Next Technology’s intuitive construction cost control software gives your teams full visibility over their expenses, allowing them to better track their spending.
Say goodbye to confusing spreadsheets. With so many projects all vying for your attention, you need a simple and automated way to navigate your finances.
Avoid overspending and protect your profits with real-time insights and intelligent tracking that ensures no cost is left unchecked.
Track every purchase order, budget, and invoice — inbound and outbound — in one clear view. Instantly see how spend is impacting your project, identify which jobs are profitable (and which aren’t), and avoid overspend with automatic cost forecasting. Stay in control from start to finish and protect your margins
Naturally, projects will evolve as new requirements emerge. But how can you prevent this from confusing your finances? Get a clear overview of how each change affects your budget and process variation orders quickly and smoothly, all within a single platform. Ensure a structured and consistent change process to keep an eye on the project’s financial health.
Chasing invoices and documenting payments is ordinarily a time-consuming, though essential, task. Cost management software streamlines this process, freeing up time for more valuable activities. Compile hours, machinery, and material costs in one place. Automatically invoice items into an editable invoice draft, including tax deduction support. Then, send invoices using the method of your choice and automatically record them in your accounting system.
Eliminate manual pre-work for budgeting and forecasting. Import budgets from your calculation tools and automatically update them as you track your progress and variation orders. Worried about overrunning? Integrate with your project overviews for complete financial monitoring.
Your teams can collaborate more easily with shared access to key project data. Stakeholders can easily view, approve, or reject invoices or variation orders together, making better-informed decisions by being on the same page. This clarity reduces the risk of miscommunication or costly mistakes.
The Next platform provides everything you need to manage your projects. Try the fastest, and most easy-to-use tool on the market today.
Tailored for the construction industry
Mobile and field-ready capabilities
Advanced analytics and reporting
Seamless integration and compatibility
Customisation and scalability
| Common Challenge | How We Solve It |
|---|---|
| Budget overruns due to poor visibility | Real-time project overviews and cost forecasting to flag overspend early |
| Manual data entry and human errors | Integration with budgeting tools and automated cost tracking to eliminate manual input |
| Disjointed financial data across tools | One centralised platform (a single point of truth) for all project financials |
| Reactive cost tracking instead of proactive planning | Smart forecasting tools that update with work progress and variations |
| Time lost chasing invoice status and approvals | Streamlined invoicing and payment tracking reduce admin time and automate cash flow |
“We love the ease of use in Next Project. It captures all information that we need to keep our projects within budget and on track. We also enjoy the level of support that we receive from Next; it’s incredible. It just has everything we need, and more!”
Cost control is just one piece of the project management puzzle, and at Next Technology, we make every aspect of your project tracking as simple and effective as possible. After all, companies that use modern business systems often experience a marked improvement in efficiency, grow faster and achieve higher margins.
Discover our full suite of solutions to help you manage your entire operational business.
Your all-in-one tool for managing day-to-day operations, including features such as:
Effective scheduling is vital to successful project completion. With Next Planning, you get both a project planning and worker scheduling app, making it easy to share schedules with colleagues, contractors, and clients. Since it’s a cloud-based construction scheduling tool, no installation is required. Just sign up, set up an account and start planning.
Construction is about teamwork. Spend less time on documentation and more on communication and collaboration. Get mobile inspections, task delegations, and report generation in the palm of your hand.
What is construction cost control?
Cost control, or management, is simply keeping close tabs on your expenses and ensuring they remain within budget throughout a project’s lifecycle. That is easier said than done, though. With so many costs and ever-changing requirements, maintaining control can soon get confusing.
Cost control usually begins with an estimate, where you understand a project’s requirements and calculate associated expenses to create a baseline budget.
Most people think this is where the work ends. But the reality is, as a project progresses, you regularly record, review, and adapt expenses as scope changes or unexpected costs emerge. Staying on top of all these fluctuations is demanding, but vital to ensure the project remains financially viable and budget restrictions are met.
Why is cost management important in construction?
Although the core of cost management is ensuring that projects stay within budget, there’s a lot more to it than that.
Firstly, the aim of any construction job is to maximise profitability. Effective cost control supports this aim by finding possibilities for cost savings, allocating resources efficiently, and reducing waste—all of which ultimately increase profit margins.
Second, risk mitigation is very important as projects are vulnerable to uncertainties, such as supply chain disruptions or scope changes, which can be costly. Good cost management reduces the impact of these risks by anticipating them. It provides opportunities to address concerns and guarantee project continuation proactively.
Lastly, cost management helps maintain client satisfaction and build lasting partnerships. Completing projects on time and within budget is critical to keeping customers happy. So, giving realistic estimates and keeping things on track despite shifting circumstances is game-changing.
Ultimately, cost management in construction isn’t just about calculating numbers; it’s about ensuring a project is sustainable and successful from start to finish.
How can construction project cost management software help?
Software for cost control in construction includes multiple tools which take all the usual complications and confusion out of managing project expenses.
Real-time visibility of financial data in easy-to-understand dashboards, for instance, enables faster, smarter decisions as teams no longer have to wait for reports or manually gathered data to inform their choices. All the information needed is at their fingertips.
This visibility also improves cash flow, as it’s clear when payments are due and what’s outstanding. This means every expense is processed on time, and there are no delays caused by funding gaps to halt a project’s progress.
Your clients are also more likely to trust your process and repeat their business if they have access to detailed, up-to-date financial tracking.
Having a consistent approach to budgets, changes, and payments through the use of one software will also help form better professional relationships with clients and between employees. It produces less variability and enforces best practices company-wide.
Who is construction cost tracking software for?
Cost control software for construction isn’t just for large-scale contractors. Anyone who needs to finish a construction project on time and within budget can benefit from it. You may be overseeing large sites or managing small residential builds; a cost management tool will simplify complex finances and bring clarity to your decisions.
Project managers can use the software to maintain visibility into their budgets, spending, and cash flow. It helps them make smarter decisions and avoid surprises with cost forecasting.
The benefits extend to contractors and subcontractors as well. They can stay on top of variation orders, material costs, and labour charges with accurate reporting and shared insights.
Finally, construction company owners should use a cost control tool to protect profits and reduce financial risk to scale their business sustainably.
How can I be sure that Next Technology’s software works for my business?
While we are confident that our solutions work effectively, no matter the job, we understand that it’s easier to understand the benefits when they’re seen in practice. That’s why we offer a demo to discuss your needs and walk you through how our tools could work for you. Let us show you how our solutions can help your projects.
Suite 1A, Carver’s Warehouse
77 Dale St
Manchester
M1 2HG
sales.uk@next-tech.com
Telephone: +44 33 02 32 01 30
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