Home News Industry News TraceCost is a new cloud-based solution for automation in construction management

    TraceCost is a new cloud-based solution for automation in construction management

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    construction management

    TraceCost is a “Made in India” cloud-based project management automation suite built specifically for the Indian construction industry. TraceCost was designed by Canadian-based project management technology company to reduce construction costs and inefficiencies.

    According to a recent McKinsey report, the global construction industry, worth $10.6 trillion in annual spends, loses about 10% to various inefficiencies. Large capital projects typically take 20% longer to finish and are up to 80% over budget.

    TraceCost is a tool aimed at addressing these issues. With its host of options, the tool site optimisation and as well as real-time cost tracking. Documentation, automation and quality control are amongst its features. The software is also infused with AI and machine learning to allow creation of schedules and reduce dependence on manual guesswork. All in all, it translates into a site that is more efficient, safer and off required standards.

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