ConWize’s cloud-based platform provides an end-to-end solution for project cost estimating and bidding automation for the construction industry. The goal: gaining control over tenders management with maximum efficiency and minimum mistakes.
This is one of the most difficult problems general contractors are facing in the construction industry. These are often required to face complex tenders that require in-depth preparation, investing considerable time and financial expenditure, but in practice, due to countless estimating KPIs and tasks, they do not always manage to “take control” of the job.
“Every significant global project is based on the submission of a tender,” explains Ran Levy Sody, CRO and Co-founder of ConWize, a software company that in the last two years has developed a first-of-its-kind software that provides a truly end-to-end solution for project cost estimating and bidding automation for the construction industry. Levy Sody describes the background to the common conduct in the world of tenders today, especially in the dynamic and inherently complex construction industry. “It is often a long operation made up of countless parameters, which often requires corresponding with tens or even hundreds of subcontractors and suppliers at the same time, not to mention the need for bidding and never-ending occupation with cost estimation, starting with the costs of overhead expenses, guarantees, insurances and more. The lack of this control is a sure recipe for mistakes, which may lead those approaching the tender not to win it at all, or alternatively, even if they have already won it, to work without profitability or even at a loss,” according to Ran.
Increasing the chance of winning tenders
Conwize’s cloud-based platform, specially designed for contractors, carries real news for all parties in the construction industry, by simplifying the process, with an emphasis on project quoting and the management of bidding with subcontractors and suppliers under one online roof. The software offers the users the possibility to work with predefined templates that significantly reduce the chance of making critical mistakes. On the other hand increase the chance of winning tenders by tens of percent, while minimizing the risk of harming profitability.
“The company was established from the beginning out of a desire to prevent years of uncertainty in an industry of such fundamental value to the economy,” explains Ran Sody as he benevolently refers to the revolutionary solution offered by the company. “We believe that there is no reason to take part in a tender if your projects’ profitability is at stake.
This is an absurd and clearly unreasonable situation, which ConWize managed to change. In a reality where nearly 70% of the projects in the industry exceed the budget defined for them in the first place, this is undoubtedly the “Achilles Heel” of the general contractors, who for their part are dealing with a real hardship based on an improper estimate. We came to change this reality.”
Entering new markets
Conwize’s proven successful team includes Ran Levi Sody (CRO), Dima Haikin (CEO), and Denis Umnov (CTO), entrepreneurs with over 15 years of experience each, in the field of information technologies and in the construction industry in particular.
The three state that after being closely exposed to the failures and gaps that exist in the field of tendering, they decided to act and establish the software designed to benefit all parties in the industry.
Among ConWize’s customers who use the software are currently dozens of construction companies. The company’s first market outreach was Israel, and today 8 of the 10 biggest general contractors in Israel are ConWize’s satisfied customers.
After a short period of time, the company became a market leader as a result of the proven benefits of using the software, which helps to minimize up to 90% of estimating errors, save 50% of the work time on each tender and optimize all the processes with the subcontractors at a rate of about 70%, all this with a return on investment of fewer than 3 months,” Levy Sody clarifies.
ConWize completed this year a significant seed fundraising round in the amount of 2.8 million dollars and these days are expanding to global markets.