changes to give contractors an edge.
InEight, Inc., a construction project management software developer, has released an update to its project cost management solution that significantly improves the quote workflow for contractors while boosting their confidence to choose the right quotes. By providing the ability to view and edit all quotes directly in the user interface, the update allows users to quickly arrive at the best selections available while knowing how any quote group will impact the estimate.
The new features will make it easier for contractors to manage subcontractor and supplier quotes during the closing hours of a bid. By improving the user’s efficiency in entering quotes and aligning scopes, the system makes sure the selected quote minimizes risk while providing best value during bid closeout.
Contractors who rely heavily on quoted prices need help ensure that their estimates are accurate, and to minimize and mitigate the risk associated with receiving multiple pricing options at the last minute. As their quote prices are changing, they will now have better tools to manage the confusion often experienced during and just before bid closeout.
Features such as duplicating a quote to create new quotes, packaging an entire quote and editing quote values in “Quote Compare and Award” allow users to make last-minute changes to the estimate which will be reflected in real time. In addition, features have been added to provide better visibility and flexibility in aligning scopes.
Original Article: https://constructech.com/price-bid-win/