Facility cost Forecasting and Management tool

Technology Stack

Problem Statement

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Inaccurate Estimates: Difficulty in accurately estimating costs for materials, labour, and equipment due to manual calculations and lack of real-time data.

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Inconsistent Data: Inconsistent data input and tracking methods can lead to discrepancies and errors in the budget and cost estimates.

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Lack of Visibility: Inability to have real-time visibility into project costs and budgets, making it difficult to make informed decisions.

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Tracking actual costs: Keeping track of actual costs incurred during the construction process and comparing it to the budget can be challenging, especially for large-scale projects.

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Cost control: Adequate cost control systems need to be in place to manage budgets effectively but implementing and maintaining these systems can be challenging.

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Solution Overview

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A Leading expert in construction industry collaborated with us to develop facility cost management solution to manage projects and determine cost forecasts.

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The cost management solution allows customers to estimate costs for buildings based on equipment level analyse.

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The application enables users to manage tasks and estimates for material, labour, and equipment requirements.

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The client can provide accurate project estimates in minutes, for benchmarking entire portfolio costs or creating detailed M&R project.

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The solution allows for easy access to export asset-level data, including annual costs, average costs, cost by task per year, deferred costs, and inventory for folders and assets.

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Business Impact

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Increased efficiency: The solution streamlines tasks and allows construction professionals to efficiently track material, labour, and equipment requirements, reducing the risk of project delays and cost overruns.

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Improved accuracy: By using a facility cost management solution, construction professionals can more accurately estimate costs, reducing the risk of cost overruns and ensuring projects are completed within budget.

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Enhanced collaboration: The solution facilitates communication and collaboration between team members, allowing for more seamless project management and improved decision-making.

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Better decision making: The solution provides real-time data on project costs, enabling construction professionals to make informed decisions, adjust their budgets accordingly, and avoid unnecessary expenditures.

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Increased profitability: By improving efficiency, accuracy, and decision-making, construction professionals can ultimately increase profitability and competitiveness in their respective markets.

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Testimonials of Our Happy Clients

Rick Tigges

Rick Tigges

CFO, Bemodo

"They are very responsive and able to shift focus quickly as we have needed it for business reasons."
Ryan McClellan

Ryan McClellan

CEO, iLookin.com, LLC

"They [OptiSol Business Solutions] have been very friendly and they kept up with the work. They did the job as we had discussed and as everything was arranged."
Chris Gordon

Chris Gordon

CEO, Wait for me

“I can't speak enough about how pleased I am with their process; it was seamless and efficient.”
Oli Robinson

Oli Robinson

CEO, Rule:Fresh

"What impressed me the most was their willingness to go above and beyond what was asked."
Dan Talken

Dan Talken

Founder, My Equipment Library, LLC

"We're constantly impressed with their speed and quality of the development that they achieve on a consistent basis."
Ken Kisner

Ken Kisner

Molecule Corp

The best part about working with OptiSol Business Solutions is their commitment to being readily available to their partners. They’re even willing to work into late hours of the night depending on time differences. The solution they produced has already doubled efficiency levels.

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Related Insights

Key Features

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Add M& R tasks to projects

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Capital Planning to help customers in allocating budgets

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Data Exports/Reports

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User Management

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Import Master data

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Manage New Cost Estimate

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Manage Masters

Our Award-Winning Team

A seasoned AI & ML team of young, dynamic and curious minds recognized with global awards for making significant impact on making human lives better

Awarded Bronze Trophy at CII National competition on Digitization, Robotics & Automation (DRA) – Industry 4.0

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50+

AI & ML
Engineers

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40+

AI & ML
Projects for
reputed Clients

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5 yrs

in AI & ML
Engineering

Awarded as Winner among 1000 contestants at TechSHack Hackathon

Trusted and Proven Engagement Model

  • A nondisclosure agreement (NDA) is signed to not disclose any sensitive information revealed over the course of doing business together.
  • Our NDA-driven process is established to keep clients’ data and IP safe and secure.
  • The solution discovery phase is all about knowing your target audience, writing down requirements, and creating a full scope for the project.
  • This helps clarify the goals, and limitations, and deliver quality products & services.
  • Our engagement model defines the project size, project development plan, duration, concept, POC etc.
  • Based on these scenarios, clients may agree to a particular engagement model (Fixed Bid, T&M, Dedicated Team).
  • The SOW document shall list details on project requirements, project management tools, tech stacks, deliverables, milestones, timelines, team size, hourly/monthly rate cards, billable hours and invoice details.
  • On signing the SOW, an official project kick-off meeting shall be initiated.
  • Our implementation approach, ecosystem, tools, solutions modelling, sprint plan, etc. shall be discussed during this meeting.
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