FusionFox ScopeRide ERP Software/ Solution for Small Construction and Building Industry

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Estimatrix: Accurate estimations are driven by scientific cost modeling and cognitive machine learning

Cloud software solution for project-centric businesses to transform estimation process, schedule generation, and project cost management. Estimatrix is artificially intelligent, scientific, learn from actual data, and robotically corrects planning models.

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Manual planning poses a high risk of miscalculation and errors

Efficient cost estimation and delivery time planning is a serious concern for companies today, especially in the industries like construction, interior designing, event management, infrastructure development, and software services. The risk involved in the cost and time estimation process due to the involvement of manual activities is a constant challenge for business leaders across the world.

 

Organizations rely heavily on individual expertise and an excel-based planning approach, often deep-diving into past estimation records, and project costing data, to keep their cost estimation and planning strategies sharp and updated. However, they lack the system’s intelligence that can eliminate the repetitive manual planning activities and the risk of miscalculating costs or promising incorrect delivery time to their customers.

Estimatix is capable of reducing up to 90% of the effort involved in the cost and time planning while enhancing efficiency significantly 

Estimatrix harnesses the power of scientific cost modeling and predictive analytics to help organizations eliminate the risk involved in the planning process. Keeping the spotlight on the system learning from the actual project data and correcting estimation models robotically while keeping a straightforward account of where estimation models are going wrong.

Key Capabilities of FusionFox Estimatrix:

  • Build activity-based cost and time requirement modeling, generate estimations automatically by mapping customer requirements.

  • Accelerate estimation process and minimize time and effort required in creating estimations, review, and approvals process.

  • Scientific and predictive cost planning that involving various factors e.g. cost, time, brand preference, requirement breakdown, personalization options.

  • Robotically correcting time and cost planning models with the effective use of statistical data to continously enhance efficiency.

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Scientific

Our cutting-edge capability is built on scientific cost and time calculation models powered by remarkable system intelligence to assist you in driving safely, quickly, and efficiently.

Accurate

Accounting every aspect and factor that influences the cost and time estimations. Models are applied efficiently across specific client needs, preferences, and personalization choices.

Predictive

Machine learning using statistical data and intelligently correcting cost and time planning models provide the most efficient, accurate and instant estimates against the supplied SOW.

 

FUSIONFOX ESTIMATRIX FUNCTIONAL CAPABILITIES

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Scientific Cost Modeling

A configurable cost modeling engine allows you to account for every factor that influences cost, various dimensions and personalization options. Estimatrix will allow organizations to intelligently generate error-free cost estimations on the go and eliminate all the manual and repetitive activities involved in the estimation process.

 

Our power-packed solution enables: 

  • Material cost modeler includes branding options, setup subunits BoQ and requirements, custom requirement modeling, scope to quantity escalation 

  • Labor demand modeling, internal and external rate factoring, flexible planning units, and account scope to demand ratio.

  • Account cost of internal services, third-party services, equipment rentals, mobilization, and logistics.

  • Compliance, approvals, testing, clearing, and cost involved in getting regulatory permits.

  • Setup personalization options, brand and material choices, and account for relevant cost implications. 

Delivery Schedule Generator

Enabling project planners, estimation teams, delivery planners to generate project plans automatically by efficiently modeling time requirements to deliver given scope of work and taking into account various factors.

 

Estimatix will help you eliminate all the repetitive and mundane activities from the planning process and enable you to:

  • Create task breakdown structure, time to scope matrix, and model dependencies.

  • Setup time scaling method, either to go with straight-line or reducing time approach. 

  • Define scaling ratio percent for the system to recognize how to inflate time requirements when the scope size goes up or down.

  • Create a pre-requisite items checklist to kick off the task or activity.

  • Incorporate various factors that can possibly influence the time requirements to complete single or multiple tasks

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Machine Learning and Correcting Models

Estimatix is designed to continuously learn from the actual cost, task execution data and identify gaps in your estimation models. Our cognitive machine learning tools involve programmed self-learning systems that use data mining, pattern recognition to reflect human actions. It can enable you to:

  • Identify gaps in your planning approach/ models so that your planning efficiency is continuously improved.

  • Learn the reasons why such gaps are developing and what is the missing element so that you can factor that in your planning models.

  • The system is fully capable of learning and correcting the cost and time planning models robotically.

  • Automatically corrects scope to time and scope to quantity ratio by learning from the actual data.

It works perfectly with any contractor involved in delivering turnkey project or executing a subcontract

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