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Smart project cost management software and billing tools

Track expenses, labour, and equipment costs in real-time with project management costing software. Streamline billing, recognise revenue based on milestones and completion percentages, and maximise profit margins for successful project delivery.

Explore our project cost management software

Key features and benefits of project cost tracking system

Project cost accounting software helps you manage complex project structures and cash flow forecasting through faster billing and more accurate expense tracking. It allows configurable cost categorisation and allocation, giving you tailored insights for your project while streamlining approval workflows.

Easily handle complex project costing and billing processes

Tracking project costs across labour, materials and equipment is time-consuming and becomes increasingly difficult as projects grow and evolve. This can lead to cost overruns and delays in client billing. Project billing software automates data entry and consolidation, integrating various cost factors into a single platform. It facilitates real-time budget tracking, cost analysis, and forecasting, keeping you on top of your project finances at all times.

Tailor project cost management software to your specific business needs

A one-size-fits-all approach often leads to inconsistent data tracking and cumbersome workarounds in project management. This in turn can result in ill-informed decisions and eat into your bottom line. Our project cost tracking software is fully configurable, allowing you to tailor it to your specific workflows, reporting standards and hierarchies. It's also highly flexible, with the ability to adapt as your business and project needs change.

Automate invoicing and billing for faster payments and improved cash flow

The multi-party nature of projects increases the potential for invoicing bottlenecks, calculation errors and inefficient follow-ups on outstanding invoices. Automated time billing capabilities include integrated time and expense tracking, making sure that your billing is based on actual costs incurred. Configure project milestones or completion thresholds to trigger billing schedules for faster payment cycles.

Improve profit margins by basing project costing on accurate data

Out-of-phase project cost updates can get in the way of effectively identifying and addressing budget overruns, resource inefficiencies or pricing misalignments. Project management costing software gives you real-time visibility into expenses, generating earned value analyses and flagging variances early on. As a project managers, this gives you the tools you need to take corrective action, such as reallocating resources or renegotiating contracts.

Who can benefit from our cost management software?

Our solution is ideal for smaller and growing businesses, looking to boost operational efficiency and get better visibility into project costs.

  • Optimised cost control: Monitor project expenses, automate budgeting, and prevent cost overruns to maintain your financial health.
  • Increased efficiency: Automate repetitive tasks like expense tracking and invoicing, minimising human error and saving time.
  • Scalable growth: Whether managing a single project or multiple initiatives, our software scales with your business, adapting to new challenges seamlessly.
  • Improved client satisfaction: Keep clients happy and build trust with timely project delivery and effective project cost management.

Our software is designed to meet the needs of medium-sized enterprises with powerful features, seamless integrations, and flexible customisation options.

  • Centralised project cost management: Our system provides centralised tracking of project expenses across multiple departments, ensuring accurate reporting and seamless operations.
  • Advanced reporting: Access in-depth insights into project performance, cost trends, and profitability metrics to drive strategic decisions.
  • Robust security: Protect sensitive financial data with advanced security features, including user permissions and encrypted access.
  • Workflow optimisation: Leverage powerful tools to reduce inefficiencies, manage complex projects, and monitor budgets effectively.

Our software caters to the unique project cost management needs of various industries, offering tailored functionalities that drive success.

  • Construction: Manage labour, materials, and equipment costs with precision, making sure projects stay within budget and on schedule.
  • Professional services: Track billable hours, manage project expenses, and streamline invoicing to enhance profitability and client satisfaction.
  • Manufacturing: Oversee production costs, allocate resources efficiently, and stay in control of project budgets to keep your manufacturing processes cost-effective.
  • IT and software development: Monitor development costs, manage resource allocation, and make sure projects are delivered within budget and scope.

Explore our project cost management software

Sage Intacct
Sage Intacct icon

Sage Intacct

Leverage this smart cloud accounting and ERP solution to unleash the potential of your business. Learn why industry leaders choose Sage Intacct.

Across all industries, Sage Intacct customers achieve an average of:

  • 250% ROI
  • 6 months payback
  • 79% close time reduction
  • 65% productivity improvement

Rated #1 in customer satisfaction by G2.

Discover Sage Intacct
Sage Intacct

Sage Intacct Construction

Our native-cloud construction accounting software is built to the handle specific needs of contractors and real estate developers.

  • Reduce average month-end close by 25-50%
  • Automate and improve AP/AR processes with 20-40% in efficiency gains
  • Get real-time visibility and insights with continuous consolidation of multiple entities and locations
  • Empower your finance team to spend 25-75% more time on analysis and business strategy
  • Integrate the solutions you already use with an open API
Discover Sage Intacct Construction

Natalie Bonczek

Controller, Red Door Interactive

"One of our top priorities in choosing a new financial management solution was its project management functionality. We wanted a better experience for employees—starting with improved timesheet entry and streamlined multilevel approvals, all the way to the back end of accessing project-based data. We decided to go with Sage Intacct because we loved its user interface, the ease of navigation between modules, and its data accessibility through web services APIs"

Project cost management FAQs

Software for managing project costs is a set of solutions designed to tackle the complexities and variability of commercial projects by tracking real-time expenditures against the budget, highlighting deviations and forecasting future financial scenarios.

The software will help you effectively evaluate factors such as labour costs, material expenses, equipment usage and subcontractor invoices. It uses this information to conduct analyses and monitor financial performance throughout your project lifecycle.

Advanced features include earned value management, cash flow forecasting and profitability analysis, as well as project billing and revenue recognition based on percent completion.

Real-time dashboards and customisable reports give you visibility into project financials, empowering you to manage cost control proactively and make better informed decisions.

Project cost tracking software provide granular analyses that give you complete visibility and control over your project financials. The resulting reports can include:

  • Cost tracking and analysis: actual costs incurred across labour, materials and equipment, broken down by project, task, cost code, and other variables.
  • Profitability reports: assessments such as earned value analysis, percent complete calculations, and comparisons of costs vs. revenue.
  • Resource utilisation: reports on resource allocation, productivity, and billable utilisation rates help optimise staffing and equipment deployment.
  • Budget and forecast reporting: track budget consumption, forecast costs-to-complete, and revenue projections based on project progress and billing.
  • Client billing and revenue recognition: automated invoice generation, billing schedules, and revenue recognition tied to project milestones. Insights into outstanding receivables and project revenues.
  • Compliance reporting: audit trails, documentation and reports aligned with industry-specific regulations and accounting standards.
     

Project management costing software is primarily focused on the estimation and tracking of project costs. It's tailored to businesses like construction, engineering, IT services, and professional services.

Project accounting software, on the other hand, provides a broader view of finances, integrating cost management with other financial aspects like revenue recognition and billing.

A project cost tracking system includes tools for real-time cost monitoring, earned value management, and profitability analysis specific to projects, whereas project accounting solutions support the complete financial lifecycle of a venture, from budgeting and expense tracking to invoicing clients.

Project accounting includes general ledger, accounts payable, accounts receivable, payroll, and financial reporting functionalities. It's particularly important for businesses that need to align their project work with general accounting standards and practices, including compliance with GAAP or IFRS.

Our online cost management and project billing software provides a comprehensive solution for managing project finances effectively and efficiently.

By hosting data in the cloud, allowing real-time access to project information from any location, these tools offer scalable and cost-effective options that simplify and boost collaboration among teams. Automatic updates means the latest features and security measures are always in place.

Our solutions make it easy for you to track time, materials, and costs, while giving you real-time visibility into key metrics and consolidated reporting across multiple entities. Automated workflows and insightful dashboards streamline project accounting tasks, improving decision-making and keeping projects on budget.

Additionally, easy access to project data facilitates quick responses to clients and superior customer service. Real-time, actionable insights support more accurate bidding and effective project cost management, boosting your profitability.

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