Xactimate: The History & The Future

White Paper Excerpt:

Starting in 1989, Xactware pioneered a scientific approach to providing building cost data for the restoration ecosystem. From the outset, Xactware’s primary function has been to report market prices based upon industry surveys and recent transactions that have occurred. To accomplish this, Xactware developed a three-pronged approach we will refer to as the “Bottom-Up”, “Top-Down” and “Electronic” methodology.

Bottom-Up: Reviewing and understanding of the time and material costs by price surveying local wages, material, and equipment needed to perform the work.

Top-Down: Surveying unit costs from local subcontractors and service providers. Each month, Xactware’s pricing department reviews nearly 20,000 market surveys of randomly selected contractors, suppliers, and service providers.

Electronic: Reviewing completed estimates/invoices that have been submitted for feedback or processed through XactAnalysis. More than 400,000 estimates are returned to Xactware every day via these channels…