ToolWatch wins Constructech Commercial Top Products award
Magazine taps Enterprise 2.0 Job Cost and Billing Module as a 2010 winner

DENVER, April 16, 2010 — ToolWatch Enterprise 2.0 Job Cost and Billing Module, the construction industry’s first tool tracking system provider, was given a Commercial Top Product award in the Constructech third annual competition for technology providers serving the construction industry. Winning products have a high rate of functionality, increase efficiency, and are competitively priced. ToolWatch is the construction industry’s first tool tracking system provider.

"We are delighted that our new Job Cost and Billing module has been selected for this award," said Don Kafka, CEO of ToolWatch. "Our Enterprise 2.0 software automates the tracking and billing of tools, materials and consumables, and this new feature generates accurate and detailed job cost and billing data, maximizing control over company resources."

The ToolWatch Enterprise 2.0 Job Cost and Billing Module automates job costing and billing for tools, materials and consumables throughout an entire construction organization. The new module lets users automatically charge customers, departments or projects for construction resources used by an individual, department or project. The module’s features include concurrent job cost and billing, automated fixed rate and usage billing, defining billing charges by cost center, comprehensive reporting and integration with existing accounting systems.

By improving the overall accounting process, the job cost and billing module simplifies construction companies’ accounting process, improves return on investment by tracking actual earned amounts and ultimately, increases project profitability. It dramatically improves accountability by creating financial incentives based on each project’s tool retention, thus encouraging tool and equipment returns and reducing employee hoarding.

Winning products are selected by the Constructech editorial team and are chosen for innovation and successful results in the marketplace. These products are selected based on the products description, the overall usefulness and uniqueness of the product to the construction industry, and the customer growth rate for the particular product throughout the past few years.