CostX® Benchmark Is Now Available
Exactal is pleased to announce the launch of a much-anticipated new product designed to leverage historical information for proposed developments. CostX® Benchmark is a fully web-based application that allows users to analyse previous projects with similar attributes to create accurate project benchmarks and conceptual estimates.
CostX® Benchmark is designed to integrate with Exactal’s flagship CostX® software. The major features offered by the application include:
- The ability to draw upon client data to create a database of high-quality historical construction project information for detailed benchmark analyses and quick and accurate conceptual estimating.
- A range of Project Attributes to assist with identifying relevant projects within the database, with custom Attributes able to be created as required.
- Support for multi-level cost breakdown structures such as NRM1, Uniformat, Masterformat and similar, with project cost information able to be viewed dynamically by switching between multiple cost breakdown structures.
- Index factors that allow historical data to be updated to reflect both time and location-based cost considerations.
- Functional analysis and comparison to support the review of projects with specific characteristics relevant to their functional use, such as hospitals, offices, roads, railways, etc.
- The capacity to easily import and export project data between CostX® Benchmark, CostX® and Microsoft Excel®.
- A range of reports for comparing and displaying benchmark data.
The Software as a Service (SaaS) platform is supported by the latest version of major web browsers including Google Chrome, Microsoft Edge, Mozilla Firefox and Safari. CostX® Benchmark is published over HTTPS and secured by an industry-standard SSL certificate with 2048-bit encryption.
As an industry-leading supplier of construction software, Exactal have sought to deliver a complete benchmarking and conceptual estimating solution with CostX® Benchmark. The platform is a valuable supplement to Exactal’s flagship CostX® range for those striving to realise the potential of their historical project data.
Exactal Chief Executive Officer Murray Freeman noted; “We are excited to further develop our product portfolio with the launch of CostX® Benchmark. We responded to client feedback that called for greater support for data analysis during pre-construction processes, and our development teams have worked hard to create a product that addresses this need. Exactal is dedicated to creating innovative software for construction, and we’re confident that CostX® Benchmark will be well-received by CostX® clients and new users alike.”
Brisbane-based Quantity Surveying firm Mitchell Brandtman are already working with CostX® Benchmark. Mitchell Brandtman Partner Matt Hemming stated; “CostX® Benchmark has been an invaluable tool for our business. It allows us to benchmark current estimates against known historic information, adjusted by time and location, as well as to easily create quick conceptual estimates with a high degree of accuracy. The value-add to our clients has been immeasurable, and the ability to access this web-based platform anytime and from anywhere with an internet connection, has given us immense flexibility. CostX® Benchmark is a fantastic product that complements the existing CostX® estimating software suite, and one we would recommend to any QS or Contractor.”
Established in Brisbane, Australia in 2003 to develop software specifically for the quantity surveying and estimating market, Exactal has continued to expand its worldwide presence. It now has offices in Brisbane & Sydney in Australia, London in the UK, Auckland in New Zealand, Austin in the USA, Kuala Lumpur in Malaysia, Dubai in the UAE and Singapore and Hong Kong. The company also has sales and channel partner support across much of the globe. The main product CostX® provides an integrated BIM and 2D on-screen measurement solution with a unique integration between the cost estimates and the elements on the drawing files that the estimate represents. This approach keeps estimates up to date and allows drawing revisions to be easily evaluated to eliminate traditional scope creep in construction projects. Exactal is an RIB Software Company.