Product category:
Estimating Software
News Release from: HBXL | Subject: HBXL survey
Edited by the Buildingtalk Editorial
Team on 06 June 2008
Survey reveals builders confidence is
down
HBXL survey reveals over 50% of builders are saying their confidence in the market is worse in comparison to the same time last year and could impact on their bottom line.
That's the result of a survey* conducted by HBXL, the building software specialists, which set out to find what builders think of the credit crunch and how it's affecting their day-to-day workload Fortunately the majority of small to medium sized builders across the country expect their workloads to remain steady throughout the remainder of 2008** despite the initial drop off at beginning of the year
This article was originally published on Buildingtalk on 31 Oct 2007 at 8.00am (UK)
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The result of builder's drop in confidence comes at a time when keeping a tight reign on costs is more vital than ever as they ride out the current slowdown.
Opportunity.
However Joanna Mulgrew, marketing director at HBXL, believes the apparent economic slowdown provides a good opportunity for builders to consolidate their position and put in place structures that will see them ride out the effects of the credit crunch.
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Joanna said: "It is well known throughout the sector that during periods of slow economic growth more people look to improve their properties than move.
This presents a good opportunity for builders to secure more work and maintain their bottom line profits." This is backed by the fact that just over 30% of those surveyed said they were just as confident as last year with 17% saying their confidence was better.
And for those that want to ensure their business makes it through the next few months unscathed, Joanna is adamant it's those that present themselves professionally and demonstrate where customer's money is being spent will be the ones to secure new business ahead of the competition as well as setting the foundations for future growth once the economy starts to recover.
Joanna added: "Presenting themselves professionally has a direct impact on the bottom line and by using IT and software packages such as EstimatorXpress to produce estimates and quotes has been proved to work.
It produces a calibre of quotes that many customers now expect as standard." Additional research has also shown that users of HBXL's EstimatorXpress software win more work than those who don't in addition to taking less time to produce the quotes.
Prior to using the software builders had to produce seven quotes to win one contract.
After using EstimatorXpress that figure reduced to one in three.
Joanna added: "Unlike other estimating packages on the market, EstimatorXpress is a robust system that is simple to use, providing builders with totally accurate estimates.
It means builders can present in confidence to their customers their quotes knowing that the information is totally up-to-date.
"In addition our software makes it easy for users to factor their profit margin allowing them to see what they are going to make on any one project.
With general building costs rising, those using outdated figures to price up jobs will have a lower profit margin.
"Using EstimatorXpress means planning ahead becomes a whole lot simpler and makes the release of capital much easier as bank managers are able to see where the money is going and coming from.
"The benefits far outweigh any concerns builders may have about investing in estimating software.
They need to win every job that comes their way and be prepared for when the market starts to pick up again and the only way they are going to do this is by using software solutions that demonstrates professionalism, develops realistic budgets and maximises profits.".
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