Software provides competitive bid analysis.
Press Release Summary:
BidTrak Bid Analysis Software is designed to help contractors analyze bidding histories and tendencies of competitors. It analyzes historical bid data of competing contractors and weighs factors like general market conditions, job difficulty and current workloads to determine range in which competing bids are most likely to fall on a given job. Bar graph display screen allows users to see how their bids measure up against projected bids.
Original Press Release:
Quest Solutions Releases BidTrak Competitive Bid Analysis Software
SARASOTA, Fla. - Quest Solutions is proud to announce the release of BidTrak, a new software tool designed to help contractors analyze the bidding histories and tendencies of their competitors in order to provide a competitive advantage in the bidding process. BidTrak analyzes the historical bid data of competing contractors and weighs factors like general market conditions, job difficulty and current workloads to determine the range in which competing bids are most likely to fall on a given job. With this information, contractors can adjust their own bids to maximize both profitability and their chance of winning. The first phase of the BidTrak process is building the database. The database contains the historical bid data that forms the basis of BidTrak's projections and is augmented with each completed bid. Once the database is built, developing a competitive bid analysis requires just six easy steps and usually takes no more than a few minutes. Contractors can immediately see how their bid measures up against projected bids from their main competitors thanks to BidTrak's bar graph display screen. Armed with that information, BidTrak users can then make any necessary adjustments before bid day-whether to raise their bid to increase potential profits, for example, or lower the bid to improve the odds of winning. BidTrak also comes with several built-in reports, including competitor summaries, bid summaries, bid types and bid details.