Costlocker is a cloud platform that enables users to monitor, analyze and better manage project costs. Agencies and companies need a complete and accurate overview of profits, costs, revenues and invoicing for their client projects. However, it is difficult to obtain if they are using only spreadsheets, timesheets or other simple time tracking tools. It takes them a lot more time than necessary. Now, they can monitor all these information in one place and in real time, thereby controlling their businesses’ performance more efficiently.
Features, Benefits, Strengths
- Project and Activity management – Costlocker financial project management software provides a comprehensive set of business information. For example, users can find out a project’s estimated and actual project profit. Other information available are revenue, lost revenue, costs, discount, remaining budget, expenses, and more. The software can also manage fixed price projects, recurring projects, billing records, budgeting and reporting. Aside from projects, users can monitor activity performance from indicators such as profit, profit margin, revenue, lost revenue and costs. They can also compare the performance of different activities or projects.
- People and Clients monitoring – This online tool can easily show which employee or resource earns the most. Personnel performance can be monitored from indicators such as profits, revenues, cost, untracked hours cost and others. Reporting features help in comparing the performance of employees and contractors. Other features include job costing, time tracking, workload, billable/non-billable hours and timesheet. Alerts can be activated for people who have exceeded a certain percentage of their project estimates. In the same manner, it can also monitor client performance in terms of profitability, client activity performance, manage client rates and generate comparative reports. Thus, users can easily see which client pays off well.
- Company Performance, Integrations and more – Costlocker provides users with a dashboard that shows an overview of financial metrics of projects. It can also show cash flow overview of all costs and revenues for individual months. Other features are billing outlook, company overheads and workload. Users can instantly see what people are currently working on and provide alerts for exceeding estimates. Timesheets can be exported to Excel.
Costlocker provides a simple pricing plan. A free 30-day trial period is also offered.
Social Network Presence
Costlocker financial project management platform is ideal for agencies, digital development, professional service companies and other small to medium-sized businesses whether for billiable client projects or cost-saving internal projects. It is valuable to business owners, project managers, and other business managers. It can also help companies that employ both in-house staff and external contractors.
Some of their Clients
Clients include Mobile Internet, Etnetera Motion, Inspiro, Remembership, Effectix, Mustard, Striker, Story TLRS, and Bistro.
Charlotte McMurray stated that Costlocker helps them get a better commercial understanding of their work as well as helps people think how they spend their time.
Robert Haas described a previous problem where their company is fully occupied but profit was not growing. Now, they have a tool that helps them keep an eye on what may be causing the problem.
Costlocker is a productivity tool that can provide important financial metrics to make sure that all resources, efforts, and undertakings point toward the profitability and growth of the company. It can show which projects are worthwhile to take and which are not, as well as which resources are providing the most help.
Costlocker SE is a private company with headquarters in Prague, Czech Republic. It was founded in 2012 by Tomas Wojcik and Kamil Skramusky, who are also the managers of an award-winning strategic digital agency specializing in web design and digital experience. They were looking for a simple and affordable tool that would help them track and analyze the costs of work hours. They did not find any so they created the financial project management platform. In 2013, the tool went in beta testing, and in November 27, they announced the launch of the application. Today, more than 1000 agencies around the world are using Costlocker.
Explore Additional Project Management Resources
Learn more about project management by exploring the following project management software reviews & project management software comparisons including Monday.com vs Jira, Monday.com software review, Aha! Software or Agile vs Waterfall.
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