Contract Costing
TMS Contract Costing provides a powerful, comprehensive solution for managing the financial and commercial aspects of your contracts. Designed to give businesses greater visibility, control and confidence, it brings together everything from sub-contractor and main contractor administration to budgeting, purchasing, valuations, invoicing and final billing.
With all your essential contract information in one central system, you can monitor committed costs, actual expenditure, anticipated costs and projected profitability, helping you identify issues early and make informed decisions throughout the life of a project.
Complete Contract Cost Control
TMS Contract Costing supports the full commercial lifecycle, from initial budgets through to final billing.
- Create and manage budgets
- Track committed, actual and anticipated costs
- Manage supplier and sub-contractor commitments
- Monitor expenditure against budgets and project value
- Track profitability and financial performance
Valuations & Payments
Simplify valuations and applications for payment while maintaining a clear audit trail of financial activity.
- Record and track work completed and valuations
- Manage sub-contractor and main contractor processes
- Process payments and receipts
- Track retentions and outstanding amounts
- Reduce reliance on spreadsheets and manual processes
Cashflow & Financial Visibility
Monitor payments, receipts, retentions and cashflow directly within the system.
- Track expected and actual income and expenditure
- Improve cashflow forecasting
- Monitor retentions throughout the project
- Understand current and projected financial positions
- Identify potential financial issues earlier
Powerful Reporting
Access clear, up-to-date management information to understand contract performance and support better commercial decisions.
- Compare actual costs against budgets
- Review financial commitments
- Monitor profitability and variances
- Identify trends and potential issues
- Analyse information at transaction or management level
One Reliable Source of Information
By bringing budgeting, purchasing, cost control, valuations, billing, payments, receipts, retentions, cashflow and reporting together, TMS Contract Costing provides a single source of reliable contract information.
This helps businesses:
- Reduce duplication and administration
- Improve data accuracy
- Keep teams working from the same information
- Improve collaboration between commercial, finance and project teams
- Increase efficiency and financial control
Despite its extensive functionality, TMS Contract Costing is designed with ease of use in mind, making it suitable for managing everything from individual contracts to large project portfolios.
- On-premise installation
- Secure cloud hosting directly with TMS
Both options provide the same comprehensive functionality, backed by a dedicated team of TMS product specialists. From implementation and onboarding through to ongoing support, our team is available to help you get the most from the system.
For more information, please see our Hosting and Support pages
With TMS Contract Costing, you have the tools to take control of every financial aspect of your construction contracts—helping you improve visibility, strengthen cost control, manage cashflow more effectively and make better-informed decisions throughout every stage of every project