For most construction companies, estimating and takeoff software is a significant investment that requires careful consideration before implementing. And in companies used to relying on spreadsheets and traditional methods to estimate bids, it may feel like an uphill battle to convince the boss that automating estimating tasks is a smart move.
Calculating software’s potential return on investment (ROI) is one tactic that’s very effective for getting buy-in for a purchase, because it:
1. Shows that you’ve thought critically about the need for software;
2. Speaks to what business owners care about—the bottom line; and
3. Proves that the investment will benefit the business.
It’s valuable to look not only at how quickly the company will gain back the initial investment in terms of cost-savings, but also at the number of man-hours the estimating team will save. When software reduces the number of hours spent estimating a project, it frees up time to bid and win more projects—which can multiply revenue many times over.
With that in mind, here is a calculator to approximate the number of hours your business can save each year by using estimating and takeoff software, as well as how long it will take to recoup the investment.
Instructions: click on the gray boxes to enter data. Results will appear below.
ROI Calculator for Estimating and Takeoff Software