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CostTracker Review

CostTracker
Our score: 8.0 User satisfaction: 100%

What is CostTracker?

CostTracker is a web-based purchase order software that delivers the automation, transparency, efficiency, and accuracy needed by SMEs and teams to monitor and manage budgets, costs, and purchases with confidence. The software removes your reliance on time-consuming and error-prone manual processes that use papers, Excel spreadsheets, or ready-made tools. This way, you’ll be able to have complete control over your company’s spending, streamline your purchasing processes, and improve profitability. 

CostTracker allows you to set up your budgets within its system, track their status in real-time, and access all the relevant transaction information and details you need. The purchase order software, moreover, enables you to automatically match and synchronize data between invoices, delivery confirmations, and purchase orders. This helps you quickly identify discrepancies and avoid making incorrect payments.  

With CostTracker, you can implement hassle-free purchasing processes. It lets you set up and apply a digital approval workflow wherein purchase requests are routed to the right individuals based on budget amounts, user roles, and approval rights. You can also create professional purchase orders using customizable templates, send approved purchase orders to suppliers instantly, and view a complete purchase order history. 

Overview of CostTracker Benefits

Real-Time Budget & Cost Control

Regardless of what company, business, or team you’re managing, CostTracker helps you gain complete control over your committed spending. The software enables you to track and manage your budgets and costs in real-time so you can prevent experiencing cost overruns and getting low-profit margins. It offers a smart and flexible budget module that permits you to easily set up your budgets and divide them into different budget categories.

You can assign costs to the right budgets and monitor the status of budgets. For instance, you’ll be able to find out how much money related to purchase orders is committed, invoiced, and remaining on a budget. Additionally, the module allows you to view all the relevant information and details you need down to the individual transaction level. 

Automatic Matching & Synchronization

CostTracker can be implemented as an integrated solution that seamlessly works with your cloud-based accounting system. Data is synchronized between the purchase order software and your accounting system. This enables you to apply a 3-way matching process which is useful in identifying and solving payment-related discrepancies. In this process, CostTracker automatically compares the invoice and delivery confirmation data from your accounting system against the purchase order data found in its system. 

As a result, you’ll be able to immediately discover discrepancies, such as receiving fraudulent or inaccurate invoices or incomplete, wrong, or faulty goods. If there is a discrepancy between an invoice and the purchase order related to it, the software instantly applies the necessary adjustment to prevent you from sending an incorrect payment. 

Digital Purchasing Process

The software removes your frustrations when it comes to managing purchases in your company or team. Instead of relying on papers, Excel spreadsheets, and emails for creating and sending purchase requests and purchase orders, CostTracker permits you to implement digital purchasing processes. This way, you can save more time and money and improve accuracy.

CostTracker allows you to configure your own purchase request approval workflow. Thus, you can define who should create and approve purchase requests and what budget amounts require approval. Purchase requests are automatically routed based on your configurations. Multiple individuals can approve the same purchase requests and leave their comments as well. 

The software, moreover, makes it easy for you to create and handle purchase orders. You can use its built-in templates to create purchase orders. These templates can be customized like adding your own company logo and info and custom data fields. CostTracker also lets you reuse previous purchase orders, add documents to purchase orders and organize all information about purchases in one place.

Overview of CostTracker Features

  • Budget Module
  • Real-Time Cost Tracking
  • Accounting Integration
  • 3-Way Matching
  • Data Synchronization
  • Purchase Approval Workflow
  • Automatic Request Routing
  • Purchase Orders
  • Purchase Order History

Awards & Quality Certificates

An award given to products that have recently entered the market but are already becoming very popular
This certificate is granted to products that offer especially good user experience. We evaluate how easy it is to start using the product and how well-designed its interface and features are to facilitate the work process.

CostTracker Position In Our Categories

Since companies have specific business needs, it is only rational they steer clear of getting an all-in-one, ideal solution. Be that as it may, it is nearly futile to try to discover such a software solution even among popular software solutions. The clever thing to do is to narrow down the varied significant functions that necessitate analysis like essential features, costing, skill competence of staff, business size, etc. Next, you should do your product research exhaustively. Read these CostTracker reviews and look over the other software systems in your shortlist more closely. Such comprehensive research ascertains you take out mismatched apps and pay for the one that meets all the function you require company requires to realize efficiency.

Position of CostTracker in our main categories:

TOP 50

CostTracker is one of the top 50 Procurement Software products

CostTracker is also listed in the following subcategories:

Since each organization has specific business requirements, it is advisable for them to desist from seeking a one-size-fits-all faultless software solution. Needless to say, it would be useless to try to find such an app even among market-leading software solutions. The smart thing to do would be to jot down the various vital factors that need consideration such as required features, finances, skill levels of workers, company size etc. Then, you should do your groundwork thoroughly. Read some CostTracker Expenses Management Software reviews and look into each of the other systems in your shortlist in detail. Such comprehensive homework can make sure you weed out ill-fitting platforms and select the solution that presents all the features you require for business success.

How Much Does CostTracker Cost?

CostTracker Pricing Plans:

Free Trial

Basic

$139/month

Plus

$229/month

Gold

$329/month

Diamond

$549/month

CostTracker offers four enterprise pricing packages. Check the following subscription details, and select the right package for your organization.

Basic – $139/month

  • 1-5 Users
  • Budget Module
  • Purchase Approval Workflow
  • Full Support
  • Unlimited Purchase Orders
  • Accounting Integration

Plus – $229/month

  • 5-9 Users
  • All features in Basic

Gold – $329/month

  • 10-19 Users
  • All features in Basic

Diamond – $549/month

  • 20-50 Users
  • All features in Basic

User Satisfaction

Positive Social Media Mentions 23
Negative Social Media Mentions 0

We realize that when you make a decision to buy Expenses Management Software it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and CostTracker reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with CostTracker. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

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Technical details

Devices Supported

  • Web-based

Deployment

  • Cloud Hosted

Language Support

  • English

Pricing Model

  • Monthly payment

Customer Types

  • Small Business
  • Medium Business

What Support Does This Vendor Offer?

  • email
  • phone
  • live support
  • training
  • tickets

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What are CostTracker pricing details?

CostTracker Pricing Plans:

Free Trial

Basic

$139/month

Plus

$229/month

Gold

$329/month

Diamond

$549/month

CostTracker offers four enterprise pricing packages. Check the following subscription details, and select the right package for your organization.

Basic – $139/month

  • 1-5 Users
  • Budget Module
  • Purchase Approval Workflow
  • Full Support
  • Unlimited Purchase Orders
  • Accounting Integration

Plus – $229/month

  • 5-9 Users
  • All features in Basic

Gold – $329/month

  • 10-19 Users
  • All features in Basic

Diamond – $549/month

  • 20-50 Users
  • All features in Basic

What integrations are available for CostTracker?

CostTracker integrates with cloud-based accounting systems.

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Reviewed By Louie Andre
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