Understanding risk-adjusted cost
Cost Estimating
Cost estimating is crucial in project pricing, adeptly balancing competitiveness and profitability. By incorporating risk assessments and confidence scoring, businesses can calculate risk-adjusted costs, facilitating informed statements like, "With 80% confidence, we can deliver this project for less than $1.2M." Comprehending risk-adjusted costs also impacts risk mitigation strategies and contract terms, enabling companies to determine the most suitable approach, such as time and materials (T&M) or fixed-price agreements, ultimately enhancing project success and customer satisfaction.
Improve Efficiency with Workflow
To adhere to RFP deadlines, implementing workflows streamlines the process of swiftly obtaining estimating inputs and approvals from various departments, ensuring efficiency and timely responses.
Leverage your Data with powerful Data Science
To adhere to RFP deadlines, implementing workflows streamlines the process of swiftly obtaining estimating inputs and approvals from various departments, ensuring efficiency and timely responses.
Easy-to-Use Tool for Users to Estimate and Plan
Having full transparency between customer requirements to estimating sources, including written justifications supporting government cost-plus bids
Compliant Bids with Basis of Estimates
Having full transparency between customer requirements to estimating sources, including written justifications supporting government cost-plus bids
Quantify Uncertainty with Risk-Adjusted Cost
Combine engineering inputs, PLM and ERP data to create proposal-specific BOMs, service BOMs and indented configurations
Use Top-Down Planning to Ensure Competitive Bid
Comparing Design-to-Cost targets with bottom-up estimates rapidly highlights areas for discussion and help align sales and delivery expectations
Building your Cost Model
Material Cost Estimating
Similar-to your full history of buying parts from vendors in order to more accurately
Labor Cost Estimating
With every project you deliver, meticulously capture time-clock and time-card data to establish a robust knowledge base of prior performance history. Continuously enrich and reuse this invaluable information to inform future estimates for similar work, enhancing accuracy and consistency across projects. This systematic approach not only helps refine your estimating processes but also empowers your team to make well-informed decisions, ultimately driving increased efficiency, productivity, and success within your organization.
Indirect Cost
Connecting people around a single source of truth and incorporating workflow processes are crucial when scoping and estimating a project. This approach ensures that all team members access consistent, accurate information, fostering collaboration and reducing misunderstandings. Streamlined workflows guide the team through each phase, maintaining accountability, and promoting efficient communication. Ultimately, this unified method supports informed decision-making, optimizes resource allocation, and increases the likelihood of project success.
Top Down Planning to Set Yourself Up For Success
Adopting a top-down planning approach that incorporates "Price to Win" and "Design to Cost" strategies is vital when scoping and estimating a project. This method aligns the project's objectives with budget constraints and client expectations, ensuring competitiveness in the market. By focusing on these strategies, teams can identify cost-saving opportunities and make informed decisions, ultimately delivering a high-quality project that meets or exceeds the client's requirements while staying within budgetary constraints.
Designed on SAP HANA for Organizations Running SAP
Our solution takes full advantage of SAP's robust HANA database. It is natively integrated with SAP to reuse master data already maintained in SAP, such as resource pools, BOMs, items, routings, vendors, etc. At the same time, we leverage and reference your rich transaction histories sitting in SAP, such as quotes, contracts, purchase orders, and production orders, to anchor estimates in reality.
Even long-time SAP customers still have non-SAP data sources critical for the bid & proposal process, such as DOORS, Primavera, and Salesforce. Don't worry; we've got you covered.
We have added flexibility to fit your specific landscape and security requirements regarding deployment. The solution is architected to allow for several deployment scenarios, such as directly in your S/4 HANA instance, in an on-premise HANA sidecar, or the cloud, all the time being ITAR compliant.
Ready to see a demo or speak to an expert to learn more?
Complete the form to schedule a time to speak with our team. We will customize a demo to your specific needs and interests. We look forward to helping you win more profitable bids.