Tracecost

Real Time Construction Cost Tracking Software

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Tracecost® helps get updates from the team, produce key reports, raise triggers and alerts when problems are detected. We can now unobtrusively collect metadata and look at how team members do their jobs. A lot of predictions can be made by analyzing the habits, the communication, the focus, the time spent on task, and other attributes of the person responsible for doing the work.
Tracecost

Screenshot & Video

1/3

LICENSING & DEPLOYMENT

  • Cloud Hosted
  • Web-based
  • Android

SUPPORT

  • Phone

Knowledge Base

  • Help Guides
  • Video Guides
  • Blogs
  • Infographics

Tracecost Core Features

Construction Management

  • Budget Tracking
  • Change Orders
  • Contract Management
  • Contractors
  • Customer Management
  • Equipment Tracking
  • Incident Reporting
  • Project Management
  • RFI & Submittals
  • Subcontractor Management

Tracecost Executive Interview

Prabh Paul Parmar
Prabh Paul Parmar
CEO, Tracecost
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Kindly share your feedback on how GoodFirms has been doing so far in increasing your visibility among potential clients.

This would be the first time we would work with Good Firms. Therefore we will be able to answer this question at a future date.

Please introduce your product and give a brief about your role within the organization.

Prabh Paul, CEO, leading strategy/innovation of Tracecost, is highly analytical, entrepreneurial leader who specializes in driving growth for global brands who are expanding infrastructure. He is a thought partner who facilitates Board alignment to deliver business results. He takes pride in being an exceptional people-focused executive who builds inspired, high performing teams and a culture of executional excellence.

He is responsible for tackling the challenge of driving operational excellence while balancing optimal amount of process, reporting and structure to deliver the right outcome every time. Paul also brings extensive experience managing and delivering infrastructure projects with improved process and value maximization. 

Born in Kuwait, presently a multi-hyphenate design professional in Canada. Qualified as an architect, he was recognized for excellence in architectural studies in India. He soon became partner at ANP Group, adding many other verticals, diversifying the group portfolio. 

Paul has global exposure with infrastructure projects delivered across many countries including China, North America, Nigeria, India, Afghanistan and Philippines. 

Global brands such as P&G, Nissan, EY, NEC Technologies, Siemens, Huawei, Bosch, Credit Suisse, Blackrock, Marriott, BCG, Hinduja, HP, Walmart, KPMG, Renault and many ministries of Indian Government has been his customers. 

Tracecost vision is  To create a Tech platform for the infrastructure industry to improve the world communities.

What was the objective behind coming up with this software?

The objective behind construction management software is to enhance and optimize various aspects of construction project management. The software is designed to streamline and automate processes, improve communication and collaboration, increase efficiency, and reduce costs and errors. Here are some key objectives of construction management software:

Project Planning and Scheduling: Construction management software aims to assist in creating comprehensive project plans and schedules. It helps with task allocation, resource management, and timeline tracking, ensuring projects stay on track and within deadlines.

Document Control and Collaboration: Construction projects involve handling numerous documents, including blueprints, contracts, and permits. The software facilitates centralized document management, version control, and secure sharing, enabling efficient collaboration among team members, contractors, and stakeholders.

Cost Estimation and Budgeting: Construction management software assists in accurate cost estimation, budget creation, and cost tracking throughout the project lifecycle. It helps identify potential cost overruns, analyze expenses, and make informed decisions to maintain financial control.

Communication and Reporting: Effective communication is crucial in construction projects. The software provides channels for real-time communication, task assignment, and progress updates. It also generates customizable reports and analytics, offering insights into project performance, milestones, and potential issues.

Resource and Equipment Management: Construction management software helps optimize resource allocation, such as labor, equipment, and materials, by efficiently scheduling and tracking their usage. It minimizes downtime, reduces wastage, and improves resource utilization.

Risk Management: The software aids in identifying and managing risks associated with construction projects. It allows for proactive risk assessment, mitigation planning, and tracking, ensuring potential issues are addressed promptly to minimize project disruptions.

Overall, the objective of construction management software is to streamline processes, improve collaboration, enhance project visibility, and deliver projects on time, within budget, and to the desired quality standards. It aims to increase productivity, reduce manual errors, and improve overall project management efficiency in the construction industry.

How is your software beneficial from a value addition perspective to the clients compared to other software alternatives available in the market?

Comprehensive Feature Set: Tracecost features provide a holistic solution, covering various aspects such as project planning, scheduling, document management, cost estimation, and more.

User-Friendly Interface: Tracecost has an intuitive and user-friendly interface, it can significantly enhance the user experience. Clients may find it easier to navigate, adopt, and integrate into their existing workflows compared to more complex or less intuitive alternatives.

Customization and Scalability: Tracecost can be tailored to meet the unique requirements of different construction projects and accommodate the specific workflows of individual clients. Flexibility and scalability are valuable features that allow clients to adapt the software as their project demands evolve.

Integration Capabilities: Tracecost can seamlessly integrate with other commonly used tools or systems in the construction industry, such as accounting software, BIM software, or project management platforms, it adds value by reducing data silos and improving overall efficiency.

Mobile Accessibility: Tracecost offers mobile applications or a responsive design, it enables clients to access and manage project information on-the-go. This flexibility can enhance collaboration, decision-making, and overall productivity.

Data Analytics and Reporting: Tracecost  provides robust data analytics and reporting capabilities, enabling clients to gain actionable insights into project performance, resource utilization, cost analysis, and more. Effective data visualization and reporting can empower clients to make informed decisions and drive continuous improvement.

Customer Support and Training: The quality of customer support and training programs offered by Tracecost. Demonstrating a commitment to assisting clients in adopting and maximizing the software's potential can be a significant value-add.

What industries do you generally cater to? Which industries in general are highly benefiting by using your software?

Infrastructure, Construction, Real Estate Owners and Manufacturers.

What are the key features of your software that makes it stand apart from your competitor products in the market?

Comprehensive Feature Set: Tracecost features provide a holistic solution, covering various aspects such as project planning, scheduling, document management, cost estimation, and more.

User-Friendly Interface: Tracecost has an intuitive and user-friendly interface, it can significantly enhance the user experience. Clients may find it easier to navigate, adopt, and integrate into their existing workflows compared to more complex or less intuitive alternatives.

Customization and Scalability: Tracecost can be tailored to meet the unique requirements of different construction projects and accommodate the specific workflows of individual clients. Flexibility and scalability are valuable features that allow clients to adapt the software as their project demands evolve.

Integration Capabilities: Tracecost can seamlessly integrate with other commonly used tools or systems in the construction industry, such as accounting software, BIM software, or project management platforms, it adds value by reducing data silos and improving overall efficiency.

Mobile Accessibility: Tracecost offers mobile applications or a responsive design, it enables clients to access and manage project information on-the-go. This flexibility can enhance collaboration, decision-making, and overall productivity.

Data Analytics and Reporting: Tracecost  provides robust data analytics and reporting capabilities, enabling clients to gain actionable insights into project performance, resource utilization, cost analysis, and more. Effective data visualization and reporting can empower clients to make informed decisions and drive continuous improvement.

Customer Support and Training: The quality of customer support and training programs offered by Tracecost. Demonstrating a commitment to assisting clients in adopting and maximizing the software's potential can be a significant value-add.

What is the customer satisfaction rate according to you? What steps do you take to cater to your customer’s needs and requirements?

We have zero churn of customers.

Are your customers repetitive? If yes, what is the percentage of repeat customers that you have?

Yes!, 60%

Does your software product provide any resource or knowledge section for its users? If yes, what kind of material is provided to your users to help them get acquainted with your product?

We have Videos, Documents and hands on training.

What kind of support system do you offer to your clients for catering to their queries and issues?

ITSM platform for raising queries and tickets.

What has been the revenue for your product for 2022?
$2M
Where do you see your product in the next 10 years?

To be known as the New Age and Standard software for the industry

Tracecost Pricing

Pricing Type

  • Contact Vendor

Free Version

  • No

Payment Frequency

  • Quote Based

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