Cost clarity and control through contracts administration
Knowledge is power, and this is never truer than in construction cost management. Better financial visibility and control can save businesses from the costly mistiming of outstanding payments.
iTWOcx Contracts Administration brings your project budget, contracts and payment information into one central database, enabling you to manage multiple project budgets together in real time.
Stay aware and in control of outstanding costs, manage payments smoothly and see the effects of variations at a glance.
iTWOcx Contracts Administration ultimately frees up your resources and improves productivity so you can administer more contracts.
Set and approve project budgets
Cost management can be streamlined with the right structure.
Using iTWOcx Contracts Administration you can create project budgets from your estimates, and add contracts against line items.
iTWOcx lets you break down costs into multiple line items and set contract securities such as retentions, giving you clear control over those crucial details.
Complete visibility on variations
You can manage various types of variations and see the real-time effects of both approved and unapproved variations on the budget, so you’ll never lose sight of cost change.
Manage claims and payments easily
Contractors can enter their claims directly into iTWOcx and upon approval, the system will automatically generate payment schedules and update your budget for effortless cost management and compliance.
Full audit history
Each line item in the budget has its own full audit history, where you can see all cost management activity such as progress claims, contract variations, payment certificates and budget transfers.
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