Case Study: Bid Tools Aren’t Only for Large Projects
Many retailers and construction management firms competitively bid projects over a certain threshold; for example, some only use TotalBid for projects over $250,000. Interestingly, the bid process is the essentially the same for projects regardless of size. Further, when projects are bid using different systems and processes, then audit reporting and historical analyses become extremely difficult.
Solution: Two important things were accomplished to provide a truly scalable solution: (1) analyze historical project data to understand trends in bid management technology adoption, and (2) offer a low cost best-in-class bid system that can be used for all project sizes.
What unique approach solved the critical issue?
CPBID Technologies’ market research staff conducted a detailed analysis of all projects bid over the last 7 years to better understand market trends and project types as they relate to the adoption of bid management technology. CPBID also created a scaled down version of their flagship product, to include key functionality that ensures greater efficiency but also measurable cost reduction on every project.
Results: The ratio of large-to-small projects has completely inverted over the last 7 years; now small projects are the majority addressed by TotalBid. Moreover, these projects are now characterized by small and medium sized projects to support remodel, re-image, infill, administrative, office, and facilities maintenance efforts.
What was the outcome and results of our services from our clients’ point of view?
The value proposition of TotalBid can be extended to very small projects and to large projects, alike. The standardizing and streamlining affect is scalable, as are the benefits of cost avoidance and cost reduction.
Value-add: Gain visibility to bid team and contractors, collaborate with stakeholders, experience immediate bid results & line item analysis, low cost, pay per use, best-in-class bid system.
What quantitative metrics, additional services or cost savings did we provide?
Compared to the conventional bidding process, TotalBid reduces bid administration time by 75% and reduces construction spend by 5%.
“The TotalBid system ensures that, among many other benefits our firm and our clients have complete transparency and quick access to everyone involved in the bidding process…We report measurable overall cost savings and cost avoidance due to more detailed analysis and bid leveling functionality…TotalBid has given our bid team efficiencies and control never before possible.” – Shawn Lawler, Jones Lang LaSalle Project Development Services.
