In the fast-paced construction industry, contractors face a myriad of challenges, including managing costs, meeting deadlines, and staying competitive. One of the key aspects of successful project management is efficient bid tracking. Bid tracking refers to the process of monitoring and managing all aspects of the bidding process from receiving bids to awarding contracts.

Bid tracking tools help contractors stay organized and on top of project details. By keeping track of all bid-related information, these tools enable contractors to manage budgets, deadlines, and project scopes effectively. This is essential not only for staying competitive but also for ensuring that projects are delivered on time and within budget.

What are Bid Tracking Tools?

Bid tracking tools are software solutions designed to help contractors manage their bid processes effectively. These tools centralize project details, track deadlines, monitor costs, and facilitate communication between stakeholders. They are vital for simplifying the often complex and time-sensitive nature of bidding in construction projects.

Key Features:

• Practical bid tracking tools allow contractors to:
• Monitor bid statuses to ensure nothing is overlooked.
• Keep track of important deadlines to avoid costly delays.
• Maintain visibility into costs and resource usage.
• Facilitate effective communication among team members, subcontractors, and clients, ensuring everyone is aligned and on the same page.

Types of Bid Tracking Tools

Manual vs. Digital Tracking: Although manual methods (such as spreadsheets and physical documents) are still in use, they are prone to errors and inefficiency. Digital tracking tools, on the other hand, automate processes and allow real-time updates.
Software Platforms vs. Standalone Applications: Some contractors prefer all-in-one project management platforms, while others opt for specialized, standalone bid tracking applications, depending on their specific needs.

Popular Bid Tracking Tools for Contractors

PlansBid

PlansBid is a cloud-based collaboration and bidding platform designed for all stakeholder types in the Canadian construction industry including general contractors, subcontractors, and suppliers. It simplifies preconstruction workflows, bid management, and industry networking all in one intuitive interface.

Bid Tracking & Collaboration Features

• Unified Bid & Project Access: General contractors can post tenders—complete with project documents and drawings—and instantly access a vast network of subcontractors and suppliers
• Network-Driven Matching: Subcontractors and suppliers can discover opportunities using smart filters (e.g., trade, location), making bid sourcing faster and more relevant.
• Built-in Estimation & Takeoff Tools: Built-in digital takeoff tools and a robust cost library (over 92,000 items) help subcontractors estimate confidently and efficiently.
• Bid Management & Tracking: Bids are managed through a centralized bid board that features automatic reminders, real-time status tracking, and side-by-side comparisons for informed decision-making.
• Mobile & Collaboration Support: Full mobile app functionality allows users to manage projects, upload documents, and communicate with team members and stakeholders from anywhere, with seamless cross-platform syncing.
• All-in-One Preconstruction Hub: PlansBid consolidates bidding, project management, and communication tools into a single platform, reducing reliance on multiple systems.
• Extensive Professional Network: Users gain access to tens of thousands of industry professionals—over 50,000 general contractors, 400,000 subcontractors, and 30,000 suppliers—making networking and collaboration far more efficient.
• Smart Communications: Built-in messaging and project notifications eliminate the need for endless cold calls and email threads, allowing for more streamlined collaboration and follow-ups.

Pricing Tiers & Accessibility

• Starter (Free): Ideal for getting started – offers access to select projects and weekly-added tenders, with no credit card required.
• Standard (~CAD 150/month or CAD 1,530/year): Opens access to all regional jobs, awarded contract information, unlimited users, unlimited document downloads, and premium support.
• Pro (~CAD 999/month or CAD 10,190/year): Offers full platform access, access to the builders directory, and all Standard-level benefits—ideal for contractors handling large-scale bids across Canada.

Best For

PlansBid is particularly well-suited for Canadian contractors aiming to:

• Discover and bid on relevant projects efficiently
• Build meaningful industry connections
• Use integrated estimation, messaging, and mobile tools to simplify workflows

Buildertrend

Buildertrend is an all-in-one construction project management platform built for residential builders, remodelers, and contractors.

Features:

• Seamless Estimating & Proposals: Create accurate estimates and bid proposals quickly, helping contractors win more jobs faster.
• Integrated Bidding Workflow: Bids are integrated with job cost tracking systems, streamlining change orders, budgets, and financial control.
• Unified Communication: Built-in chat, customer and subcontractor portals, file storage, and messaging ensure all communications stay centralized.
• Financial Tracking Integration: Effortlessly track budgets vs. actuals, manage purchase orders, estimates, and integrate with QuickBooks or Xero.

Pricing Notes

Buildertrend uses a customized pricing model. Most customers pay between $8,000 and $10,000 per year, which grants access to all features and unlimited users under a single license.

Procore

Procore offers a unified, enterprise-grade platform for preconstruction, project management, financials, and analytics—ideal for larger, more complex operations.

Features

• Centralized Bid Management: From bid package creation to awarding contracts, handling all bid-related activities in one place.
• Efficient Comparisons & Decisions: Compare bids side by side using bid leveling, then convert the accepted bid into a contract that updates financial projections immediately.
• Enhanced Document Control: Manage unlimited documents within bid packages, now with added support for downloading individual files instead of entire bundles.
• Proactive Engagement Tools: Track which bidders have viewed documents to follow up promptly and ensure engagement.

CoConstruct

Explicitly designed for custom home builders and remodelers, CoConstruct simplifies the preconstruction and client management workflows.

Features:

• Estimate-Driven Bid Requests: Pull bid lines directly from existing estimates, ensuring accuracy and avoiding duplicate data entry.
• Plan Room & Communication: Centralized plan room for file sharing and notifications for trade partners, with streamlined email bidding and auto-reminders.
• Financial Integration: After awarding bids, push details back into estimates or purchase orders, keeping budgeting and selections aligned.

Efficiency Gains
CoConstruct’s system automates reminders for approaching bid deadlines, emphasizing accuracy and clear communication for a smoother bidding experience.

SmartBid

SmartBid, now part of ConstructConnect, is a purpose-built bid management platform for general contractors focusing on preconstruction workflows.

Features:

• Invitation & Tracking Tools: Easily send bid invitations, track recipient engagement, document downloads, and manage deadlines through customizable calendars.
• Compliance & Subcontractor Management: Collect and manage essential documents like insurance certificates, licenses, and W-9s with OCR and compliance checks.
• Subcontractor Database: Maintain a private and secure database of subcontractors with filters such as trade, location, and status. Integrations include ConstructConnect Network and Dropbox.
• Plan Room & Integrations: Hosts plan files for bidders, syncs with STACK Takeoff tools, enhancing estimating workflows.

Performance Feedback
Users report simpler preconstruction processes, improved communication, and streamlined bid comparisons thanks to SmartBid’s focused features.

Why Bid Tracking Tools are Essential for Contractors

Biding track tools are invaluable for several reasons:

Time Efficiency

Automated reminders and real-time updates minimize manual effort and reduce the time spent searching for documents or data. This efficiency enables contractors to handle more bids without compromising accuracy.

Better Decision Making

With up-to-date information on costs, deadlines, and bid status, contractors can make strategic decisions based on reliable data. This real-time access to insights can be a game-changer in maintaining competitiveness and profitability.

Improved Collaboration

Bid tracking tools enhance collaboration by centralizing all project information and facilitating seamless communication among team members, clients, and subcontractors. This reduces the chance of miscommunication, improving overall project timelines and outcomes.

Competitive Advantage

In the construction industry, being able to respond quickly to opportunities is critical. Bid tracking tools enable contractors to respond more rapidly and effectively, ensuring they don’t miss out on potential projects due to delays or overlooked details.

Choosing the Right Bid Tracking Tool for Your Construction Business

Assessing Your Business Needs

• Project Size: Larger projects may require more complex software that integrates with other systems. In comparison, smaller projects can benefit from simpler tools.
• Team Collaboration: If your team is spread out geographically, cloud-based tools with strong collaboration features are essential.
• Budget: Be sure to evaluate the cost-effectiveness of the tool, taking into account the scale of your business and project volume.

Evaluating Tool Usability and Interface

Ease of use is critical. A user-friendly interface ensures that your team can quickly learn how to use the tool without extensive training. Look for mobile access and cloud-based options that allow for on-the-go tracking and updates.

Pricing Considerations

Determine whether the tool utilizes a subscription model or offers a one-time payment option. Consider the ROI based on your project size and the number of bids to determine which provides the best value.

Integration with Other Tools

Ensure that the bid tracking tool integrates with your existing accounting, CRM, and project management tools to avoid siloed data and workflows.

Challenges When Using Bidding Softwares

New software often comes with a learning curve, and implementing a bid tracking tool may initially cause disruptions. Training your team is crucial to minimizing downtime and maximizing the tool’s effectiveness.

While the upfront cost of bid tracking tools can be substantial, the long-term benefits of improved efficiency and accuracy often justify the expense. Be mindful of balancing the tool’s features with your budget constraints.

Given the sensitive nature of construction bids, selecting a secure cloud-based option with encryption and backup capabilities is essential to protect your data.

Wrap Up

Bid tracking tools are essential for improving efficiency, communication, and competitiveness in the construction industry. By investing in the right tool, contractors can streamline their bidding processes, reduce errors, and make more informed decisions.

The best bid tracking tool for your business depends on your project size, team structure, and specific needs. Take the time to explore the options, test out free trials, and select the tool that fits your requirements.

For further guidance on optimizing your construction bidding process, contact us or schedule a consultation to discuss the best tool for your needs.