TraceCost Inc., a Canada-headquartered project management technology company, has launched its flagship product – Tracecost, a ‘Made in India’ cloud-based project management automation suite built specifically for the Indian construction industry. Designed to reduce construction costs and inefficiencies, Tracecost optimizes construction project management along with offering real-time cost tracking. It enables end-to-end automation and documentation of the entire construction workflow, from design and documentation to equipment management and quality control.

The software uses advanced machine learning and artificial intelligence to allow creation of schedules and reduces dependence on manual guesswork. It also makes construction safer as it tracks and reports safety incidents across job sites.

Says Prabh Paul, Co-Founder and COO of Tracecost Inc., “Our goal for Tracecost is to reengineer and fundamentally improve the project management experience, both from an internal and client-facing perspective.”

Sunny Vohra, Co-Founder and CTO of Tracecost Inc. says, “Tracecost is a secure, robust and intuitive platform that streamlines a highly-complex process and allows construction or project management companies to reduce costs, prevent delays, and simultaneously provide full transparency to the owners as well as project managers.”

Tracecost is targeting various construction industry stakeholders as its customers, including private and public sector construction companies, banks and other lending organizations, and global realty project management firms. The suite is offered as Software as a Service (SaaS) and is accessible via desktop and mobile devices.

Adds Madhvi Walia, Co-founder and CEO of Tracecost Inc., “Automation and digitisation of the processes will help the construction industry reduce its dependency on traditional methods and make their management efficient, ultimately helping ensure that projects are both cost and time effective.”