Cost estimation accuracy substantially impacts any business’s success and financial strength, especially countertop fabricators. If you quote too high, you could miss out on projects for which your competitors offered more budget-friendly bids; and if you quote too low, you could lose money on a job. Because either scenario is sure to affect your bottom line and long-term viability, it’s critical to ensure the accuracy of your estimates.
More often than not, these quoting accuracy errors are caused by misclicks, time management misunderstandings, or other mistakes people are bound to make. Having the proper techniques and automated estimation tools is essential to quoting accuracy.
Not all team members have the experience and know how to estimate project costs accurately. Designating an employee or two with a widespread knowledge of your business as a lead estimator is a great way to enhance quoting accuracy.
Even the most experienced won’t be able to estimate how long the fabrication and installation processes will take as well as the teams responsible for the tasks will. Encouraging estimators, fabricators, and install technicians to collaborate helps improve estimation accuracy and keep revenue projections and timelines on target.
Just as keeping the lines of communication between your staff is important, it’s also critical to discuss the details of the project with your client. You need to gather information about turnaround time expectations, specialty edges, off-hour installation times, or other relevant information to avoid upsetting your customer and renegotiating the proposal terms.
By providing a price range during the early bidding stages, you gather more information about the project and work with the client to iron out the details they want to be included. This approach gives you more flexibility and makes adjusting towards the upper end of the range easier because they don’t have an exact number in mind.
One way to ensure quoting accuracy is by using automated estimation tools. The software streamlines the quoting process and increases accuracy by providing an exact breakdown of material and labor costs. You can also use it to generate many quotes with relative ease quickly. Not only does it save time, but it also eliminates any potential for human error when preparing estimates for projects.
Many countertop fabricators still rely on manual processes such as recording measurements with pen and paper, calculating material and labor costs in their head, or physically writing proposals. These time-consuming practices often lead to avoidable mistakes. Utilizing drawing and estimation software enhances your overall efficiency and productivity, which helps you complete more jobs and make more sales.
Automated tools offer many solutions to improve the accuracy of future estimates and the efficiency of manual processes. Software modules such as cloud-based project management tools and mobile apps make it easy to track all project aspects from start to finish—including everything from material tracking to field and fabrication scheduling.
If your team isn’t familiar with digital solutions or estimating software, consider scheduling a free demonstration to see how cutting-edge automated tools improve estimation accuracy.
ActionFlow gives you the tools to input measurements, calculate and generate estimates with pinpoint quoting accuracy. You can even set base profit margins in the software to ensure you never submit a quote that hurts your bottom line.
Our subscription-based pricing model allows you to choose a package and a la carte add-ins that fit your budget while transforming your sales, fabrication, and installation processes. And as a client of ActionFlow, you have a dedicated account manager to offer personalized support in using the drawing, quoting, scheduling, CRM, reporting, barcoding, or payment modules.
Reach out to ActionFlow today to learn more about improving estimation accuracy or to set up your free demonstration.
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