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ToolWatch Tracks Job Costs and Generates Billing Charges with Latest Software Version
Enterprise 2.0 Tool-Tracking System Offers Powerful New Features
DENVER, COLO., May 28, 2009— ToolWatch, the construction industry’s first tool tracking system provider, added a new module to its Enterprise 2.0 software to automate the tracking and billing of tools, materials and consumables. This added feature will increase project profitability and generate accurate and detailed billing information for customers.
ToolWatch provides software for managing tools, equipment and materials both in the warehouse and on site to construction organizations of all sizes. Its Enterprise software manages tool, equipment and materials to improve construction processes and boost companies’ bottom lines. The easy-to-use job cost and billing module maximizes control over company resources including loss prevention.
ToolWatch Enterprise job cost and billing module provides these key features:
- Highly configurable to match project contract requirements with internal job cost and billing processes
- Concurrently tracks job cost and generates billing charges for each individual project
- Automated usage billing for tools and equipment based on the length of time, such as hourly, daily, weekly, and monthly, used on a project
- Unlimited number of tool and material rate sheets to accommodate specific contract situations
- Rate sheet attributes such as return credit, minimum charge, maximum charge, idle time, maintenance rate, etc. provide complete control of charges for each item
- Interface to existing accounting systems, reducing errors by integrating at the job-cost or general-ledger level
"Remaining profitable in today’s construction industry continues to be a challenge given ever-tightening project margins. Effective management of construction resources like tools, equipment and materials will ensure continued business success," said Don Kafka, ToolWatch president and chief executive officer. "Our new module will help our customers simplify their accounting processes and improve their return on investment."
About ToolWatch Corporation
Founded in 1991, ToolWatch is the world's leading provider of tool, equipment, materials and consumables management systems. Combining easy-to-use ToolWatch data collection devices with a powerful database system, its technology enables the tracking and management of construction resources throughout an entire organization, delivering significant savings of both time and money to companies of all sizes. With more than 6,000 installations in 20 countries around the world, ToolWatch applications use the most current and reliable technology to manage assets for maximum utilization and productivity throughout an organization.
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