In industries like water treatment, oil & gas, and chemical processing, the stakes are high. Projects often involve intricate designs, high safety standards, and strict regulatory compliance. Managing the entire lifecycle of an engineering project-from initial design through commissioning-can be overwhelming without the right tools in place
The construction industry demands precise and fastresponses to requests for quotes (RFQs). However,most companies rely on traditional ERP systems tohandle this critical task, often leading to inefficienciesand missed opportunities. ERP systems, thoughessential for backend operations, fall short inmanaging the dynamic and intricate needs ofConfigure, Price, Quote (CPQ) processes.
In today's rapidly demanding EPC landscape, the costing accuracy on the proposals is more crucial than ever. However, most EPC companies are still using outdated manual processes or limited ERP functionalities for making the costing estimation during tender or bidding stage. This leads to overestimation which results in lost opportunities, or underestimation, which results in lost margins. If this sounds familiar, it's time to explore how a CPQ (Configure, Price, Quote) application can revolutionize your estimation process in 2025.
Did you know that inefficiencies in estimation are among the top reasons for cost overruns and project delays in the construction industry? According to a Mc Kinsey: re12ort, the construction sector loses a staggering $7.6 trillion annually due to poor productivity, with inaccurate estimations being a significant contributor. It's time to address the pain points of traditional estimation processes and embrace a solution that works.
The construction industry is undergoing a digital revolution, but estimation processes olten lag behind, costing companies time, money, and opportunities. With increasing project complexity and competition, relying on outdated estimation methods is no longer sustainable. This newsletter explores the top trends reshaping construction estimation, the challenges companies face, and how a CPQ (Configure, Price, Quote) application can help your business stay ahead of the curve.
Estimating costs for complex Construction projects can feel like navigating a maze. The process is fraught with inefficiencies, delays, and errors that can bleed resources and impact project profitability. If you're struggling with cost overruns and missed deadlines, you're not alone. Here are the 5 most common challenges in EPC estimation and how your team can overcome them.
The construction and EPC industry is standing at a crossroads. As the demands for precision, efficiency, and speed intensify, traditional methods of estimation and project management are proving inadequate. The costs of outdated processes are mounting, and the industry can no longer afford to ignore the transformative power of digital engineering.
