Bid Management

What is Construction Bid Management software?

Bid management  software allows to streamline the process of bidding by offering tools for managing and organizing contracts. Rather than spreading those tasks across emails, faxes and spreadsheets, bid management software gives us a set of productivity tools which help to automate the process of bid management between different parties.

There are different trends you need to understand when evaluating what Bid Management software to use:

Software adoption
Getting suppliers to adopt your new software approach to submitting bids can often be an issue, even if your internal users have adopted the software. In some cases you might need to adjust or even mandate the use of a particular system if it’s implementation is not accepted by your suppliers. A contractor’s ability to produce such a mandate will depend if they have enough leverage with their suppliers and subcontractors so it is not a given fact.

Software implementation
Bid management solutions can become your greatest asset but the software needs to be well accepted and implemented internally. Bringing in a new system without insurances that it will be adopted and failing to train contractors to using it could result in loss of contracts and profit.

Various packages
Not every bid management software is the same, some will fit a contractor better than others. There are many software reviews and guides which should be read before making any purchasing decisions, and there are many free software demos that should be tried out for a more accurate representation of how well it works and how well it fits your needs.

Key features

Here are the common features involved in construction bid management software:

Managing contracts
This feature will centralize and track the communications and contacts between contractors, suppliers and organizations.

Building custom forms
Users will be able to create custom forms which are best suited for each task

Calendar for projects
This allows to track an organization’s current projects, as well and their past and future ones.

Portal for subcontractors
Creates a portal for subcontractors so that they can see upcoming projects, as well as varied information about those projects.

Templates for communications
This feature lets organizations to create custom templates for emails and all other forms of communication between an organization and its suppliers as well as its contractors.

Why Use Construction Bid Management software

There are many benefits to purchasing and using construction bid management software:

  • The bid procurement process becomes more effective, leading to substantially lower costs. Having the ability to create more bids in a more professional and competitive process lowers the costs of materials and also the costs of subcontractors.
  • Automating the bidding process can result in a reduction in printing costs and labor, leading in turns to a considerable reduction in errors. Not only is time saved but also the time usually taken to address those errors, which improves efficiency all around.
  • The process of procurement becomes much more effective, with better estimates and better data. Suppliers can be made accountable to their bids since the process creates much better visibility into the costs of the project.

Your use of bid management software will vary depending on your needs and the needs of your business:

  • If you are a project manager it makes sense to use the bidding modules within the firm’s system; saving you from having to implement a bidding system of your own. It will allow to easily select subcontractors and suppliers within the firm’s guidelines
  • Having to focus on cost control and efficiency, a procurement buyer requires a system with extended functionality in order to facilitate the procurement process.
  • A general estimator will mainly focus on getting high level pricing from subcontractors. Using the tracking and management functionality will help comparing those bids.
  • The procurement modules available in an enterprise resource planning system will greatly help integrated suite buyers who need integration of processes and data across the firm.

The software can automate repetitive tasks and utilize multiple data sources, including past estimates, standardized libraries, historical costs, performance data, and integrated RSMeans. Users can build, review, and edit estimates quickly, and automatically run price calculations to identify errors and reduce last-minute issues.

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