The preconstruction phase is a crucial time that determines whether or not a project will ultimately be profitable. One way to guarantee this phase goes as smoothly as possible is to connect workflows. By integrating different teams and tasks, data flows smoothly from one system to the next, ensuring better communication and collaboration between stakeholders.
Let’s look at how two key preconstruction workflows—bidding and qualification—can work better together with the right technology.
What do today’s workflows look like?
For many companies, bidding and qualification processes are disjointed, particularly when it comes to evaluating subcontractor risk. Because risk managers are siloed from the estimating department, the information the estimators need (things like company data and information on safety and financials) often lives on a platform they don’t have easy access to.
In many cases, bids are awarded then qualified, which means estimators are making decisions without complete information. This makes it difficult to analyze and manage risk.
An integrated bid management + qualification workflow
Autodesk Construction Cloud connects risk and project teams virtually, cutting the time to qualify on average by 33 percent. The process starts in BuildingConnected Pro, where bid managers can send invitations to bid and qualify at the same. TradeTapp steps in to help risk teams automatically identify potential risks, set internal limits, and decide on a qualification status. The results of this analysis show up in BuildingConnected so the bid manager can finish the process and make a more informed decision based on notes from the risk team.
Here’s what that looks like for a bid manager or estimator.
Integrated bid management + qualification in BuildingConnected Pro
First: all of this runs through a real-time, crowdsourced network that powers the entire bidding workflow. Autodesk’s one-of-a-kind builders network includes over a million construction professionals across the United States and Canada.
When you have a project you want to start bidding out, you can sort through the thousands of subcontractor profiles in the builders network to find the right ones for your project. The list of subcontractors is curated based on the scope of work, location, and how you’ve engaged with them in the past.
Each subcontractor profile contains their contact details, key information about the business, and their qualification details on one screen.
Filters allow bid managers to narrow down their list by:
- Whether or not the subcontractor is qualified
- What their internal limits are
- Their expiration date
If qualification status doesn’t exist, the estimating team can easily trigger a new qualification invite through BuildingConnected Pro, which will notify both the subcontractor and the risk team. Subcontractors will be able to complete their prequalification questionnaire on the same platform they use to submit proposals.
At this point in the process the risk team steps in to assign a qualification status based on TradeTapp’s risk analysis. Now when bids are received, they are received alongside crucial risk details. At every stage of the bidding process the Tradetapp integration displays the following:
- Qualification Status
- Expiration Date
- Project Limit / Total Limit
Integrated bid management + qualification in TradeTapp
After the subcontractor completes their qualification questionnaire, the risk team is notified and the qualification process can start. Risk teams start by entering financial details submitted by the subcontractor—a process that Autodesk’s Professional Services team can help with.
TradeTapp systematically runs through a checklist, ensuring no avoidable risks slip through the cracks. The system…
- Calculates dozens of financial ratios, including any you provide and compares the result to others in the network
- Benchmarks each subcontractor’s liquidity, debt, profitability, and turnover against thousands of others in the network
- Automatically sets project limits based on formulas you provide
- Uses data from ERP or accounting platforms to analyze a subcontractor’s capacity
- Looks at historic safety and quality information
- And finally identifies project specific risks based on the upcoming projects details
In just a few minutes, TradeTapp is able to give you a full assessment, including financial and safety performance trends for that subcontractor. Based on this analysis and the mitigation recommendations provided by TradeTapp, risk teams can confidently assign a qualification status.
Once a status is set in TradeTapp, estimators can immediately see a summary of important qualification details. By providing additional crucial data, bid managers can make better decisions that ultimately keep projects on time and on budget.
Schedule a call to learn more about how BuildingConnected Pro and TradeTapp can streamline your estimating and bidding processes.
The post Webinar Recap: Integrated Bid Management and Qualification appeared first on Digital Builder.