The Cost of Using Excel vs Estimating Software
Estimating is one of the most important functions that any business executes every day. Customers want to know how much something will cost them before they pay for it, and an accurate estimating process gives them piece of mind as well as keeps your business from entering into the red. Across numerous industries, Microsoft Excel spreadsheets have been the common tool for estimating. As technology and programming have significantly advanced, businesses still operating with excel are falling behind those that have adopted to the new wave of advanced estimating software.
Excel spreadsheets can be frustrating to use, and their mistake-prone nature can damage business profits. Estimating Software will prevent common mistakes, speed up estimates, and can help keep companies out of the red. Keep reading for some specific ways that estimating software out performs classic Microsoft Excel spreadsheets.
1. Streamlined Customization
Microsoft Excel was not built specifically to be a construction estimating tool. The grid layout of Excel is the only feature that adapts well to estimating practices. For all other estimating functions, businesses have always had to rely on in-house customizations and macros to complete the estimating process.
Creating and managing Excel customizations is tedious, takes time, and requires significant expertise to do. Estimating Software is distinct in this way from Excel because it was specifically designed and built for estimating. Many of the estimating functions that a company would create are already present in the Software, and customization is much easier to accomplish.
2. Collaborative Nature
Version management is one of the most difficult aspects of estimating with Excel. Business estimates are often passed around an organization and collaborated on. There is always a worry when a spreadsheet is emailed from one person to another that some error in the formulas or calculations will get mixed in.
Sigma’s estimating templates and libraries enable businesses to build estimates in a collaborative nature. Functions like drag and dropping data prevent broken formulas and input errors and enable multiple people to work on an estimate at once.
3. Assured Accuracy
With an Excel spreadsheet, one error on row five can drastically change the resulting estimate in row 200. One small discrepancy can alter an estimate completely and cost a company thousands. The more complex a project estimate is, the more mistakes that naturally appear in Excel, and it’s not easy to find them before it’s too late.
Sigma Estimating Software prevents errors in estimates with stored formulas, collaborative data entry, error checking, and drag and drop functionality. A quick and accurate estimating solution provides businesses with the time and confidence to streamline their estimating process, increase business volume, and mitigate risks throughout the project planning process.
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