COVID19 Delays Electronic Construction Bid Platform Release
Combined COVID and Regulations Affecting Construction Industry Economic Activity Postpones Release of New Electronic Construction Bid Submission Platform
SIOUX FALLS, SD (March 31, 2020) – RFQGuides announce delays final field testing and official release of a new Electronic Construction Bid Submission Platform designed for construction buyers. The roll out was slated to provide free access to 2000 construction buyers and service providers converting an estimated $60 million in construction bids submitted on paper to a centrally managed digital platform.
Currently, project details and contractor bids are submitted on digital paper (word, excel, pdf files, etc.) through distributed sources like email and cloud storage. PaaS and SaaS platforms like electronic construction bid submission systems are at the forefront of rebuilding an industry and designing new technology around the diversified industry of construction and its related trades.
Shelter in Place Orders may have its greatest impact on the construction industry. As existing projects screech to a halt, new construction planning will still be in the stalls. If for no other reason, cash flow at the center of most commercial operations will also be infected by the virus.
The average time delay to get a construction project off the ground was exceeding 25 months before COVID. Delays related to unknown state of regulatory restriction is likely to push launch times further into the future. Once trade industries get up and running, preexisting projects, those in progress that need to be completed will demand manpower placing a greater strain on launching new projects.
RFQGuides expects to launch the new platform as economic conditions improve, said Sasha Christos (RFQGuides). Construction bidding and contractor submission occurs during the latter half of the feasibility stage of construction planning. Demand and enough users to define final application adjustments are predicated on an economic recovery in the construction industry.
About RFQGuides
RFQ is the leading developer of standards based technology solutions centrally accessible to the construction project supply chain integrating SaaS and PaaS API support for industry trades while offering project centered applications for construction buyer stakeholders that validates, secures and assures the confidential exchange of financial data across the entire construction project ecosystem. Products include use-case APIs for individual projects, stored and managed data, concept to completion APIs and subscription APIs with enhanced functionality for construction professionals, [independent] contractors and material / equipment suppliers. All APIs are designed to operate independently and/or exchange data with various components of the construction project supply chain when enabled via approved authentication credentials.
About BidForms Organization
BidForms Organization (BFO) is a construction industry body that recommends and advocates cross-industry integration of standards for the secure paperless exchange of construction project design and financial data. BFO maintains the databases for Digital Contractor Qualification Statements, Blockchain Standards and Centralized Validation. BFO develops and provides open source APIs for construction software developers and construction service providers that offer solutions to establish and connect to a construction project supply chain.
For more information contact,
Jamie Cryolin
(312) 555-1212
jc_press@rfqguides.com
