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Top 10 Material and Cost Estimation Companies - 2019

In today's consumer-driven market, it is critical for all the OEMs and their suppliers to cut material cost and cycle time to maintain their competitiveness. An accurate cost estimate is crucial for determining a project’s eventual scope and ensures that organizations remain financially feasible and avoid cost overruns. That being said, the industry sector and type of project, regardless of the size and scope have a bearing on how stakeholders develop estimates.

Material companies across several industries are faced with significant challenges with regards to pricing their product while ensuring they reach profit targets. The use of analogous estimating techniques is not reliable if the organization lacks experience in conducting similar projects. Also, it is important that cost estimating practices that are revised with more up-to-date information. For long-term projects that take several years to complete, it vital to take currency value fluctuation and political climates into account while creating accurate estimates. Difficulty also arises when estimating costs of human resources as most estimating techniques revolve around the concept of unit-based costing, but the complexities of managing people make it difficult both to obtain accurate unit costs and to forecast the task completion time accurately.

The use of emerging technologies and state of the art software has increased productivity and sped up processes in the construction sector in the past decade with the disruption of the construction industry. Traditionally, cost estimates are developed using spreadsheets and formulas. However, in recent years, the advancement of software for cost estimating includes programs designed for specific customer-defined fields. Estimation software often integrates with other project management applications by updating cost estimates as the scope or key factors keep changing. By leveraging A.I and data analytics, solution providers are offering work management and automation platforms that enables enterprises and teams to work more cost-efficiently. With familiar spreadsheet interfaces and robust project management features, stakeholders can now create and manage cost estimates and project plans all in one sheet. Personalized dashboards and self-service reports will improve visibility into the status of cost estimates and help compare estimated and actual labor, materials, and other costs. Also, sharing and publication capabilities will foster collaboration amongst internal and external stakeholders in real-time.

Effective cost management is expected to yield a positive return on investment (ROI). Therefore, to provide accurate guidance to organizational leaders in taking decisions involving considerable value with the aim of reduction in cost is very important to be achieved in every cost estimation exercise. To help organizations select the best vendors and advance their initiatives, a distinguished panel comprising of prominent CEOs, CIOs, VCs, and industry analysts, along Construction Tech Review Magazine’s editorial board has assessed and shortlisted Material and Cost Estimation solution providers that are at the forefront of providing cutting-edge technology solutions. We present to you “Top 10 Material and Cost Estimation Solution Providers -  2019”.

    Top Material and Cost Estimation Companies

  • Gordian is the pioneer of facility and construction cost data, software, and expertise for every phase of the building lifecycle. Gordian’s innovative solutions enable customers to build and maintain the essential facilities and infrastructure our communities rely on. The company produces accurate estimates that align with company vision, both present and future. In its calculations, the company empowers unit cost lines with the changing costs of material, labor and equipment required for the project estimation. Gordian’s data engineering and research team works hand-in-hand with the analytics and quality assurance division to monitor customer inquiries and respond to specific situations and enhance the data provided to meet client needs as they evolve

  • Sage is a management software company that develops and markets accounting software for small & medium businesses. Sage was founded in 1981 and is headquartered in England, UK. Sage provides every sized organizations with a range of easy-to-use, online and cloud business management software and services - from accounting and payroll, to enterprise resource planning, customer relationship management and payments. Its customers receive continuous advice and support through its global network of local experts to help them solve their business problems, giving them the confidence to achieve their business ambitions

  • Buildup


    Buildup is an easy to use task management and punches list software that improves product quality and reduces costs in less amount of time. It is a mobile and web-based app that caters to the communication between project managers, contractors, and other construction people involved in the project. Buildup is an all-inclusive solution developed not only for the developers and general contractors but also for subcontractors. The two leading software’s produced by the company is task management that ensures systematic and smooth flow of work and punch list that caters to the construction teams management issues for the entire duration and not just the closed out period

  • Clearestimates


    Clear Estimates is a web-based software tool for remodeling contractors that makes estimating costs and writing proposals for construction project fast, accurate, and pain-free. The company began as a father-son team in 2004 and has grown since, to become the industry standard in the residential remodeling industry with thousands of active users across the globe. For over ten years, they have helped thousands of contractors to simplify their estimating process. They know customers would rather be out in the field than behind a keyboard, so they have made the services easy to use

  • ConstructConnect


    ConstructConnect, a construction information and technology company, provides a better and more natural approach to construction. The company offers robust project information, and combines the construction industry in one place and positively evaluates, chooses, and prepares projects before building it. The company provides various solutions for manufacturers, general contractors, subcontractors, project owners, takeoff and estimating, and architects and engineers. The company has developed different software like, ConstructConnect takeoff that seamlessly integrates digital takeoff in preconstruction workflow, On Center Software to increase speed and accuracy while reducing work, plan swift, intuitive digital software, and takeoff software, designed predominantly for contractors doing piping, ductwork, and HVAC

  • Estimate Edge

    Estimate Edge

    EstimatingEdge is a construction management software that the professionals on-field prefer, and is built correctly to their needs and specifications, giving the builders a competitive edge in the industry. The team of EstimatingEdge comprises of experienced tradesmen who have created the most practical all-in-one solution, customizable to the estimates of the company. The company is proud of the attention to detail the software provides, with accuracy down to the last nail. With more than three decades spent on perfecting the software, it assists contractors of all sizes to estimate more efficiently and become more profitable

  • Ineight


    Paving the way for an enriched construction estimation and scheduling, InEight has focused on removing the project pain points with its project management software. The solutions cover everything from design to estimate and from field execution to turnover providing real-time information and insights necessary to minimize risks and maximize operational efficiency along with controlling of project costs, execute educated decisions, and collaborate seamlessly with all the stakeholders. The PMS by InEight is flexible and scalable, easy to modify and customize accordingly on a desired time scale and budget. The company is welcoming a new era of construction

  • Pantera Global Technology

    Pantera Global Technology

    Pantera Global Technology is an organization focused on providing innovative SAAS solutions for the construction industry, including powerful program, project, and bid management systems for all phases of the building cycle. Pantera has two primary considerations when crafting our technology: Power and Simplicity. Powerful enough behind the scenes to drive the most intelligent project management system in the industry, yet simple adequately on the front-end to provide an intuitive user interface that anybody can utilize. The services include best-in-class programs and project management systems that deliver intelligent scheduling and advanced resource allocation

  • Raken


    Raken is an epitome of innovation and revolution in the construction industry. Being from the domain since the longest of time, Raken has bred and attracted passionate people to a worthy cause. With its’ unique construction application, streamlining the traditional workflows is immensely easy. Critical features like daily reporting, time cards, and data insights are available in a digital toolbox, which Raken offers. It is equipped with all the essentials data collected from the field, so those insights can be leveraged to grow and prosper

  • SmartSheet


    Smartsheet is a cloud-based work execution platform that empowers collaboration, drives better decision making, and accelerates innovation for over 80,000 brands in 190 countries, including more than 75 percent of the Fortune 500. Smartsheet complements existing enterprise investments by deeply integrating with applications from Microsoft, Google, Salesforce, Jira, Slack, and many others. The programs bring employees from every region together to work in support of local organizations that address causes such as hunger, kids in need, and polluted waterways. They focus on harnessing their collective passion and resources to support objects that reflect in the company purpose of empowering others

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