What does SVB’s Collapse Mean for the Construction Market and How Can ConWize Software Help General Contractors?

Silicon Valley Bank’s (SVB) recent collapse has left many in the construction industry wondering about the potential impact on their businesses. Financing for construction projects may be harder to come by, and general contractors may struggle to secure the funding they need to complete their projects.


In these uncertain times, ConWize offers a solution for general contractors looking to streamline their tendering process and improve their bottom line. ConWize is a cloud-based, end-to-end bidding and estimation platform that includes powerful KPI analytics and predictive capabilities that help main contractors make data-based decisions and eliminate risks. With ConWize, general contractors can manage their projects more efficiently and effectively, even in the face of unexpected challenges like the collapse of a major lender.


ConWize’s platform is the only cloud-based tendering platform that combines both bidding and cost estimation solutions, enabling contractors to manage all their tendering processes in one spot. ConWize allows contractors to analyze estimates, prevent human errors, save time and money, and receive alerts to always be ahead of their deadlines and competitors.


ConWize’s predictive analytics tool helps construction companies accurately estimate project costs by using advanced algorithms to analyze historical data and compare costs from previous projects. This tool can be used to evaluate project volume and identify gaps between manual cost estimations and historical data, allowing for risk management and protection against critical mistakes. Ultimately, this tool can save construction companies time and money.


“At ConWize, we understand the challenges that general contractors face in the current climate,” said Dima Haikin, CEO of ConWize. “We’re committed to providing a solution that can help contractors navigate these uncertain times and come out ahead. Our platform is designed to streamline cost estimation accuracy and improve the bottom line, so contractors can focus on what they do best: completing successful projects.”


The collapse of SVB is a concerning development for the construction market, but with ConWize, general contractors have a powerful tool at their disposal. With its advanced bidding and cost estimation capabilities, ConWize can help contractors stay competitive and successful, even in uncertain times.



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