Cost Estimation System Development
What Client Says ?
John Doe
” Dextersol’s cost estimation system has greatly improved the way we work. The efficiency of the tool has not only improved our results and ability to obtain more projects but also saved money on this. I highly appreciate their work and say that their skills and help during the performing of the project were benefited highly! “
Services Provided
Cost Estimation System Development
Project Overview
Dextersol complied with a foremost construction and engineering firm to build a sound cost estimation procedure. The objective was to optimize the flow of preparing accurate project cost assessments and eliminate or at least reduce many instances of manual contribution to mistakes present in such processes. The client required an application that would work as an easy-to-use dashboard for the project, utilizing several parameters that include material costs, manpower, tools and overhead costs with large-scale construction works.
Key Features of the Project
Dynamic Cost Calculation
We developed a dynamic module capable of calculating costs based on:
✦ Variable material pricing.
✦ Regional labor rates.
✦ Cost relating to the use of equipment for rental or outright purchase.
✦ Organ-specific Contingencies and Overheads.
These features enable the client to derive accurate optimization information on the cost partition level of any project.
Customizable Templates
Some of the components are templates for typical forms of projects, which can also be modified if necessary. This cuts on the time needed before the actual practice and improvements the ease of use by both the new and old hands at practicing.
Interaction with Existing Tools
To ensure seamless adoption, the cost estimation tool integrates with:
✦ ERP systems for real time material inventory updates.
✦ Software used in recording and presenting organizational financial transactions.
✦ Multitasking management applications for coordinated processes.
Intuitive User Interface
When we established the various flow charts, our team developed a layout that allows for maneuverability while not taking away from the utilization of all the features. They include a toolbar with the option to drag and drop the input fields, a Windows option that provides auto-fill suggestions, and an option that checks various inputs to ensure the correctness of the input data.
Challenges & Solutions
Challenges
Estimating costs accurately involved multiple variables such as labor, materials, equipment, and overheads. Coordinating between a rising raw material price and falling production levels. The system needed to support projects of different sizes and allow for customization based on project types.
Coordinating work and cooperation between the departments. The system needed to integrate with existing project management and accounting tools. Fluctuations in material costs and labor rates added complexity.
Solutions
A tailored cost estimation system was developed using modern software development frameworks. We also update the cost estimates in line with the current market prices through the transfer of updated data from the external databases in real time. We Engage stakeholders (project managers, accountants, and site engineers) to identify core functionalities and workflows.
Dextersol’s designers designed API integrations with ERP systems and accounting software. Being a multi-user system, it enables the simultaneous working of different teams who are working on cost estimations to attain real-time work on a common project without having to compromise on data security as it can be set to work under the security privilege of individual access.
Results
40%
Reduced estimation time
25%
Improved cost estimate accuracy
95%
User-friendly interface
Time Savings
Reduced estimation time by 40%, enabling quicker bid submissions.
Accuracy Boost
Improved cost estimate accuracy by 25%, minimizing project budget overruns.
Scalability
Supported projects ranging from small residential buildings to large commercial complexes.
User Adoption
The user-friendly interface led to a 95% adoption rate among employees.
Enhanced Efficiency
Streamlined collaboration across departments, resulting in better project planning and execution.
