Cost management

Effective cost management directly contributes to improving your company's profitability. Managing your costs and knowing exactly where, how, and when they were incurred gives you the edge to offer competitive prices for your products or services. Redback’s cost management features give you the surgical precision to carefully monitor and control your actuals.

Stick to budget—always

Use Redback to compare your actuals to the work performed so you can analyze the success and milestones of your executed plans and strategies. In doing so, you’ll be able to accurately measure the efficiency and effectiveness of individuals, teams, or even entire projects.

With Redback’s cost management features you’ll be able to:

Create resource plans and associate rates to each work item
Develop expenditure baselines and have Redback monitor them if they change
Link potential cost fluctuations to automated contingency plans

Stay on top of variations

Let Redback monitor any excess spending tolerances so you can maintain ongoing fiscal discipline across your organization. Should these excesses occur, Redback will flag them and create variations that require predetermined approvals.

This oversight enables you identify and address potential areas of overspending before they become significant issues. With Redback’s cost management features you’ll be able to:

Track any exceeded expenditures automatically
Link any spending variations to an approval process
Identifying cost-saving opportunities.

Track spending in real time

See expenses as they happen, not months later when the invoices arrive. Redback captures the material used and the services received directly from the field, accounting for their costs immediately.

With Redback’s cost management features you’ll be able to:

Define rules to ensure the right expenses are flagged for review
Drive your payroll directly from labour time.
Study past spending patterns to infuse more precision into your budgets and resource plans