Last Updated
Overview
CostTracker provides comprehensive purchase order management to help businesses maintain real-time budget visibility and financial control. While customer support response time can be improved, its capability to track committed costs before invoicing and strategic focus on ease of use makes it a comprehensive choice for procurement handling.
Overall Rating
Based on 8 users reviews
4.6
Rating Distribution
Positive
100%
Neutral
0%
Negative
0%
Starting Price
$159
/month
CostTracker Specifications
- Accounts Payable
- Budgeting and Forecasting
- Cash Flow Management
- Invoice Management
What Is CostTracker?
CostTracker is a cloud-based purchase order system designed for small to medium-sized enterprises (SMEs) that require efficient financial oversight. The software bridges the gap between committed spending and actual invoicing, which allows project managers to see the impact of purchases immediately.
By offering features like digital requisition workflows and automated invoice matching, CostTracker software solves the pain point of invisible spend and budget overruns. It is particularly beneficial for project-based industries needing to secure margins through proactive cost management.
CostTracker Pricing
The CostTracker cost breakdown includes the following options:
- Basic: $159/month
- Plus: $275/month
- Gold: $409/month
- Diamond: $689/month
Disclaimer: The pricing is subject to change.
CostTracker Integrations
The software supports integration with multiple systems and platforms, such as:
- QuickBooks
- Xero accounting solution
- Sage
- 24SevenOffice
Who Is CostTracker For?
The software is ideal for a wide range of industries and sectors, including:
- Construction
- Engineering
- Non-profits
- Hospitality
- Maritime
Is CostTracker Right For You?
CostTracker is an excellent fit for project-based businesses struggling with budget adherence and delayed financial reporting. It tracks committed costs by giving finance teams visibility into liabilities at the moment a purchase order is approved, rather than waiting for the invoice. CostTracker ensures data protection through encrypted backups, multiple redundancies, and secure login protocols like multi-factor authentication.
Still unsure whether CostTracker software is the right fit for you? Connect with our customer support staff at (661) 384-7070 for further guidance.
CostTracker Features
Purchase Orders
CostTracker permits the creation and management of purchase orders using ready-made templates. These templates create clear agreements with suppliers and reduce the time spent on the purchasing process. The system handles order confirmations from suppliers and supports transactions involving multiple currencies.
Invoice Module
This feature oversees the complete process from purchasing an item to making the final payment within the platform. It manages the handling and approval of supplier invoices, featuring a vital 3-way matching function to ensure secure and correct payments. The module can easily transfer approved invoice transactions directly to the connected accounting system.
Real-time Budget Tracking
The platform provides immediate visibility into all spending by showing both committed expenses and purchases planned right when requests are approved. Instant information is critical for strict cost control, which allows fast decision-making and prevents spending from exceeding the budget. The system allows for budget monitoring and the setting of alerts for when spending limits are approached.
Cash Flow Forecasting
CostTracker software automatically calculates the cash flow forecast based on all current purchase commitments and related financial transactions. It supports detailed future spending predictions, which include live updates of exchange rates for transactions in foreign currencies and the management of payment milestones. Forecasts are viewable in reports, either by project or as a total for the entire business.
Purchase Planning
This feature is designed for project management that allows the upload of a full Purchase Plan or a Bill of Material (BOM) to start a new project. It gives budget estimates instantly, connects the plan to actual spending, and suggests order dates based on the supplier's expected delivery time. This functionality helps secure financial resources against a specific project goal for better oversight.
Pros And Cons of CostTracker
Pros
Fixed operational problems and increased efficiency
Makes the procurement process easy to manage
Allows for generating reports quickly for stakeholders
Allows sending professionally organized purchase orders
Gives access to project invoices instantly
Cons
Some usability features can feel a little unpolished
Can allow entering negative figures in a PO line item
Process flow from PO to Receive to Accounting can be more clear
Entering project data can feel repetitive
CostTracker Reviews
Total 8 reviews
4.6
All reviews are from verified customers
Rating Distribution
5
Stars63%
4
Stars38%
3
Stars0%
2
Stars0%
1
Stars0%
Share your experience
Construction, 1-10 employees
More than a year
“Love the budget visibility”
Pros
Having real time insight into our project budgets has been incredibly valuable for the business. We can see week by week what we've already spent and what commitments are coming up which makes planning much easier. The Xero integration is a big plus too since it saves us a ton of time by avoiding double entry of invoices.
Cons
A few parts of the usability still feel a bit clunky but the software is constantly being updated and improved.
Rating Distribution
Ease of use
9
Value for money
10
Customer Support
10
Functionality
10
Civil Engineering, 51-100 employees
Less than 6 months
“perfect fit for projects!”
Pros
The software has been an excellent match for the way we run our project-based operations. The interface is very user-friendly and it has really helped make our procurement process much more manageable.
Cons
There are no real issues at the moment though I would love to see a stores or inventory feature added so items could be recorded and issued out within the system.
Rating Distribution
Ease of use
10
Value for money
10
Customer Support
10
Functionality
9
Hospitality, 51-100 employees
Less than a year
“simple to adopt!”
Pros
Getting started with this software was easy and rolling it out across the business was just as manageable. On a daily basis it has been simple to use even for employees outside the finance team who also picked it up without much trouble.
Cons
There is nothing specific to complain about. Still we did not use all of the modules particularly Invoice and cash management.
Rating Distribution
Ease of use
9
Value for money
8
Customer Support
8
Functionality
7
Frequently Asked Questions
What other apps does CostTracker integrate with?
The platform integrates with various systems and software including QuickBooks, Xero, Sage, and 24SevenOffice.
Who are the typical users of CostTracker?
CostTracker features are designed for professionals in industries and sectors like hospitality, maritime, non-profits, construction, and engineering.
Does CostTracker have a mobile app?
Information regarding a dedicated mobile app has not been specified by the vendor.
What level of support does CostTracker offer?
The platform provides support through email, phone, chat, and a contact form.
What types of pricing plans does CostTracker offer?
The vendor offers four plans along with a 14-days free trial: Basic ($159/month), Plus ($275/month), Gold ($409/month), and Diamond ($689/month). Request a customized CostTracker price plan for your business today!
Does CostTracker offer an API?
Yes, the platform provides an API.
What language does CostTracker support?
The platform supports English and Norsk Bokmål.