Bench iT

Bench iT is a construction cost benchmarking and analysis tool designed to assist construction firms in comparing project costs to industry standards. This solution caters to the needs of quantity surveyors, project managers, construction estimators, architects, and contractors across the construction industry. According to the vendor, Bench iT empowers professionals to make informed decisions and identify areas for cost improvement.

Key Features

High-level aggregated project cost benchmarking: According to the vendor, Bench iT allows users to quickly compare project costs to industry standards and gain instant cost estimates, providing insights into cost performance at a high level.

Individual unit rate analysis: Users can drill down into individual unit rates and gain a detailed view of project cost comparisons, helping them identify specific areas for cost improvement and optimize construction projects.

Private and secure: The vendor claims that Bench iT ensures the privacy and security of data, allowing only authorized personnel within the organization to access the entered data.

Project library: Users can easily upload pricing documents and other project details to create a comprehensive project library. The vendor states that Bench iT enables browsing of all aspects of construction projects, including raw pricing, contract documents, key performance indicators (KPIs), stakeholders, and smart graphs.

Analytical features: Bench iT offers one-to-one project comparison, stakeholder benchmarking and comparison, and the ability to track project performance against industry benchmarks. The vendor claims that Bench iT provides key performance indicators based on both quantitative and qualitative metrics.

Rate rebasing: According to the vendor, Bench iT automates rate rebasing, keeping data up-to-date without the need for manual calculations. Users can rebase rates based on time and location and seamlessly support multiple currencies.

In-browser pricing documents: Bench iT allows users to view project pricing documents directly in their browser using a user-friendly interface. The vendor claims that there is no need for complicated downloads or wait times, making project management more efficient.

Cost estimation: Bench iT provides built-in support for high-level and elemental level estimating. The vendor states that the tool also offers support for the NRM1 standard and allows estimation based on m2 costs or per unit costs, enabling users to create accurate budget estimates.

Collaboration and sharing: Bench iT facilitates multi-user collaboration and easy sharing of project data with team members. The vendor claims that it seamlessly integrates with other software tools, streamlining workflow.