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Engineering teams need to be cost efficient yet innovative to be successful. Projects are often complicated and can run over a long period of time and include multiple procurements. With many stakeholders in the projects the need for efficient tools increase.
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Typical challenges that engineering teams encounter are:
Long lead-time on purchases, making cost control difficult
Ensure accurate orders delivered in time with project milestones (avoid liquidated damages)
Difficult to keep track on total cost in project (project accounting)
Hard to estimate the project’s cash flow
Data from multiple fragmented data sources need to be manually consolidated
CostTracker has proved to be a valuable tool for engineering teams where procurement is part of their project.
Our clients within the engineering industry highlight these points as important for them
All procurement processes in one tool – from planning to invoice processing
You achieve real-time cost control
Cash flow forecasting is no longer a challenge
You have a one-stop-shop for important project information
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