As we move towards 2024, the restoration industry is evolving rapidly, with technological innovation helping fuel this dramatic change. The newly released 2023 C&R State of the Industry report shines a light on the current state of technology in the restoration industry and which estimating tools are currently winning the market.
In this article, we’re unpacking the top 5 software tools for creating restoration estimates. This isn’t just our opinion. It has been ranked, vetted, and approved by your industry peers. These software options are transforming the landscape of restoration, providing the functionality that restorers like you can rely on.
The Top 5 Estimation Software for Restoration Pro's Heading into 2024
Let's dive in and explore how these software solutions are not just meeting, but exceeding the needs of restoration professionals like you.
In the world of property loss insurance claims, Xactimate is a true heavyweight. It handles about 80% of all claims estimates, showing just how much the industry trusts and relies on it. This impressive share is a clear sign of Xactimate's standing as a trusted leader in the field.
Key Features & Benefits:
- Up-to-date, Localized Cost Data: Xactimate keeps you ahead with monthly updates of cost data that are specific to the postal codes of your claims. This means you always have the latest and most relevant pricing information for your region.
- Comprehensive Estimation Tools: From detailed loss documentation and estimation to sophisticated sketching capabilities using aerial data, Xactimate provides a versatile toolkit for every estimation challenge.
- Project Management: It allows you to keep track of essential documents, images, and calculations related to depreciation, waste, time, and materials.Seamless Integrations: Enhance your workflow with Xactimate’s integrations with major industry software like Phoenix Drylink, Hover, Next Gear Solutions, Matterport, PSA, and others, ensuring a cohesive and efficient process.
While Xactimate's comprehensive features are commonly known to require a significant learning investment, the precision and in-house cost efficiency it offers are unparalleled. For mastering this platform, KnowHow provides step-by-step guidance, ensuring your team can operate with proficiency and accuracy.
2. T&M Pro
T&M ProSuite really shines when it comes to managing time and costs. It's designed just for the restoration industry, making sure that keeping track of your finances is as strong and dependable as the restoration work you're doing.
Key Features and Benefits:
- Specialized Costing Features: T&M Pro is specifically engineered to track, manage, and control costs in restoration jobs. This ensures that your projects are financially healthy and well-supported.
- Versatile Billing Methods: With its ability to handle a variety of billing methods, including time and material, rate and material, or cost plus, T&M Pro is adaptable to the diverse billing requirements of complex projects.
- Seamless Estimation Process: The T&M Estimator, a key suite component, simplifies the creation of detailed estimates or ROMs (Rough Order of Magnitudes). It harnesses T&M Pro's industry-leading features to streamline the estimation process.
T&M ProSuite’s focus on internal integration creates a streamlined, all-in-one ecosystem specifically designed for restoration work.
QuickBooks is a popular choice for many contractors because it's easy to use and great for budget-friendly restoration and remodeling quotes. Even though it might not be the top pick for more detailed restoration estimates and insurance claims, QuickBooks really stands out when it comes to essential tasks like invoicing and keeping track of finances.
Key Features and Benefits:
- Intuitive Interface: Features a user-friendly interface, making navigation and operation easy, even for those who aren't experts in accounting or estimations.
- Automated Transaction Sync: The software automatically updates bank and credit card transactions, streamlining the financial tracking of job expenses and income.
- Payroll Management: Efficiently handles payroll, ensuring that all payments and financial records are accurate and up-to-date.
- Mileage Tracker: With the mobile app, construction workers can track mileage for business trips, crucial for expense reporting and customer billing.
QuickBooks' integration capabilities, particularly with Industry leaders like as Xcelerate, Encircle, Restoration Manager, and more, enhance its utility in the financial management of restoration operations. Restoration companies that pair QuickBooks with other estimation tools, can see it become an invaluable asset for managing the financial aspects of their operations.
4. CoreLogic Claims Connect
CoreLogic Claims Connect is quickly becoming a favorite in the restoration industry. It stands out for making the claims process more transparent and easy to follow. As an all-in-one platform, it covers everything from creating estimates to handling invoices, and it's specifically designed to simplify the insurance claims process for both restoration professionals and property owners.
Key Features and Benefits:
- All-in-One Estimation and Management: Integrates job estimation and client management with a built-in CRM, streamlining both processes in one platform.
- Real-Time Updates: Offers claim updates in real-time, enhancing transparency and client satisfaction throughout the claims process.
- Centralized Data Hub: Acts as a centralized hub for all claim-related information, accessible to both clients and employees remotely. This feature simplifies data management and improves accessibility, making information retrieval and communication more efficient.
Claims Connect's open API approach with tools like PLNAR, Eagleview, Docusketch, Matterport, and HOVER makes it a comprehensive system for claim management, prioritizing efficient communication and transparency.
Joist is well-known for being simple and effective in estimating and managing jobs. It helps make your bids look more professional and streamlines the estimation process. While it's mainly used in construction and remodeling, it's also a handy tool for restoration work.
Key Features & Benefits:
Customized Professional Documents: Elevate your brand by adding your company logo and including up to 20 photos in estimates and invoices, making each document you send out look more professional and detailed.
- Easy-to-Use Estimate Creation: Joist streamlines the estimation process, allowing for quick and accurate project quotes with easy-to-use tools, ideal for construction and remodeling projects with a focus on efficiency.
- Efficient Work Order Management: Create work orders from existing estimates or invoices with ease, keeping sub-contractors in the loop and sharing job details quickly via email or text while ensuring sensitive information is protected.
- Enhanced Client Interaction: Stay informed with real-time notifications on client interactions and securely manage contracts and signatures, ensuring smooth project progression in the native CRM
Joist’s partnership and integration with QuickBooks ensures up-to-date financial records, making it ideal for contractors prioritizing efficiency and client engagement.
Each of these software solutions, handpicked by restorers in the 2023 C&R State of the Industry report, brings a unique set of strengths to the restoration industry's table. Whether you are spearheading a small, agile team or managing a large-scale operation, these software solutions stand ready to align with your business's unique rhythm and challenges.
The challenge lies not just in selecting software that fits your current needs but also in finding a solution that your team can quickly adapt to and excel in as you grow your business. Training new and existing staff on these tools is pivotal to their effective implementation, which is why so many restoration companies rely on KnowHow to bring new hires up to speed and serve as a single source of truth for all their on-the-job questions about software, equipment, or any other process.