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Project Profitability
& Cost Tracking

Stay on Track and Know the True Value of All Your Projects With ProWorkflow’s Profitability and Cost Tracking Software.

Stay on track financially with live project profitability tracking. Assign rates to tasks & record time for automated cost tracking. Try ProWorkflow now..

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Live profitability tracking

Stay up to date on your finances

Live project cost tracking helps you to monitor your finances at all times. Reports are generated right on the project page you’re working on, eliminating the need for separate documents.

  • Color coding makes it easier to identify project costs at a glance
  • Plan tasks and add a project budget to predict your profitability
  • Actual costs calculated by innovative profitability analysis software

Plug in your rates for accurate predictions

Enjoy a streamlined cost tracking process

Create a library of your labour rates, materials, and expenses. List fixed costs and potential costs and gain precise insights into project expenses while staying on budget.

  • Project management all in one place
  • Create your project costs library and assign profit margins
  • Easily select and assign labor rates to a task or an expense

Quote and invoice

Track costs at every project phase

With seamless workflow from quotes to invoices, tracking project costs is simple. As your project progresses, the cost tracker will reflect the financial changes and keep you informed.

    • Partially invoice a project as you go
    • Efficiently create projects directly from a quote
    • Client dashboard gives an overview of recent invoicing and quoting values

Seamlessly integrate with invoicing software

Compatible with Xero, MYOB and more

Our project cost tracking software syncs with the invoicing tools you’re already using. Enhance your workflow, avoid human errors and benefit from efficient project management.
  • Robust systems are designed to work with each other
  • Automatically pull client info, tax, and accounting codes
  • Two-way sync keeps invoices and total costs accurate and up to date.
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Interaction made easy

Supporting efficient, productive communication

Connect seamlessly with your team members, clients, and contractors in a single unified hub. Gain clarification on details when project planning, share updates and collaborate to deliver greatness.
  • Direct messaging and email notifications on task updates to keep work flowing
  • Users are notified by email when a message is sent in ProWorkflow
  • Fosters coordination, accountability and responsiveness
Learn more
Read about how ProWorkflow is enabling its customers to achieve more in their businesses with streamlined workflows

Frequently Asked Cost Tracking Questions

What is cost and budget tracking?
Project budget tracking monitors the actual costs of a project against the initial budget allocated. Businesses will forecast a cost estimation of a project, communicate it to clients, and then use a tracking tool to stay within the predicted budget. Project profitability management software compares the estimated and actual costs, helping you to improve efficiencies when required.
Project time tracking software records the time spent on tasks using a combination of timers, manual entries, and integrations with payroll or project management systems. ProWorkflow offers both desktop and mobile time tracking, making it easy to track work hours from anywhere.
Time tracking apps are integral to business operations. They ensure you don’t overservice or underservice clients, which can lead to invoicing errors. Tracking data gives you a clear picture of where your time goes and what it costs, generating precise billable hours. Time tracking removes guesswork, encourages efficiency and ensures transparency in the workplace.
Yes, time trackers are effective for businesses when used to their full potential. They allow you to visualise project progress, manage costs and seamlessly carry out invoicing. Time trackers provide valuable insight into how long projects actually take, making it easy to adjust schedules and forecast timelines for future projects.
Your quote refers to the estimated costs that you forecasted for a project, while your actual costs are the true amount that was spent. Comparing the two figures helps you to understand if a project was profitable and highlights areas you underestimated. This can help you improve future quoting and planning.

Yes, you can track both time and costs with ProWorkflow thanks to our time tracking and project profitability tools, which work together to provide businesses with a robust project management solution. A live stopwatch, drag-and-drop time blocks, and manual time entries enable you to track billable and non-billable hours, while expense libraries and assignable rates give you an overview of the entire project’s expenses.

ProWorkflow’s project cost tracking tool allows project managers to set and adjust budgets. You can log hours worked by team members and assign hourly rates to users or roles to calculate labor costs. For better organization, manually add and categorize contingency costs and expenses within each project. Create quotes to estimate costs, generate invoices based on actual time and expense entries, and streamline your workflow with seamless accounting tool integration.
ProWorkflow is a user-friendly, all-in-one platform for project management and profit tracking. It stands out for its budgeting abilities, time tracking, and expense management. Detailed quotes, invoices, and cost reports keep project managers updated on all phases of the financial process while protecting sensitive information when needed. Seamless integration with accounting tools like Xero and QuickBooks eliminates the need for manual data entry and supports a streamlined process that prioritizes accuracy and efficiency.

Let’s talk streamlined workflow

Let’s talk financial reporting tools

ProWorkflow is ISO27001 certified and GDPR compliant.

We conduct more than 30,000 secure task, project and financial updates every day for over 5,000 companies. Your data is safe with us.

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