The 3 best cost control software tools

Cost control software tools aren’t always easy to select for organizations. Which one suits you best depends on your needs and requirements, but even if you know what you are looking for, there exist a lot of tools on the market to choose from. To help you out, let’s look at the three best cost control software available today.

Microsoft Excel

Microsoft Excel is one of the software packages that changes the way we work on large spreadsheets, share and analyze data. Because of its flexibility, it enables you to cover the basic functionality needed to initiate the above-mentioned practices. However, estimating with Microsoft Excel can also be the cause for many errors and mistakes because others can alter the spreadsheet without you knowing.

Therefore, for the more advanced processes and techniques that today’s businesses require, its most useful feature is the fact that almost every computer has got it installed per default. This means that even when stakeholders don’t share the same advanced software solutions, Excel can often act as a data carrier able to interface between tools and report information to third parties.

SAP

An enterprise cannot exist without a fully integrated ERP system like SAP. The system is highly suitable for business management and is backed by a multitude of other application providers.

A lot of project members are also using SAP for budgeting and cost control software, and for a good reason. The system provides readily available data and offers basic cost control functionalities.

However, the problem is that the system was not originally designed with this purpose in mind. The system displays data flatly without incorporating breakdown structures or activity-related cost objects. This makes it hard to trace costs and extract metrics.

Cleopatra Enterprise

Cleopatra Enterprise is a solution that offers cost management tools for the full project life cycle. It is the only available tool integrating cost estimating software, cost control and project analytics.

A strong feature is that Cleopatra Enterprise is developed together with expert cost engineers, who use Cleopatra on a consultancy basis: it is developed by and for cost engineers.

With Cleopatra you are able to seamlessly translate your final cost estimate into a suitable control document. When executing your project you can easily feedback actual project data into your estimating knowledgebase, establishing a continuous improvement cycle.

This cost control software enables you analyze estimates and cost control reports in detail to extract metrics, perform benchmarks, study project performance, and store cost data for future use.

As stated in the introduction, no cost control software solution will be the best choice for everyone. Make sure to analyze your needs and requirements first, before scanning the market for the solution that will deliver the most value to your organization.