
Why 3 quotes?
Most FM and construction teams still rely on multiple quotes to decide whether a job is fairly priced. But what happens when the real pricing knowledge lives in the heads of just one or two experienced people? In this episode of The Data Edge, Stephanie Wiechers looks at the hidden cost of that system: slower approvals, unnecessary contractor work, weaker supplier relationships and teams waiting days—or even weeks—for decisions that should take minutes. Using a real-world facilities management example, Stephanie explores how historical invoice data can be turned into a practical cost baseline. Instead of requesting three quotes every time, teams can compare a new quote against prices they have already paid for similar work and quickly identify what looks reasonable, what looks unusual and what genuinely needs senior review. The episode also includes a simple exercise you can do with your own invoice data to start building a baseline without new software. In this episode: Why the three-quote process creates unnecessary friction How pricing knowledge becomes an operational bottleneck How historic invoices can reveal a fair-price range Why cost baselines can improve supplier relationships A practical way to build your first baseline in under an hour The Data Edge is for facilities management, construction and infrastructure teams looking to get more value from their data. #FacilitiesManagement #Construction #Procurement #DataAnalytics #CostManagement #FM #InvoiceData #SupplierManagement #ConstructionData #TheDataEdge
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