The startup offers an online financial tool that centralizes the management of costs associated with construction projects, including initial quotes, change orders, allowances, and monthly billing. This platform enables businesses to effectively track and maintain financial data throughout the project lifecycle, from award to closeout, reducing the risk of budget overruns and improving financial transparency.
Funding
$980K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Construction projects often suffer from fragmented financial tracking, leading to budget overruns and a lack of transparency. Managing costs across various stages, from initial estimates to change orders and monthly billing, can be cumbersome and prone to errors when using traditional methods like spreadsheets and paper documents.
Solution
TracFlo offers a cloud-based platform designed to centralize and streamline construction project cost management, providing enhanced visibility and control over project financials. The platform enables users to create, track, and manage all project-related costs, including initial estimates, change orders, allowances, and monthly billing, within a single, integrated system. By digitizing and automating these processes, TracFlo reduces the risk of budget overruns, improves financial transparency, and facilitates better communication among stakeholders. The mobile app allows field teams to submit daily reports with voice-to-invoice technology, photos, and notes, ensuring real-time updates and accurate data capture.
Target Audience
TracFlo targets general contractors and specialty contractors seeking to streamline project cost management, reduce financial risks, and improve collaboration between field and office teams.
Features
- Centralized dashboard for tracking change orders, estimates, and invoices across all projects
- Mobile app for field teams to submit daily reports with voice-to-text, photos, and videos
- Digital approvals for change orders with pre-approved labor and material rates
- Real-time cost tracking against estimates at each project phase
- Automated rate imports for labor, material, and equipment
- Integration with existing accounting and project management software via API
- Role-based access control and audit-ready documentation for compliance
- RFP generator for managing the cost and impact estimate process