ConWize is a cloud-based platform that digitizes and simplifies the process of cost estimating construction projects.
The purpose of the technology is to create digital transformation in the field of tender management for main contractors, subcontractors and developers, in order to protect companies from critical mistakes, help them win more tenders, and carry out projects more profitably.
What problem does ConWize solve?
ConWize was established out of a real need in the industry to manage the very complex operation of estimating construction projects. Currently, cost estimating and tender management processes with subcontractors and suppliers, are done manually in most companies, using Excel sheets and emails.
The tender cost estimating process is usually divided into the following stages: self-pricing, pricing by subcontractors, loading overheads (e.g. indirect costs of project staff fees, insurance guarantees, etc.).
Most project cost estimates are based on detailed bills of quantities that reach hundreds or thousands of lines. It is important to clarify that estimating the project cost for a tender can take several months, and sometimes not just one engineer, but an entire team deals with estimating the project. This of course depends on the size and complexity of the tender.
In addition, for the purpose of calculating project costs, it is usually necessary to contact dozens to hundreds of subcontractors in the various disciplines of the project. This operation is usually managed manually. During this process it is necessary to share a lot of information with subcontractors – bills of quantities, specifications, drawings, clarifications, support for changes in the tender and other relevant information, so that subcontractors can price each item according to their specialization (electricity, plumbing, air conditioning, elevators, etc.).
Within the tender departments themselves, it is necessary to transfer information between employees and share information with management, analyze estimate outcomes, and make decisions in real time.
After winning the project, it is necessary to share the information of the tender with the project manager and transfer the budget properly, in order to start the execution phase of the project smoothly and without delays.The way things run today in the construction industry, there are many factors that actually cause companies, and the industry as a whole, to run inefficiently. At the end of the day, cost estimating mistakes can be painful if a company estimated a project incorrectly, or alternatively did not win the tender due to an estimating mistake. Until ConWize, there were actually no advanced systems that allowed companies to work wisely, and which helped them improve with each tender.
So, what does ConWize do?
ConWize enables smart pricing at the most detailed level of bills of quantities. All aspects of project cost estimating are fully computerized in one place – self-pricing, online tenders with subcontractors, indirect cost loading and advanced analytics, that allow accurate examination of project pricing results, examination of important metrics defined by the company, and identification of possible errors in real time.
For example, ConWize make it possible for companies to use information from past projects, enabling them to improve performance over time by learning from past mistakes and successes.
Among other things, ConWize solves one of the most prevalent failures that exists in most companies – that is a quick and proper transition from the tender phase to the execution phase of the project. With ConWize, the project budget is transferred through the system from the tender’s department to the execution department, with the click of a button, creating a uniform language between the departments. All the information from the tender phase is accessible to the project manager in a visual and clear manner, enabling preparation for the execution phase to begin smoothly.
The ConWize system has a number of modules that also help manage the execution phase of the project:
· A pre-contract management module that allows project managers to plan and manage contracts with subcontractors and suppliers in full digital form. The ConWize system provides users with the ability to manage online tenders with subcontractors and suppliers, receive quotes digitally, automatically analyze and compare bids, analyze costs against a budget, prepare contract documents for signing, and digitally sign contracts. After signing a contract, the system seamlessly integrates with company operations systems.
· A visual and intuitive module to manage schedules which improves control over the execution status of the project. The system connects schedules, contracts and project cash flow.
All ConWize tools are designed to improve company performance and provide a competitive advantage.
The ConWize system is a complementary solution to ERP systems and is connected to them in real time at both the tender and execution stages.
For subcontractors in the construction industry, the system is a real hit. For the first time, construction industry has at its fingertips an advanced and simple tool that has been designed for its needs and is also suitable for small and medium-sized companies. The system is intuitive and there is almost no learning curve – after two hours of training you can use the system independently.
More details on solutions for subcontractors
Some facts and milestones:
· The platform was officially launched in early 2020.
· The company’s founders are Dima Haikin, Dennis Omnov and Ran Levy Sody.
· The founders bring with them decades of experience in the development and implementation of advanced systems in the construction industry. After years of experience and accumulation of knowledge they understand the processes and subtleties at a level that allows them to focus on what really matters and bring a real news to the industry.
· Some of the leading companies in the construction and infrastructure industry already use ConWize..
· Over 1,500 subcontractors and suppliers use ConWize
· The platform works in five languages, and has recently begun implementation in several European countries.
· ConWize was recently accepted into one of the most respected accelerators in Europe, after a lengthy process in which about 1,100 startups from 42 candidate countries submitted. The Pi Labs VC, which is in charge of the accelerator and specializes in construction investments, has invested in about 53 companies since 2014, and this is the first year that companies outside Europe have been selected to participate in the program.
Already today we see that our vision to improve the construction industry is slowly coming true. We see significant improvement and streamlining of work processes in companies that work with us.
ConWize is planning to expand in Europe and Israel in the coming year and is currently working on seed funding.
For more details and to schedule an appointment, please contact:
Ran Levy Sody, Co-Founder & CRO
Phone: +44 (0)20 8068 4606
Email: ran@conwize.io
