Construction budgeting software is vital to providing accurate estimates, ensuring the profitability of your business, and managing construction projects effectively.
While a spreadsheet might work when you’re doing your first few jobs, as soon as you grow to multiple concurrent projects you’ll find that system becomes unmanageable. At that point, construction budgeting software is your best solution.
To find the best construction budgeting software, we identified key features like cost estimation, budget tracking, and real-time reporting. Then we assessed user interfaces, integrations, and support, and spoke with industry professionals. This research helped us narrow down the list of the top construction budgeting tools.
Best Construction Budgeting Software
| Company | Overview | Best For |
|---|---|---|
| Buildertrend | Comprehensive construction management software with robust financial management tools | Larger Businesses |
| Buildxact | Easy-to-use and powerful construction budget software for businesses of all sizes | Small, Mid-Size, Enterprise Businesses |
| Procore | Collaborative real-time construction budget software to empower your team to make better decisions | Large Scale Builders |
| ProjectSight | Budget and cost management tool to help you reduce costs and boost profits | General Contractors, Subcontractors, and Engineers |
| BuildBook | Helps clients stay on top of construction costs related to home building and remodeling for improved financial outlooks | Home Building and Remodeling Teams |
| Raken | Real-time, on-site cost tracker for construction businesses of all sizes. | Small, Mid-Size, Enterprise Businesses |
1. Buildertrend
Buildertrend is a comprehensive construction management platform that equips modern construction businesses with all of the tools they need to track their expenses, manage their finances, and plan for the future with ease.
This cloud-based management platform focuses on all aspects of running a construction company, providing features that contractors need like seamless online payments, bid management, estimate support, and beyond.
Better yet, their focus on construction solutions lends itself to improved sales management, materials management, and project management, giving you everything you need to run your business effectively.
Buildertrend Features
- Excel integration
- Document management
- Change order and purchase order management
- Accurate estimate features
- Actual cost comparisons
- Job costing
- Cost coding
- Budgeting templates
- Custom Qualifiers
- Real-time reporting and analytics
- Online payments
Buildertrend Downsides
The only notable downside to Buildertrend is that it’s designed for larger general contractors who have already established their business and have equally large projects coming in.
Smaller contractors often find that the platform, despite its wealth of features, is not right for their businesses.
It’s also worth noting that many businesses are pleased with the budgeting aspects of Buildertrend but find the app or its other solutions (such as sales and marketing) difficult to use or not as effective as other construction software.
Buildertrend Pricing Plans
| Buildertrend Plan | Features | Monthly Cost |
|---|---|---|
| Essential | Scheduling, To-Do’s, Customer Portal, Proposals | $499 |
| Advanced | Advanced Estimating, Takeoff, Change Orders, Financial Management | $799 |
| Complete | Warranties, Request for Information, Selections, Reports | $1,099 |
2. Buildxact
Buildxact is a simple yet robust construction budgeting software designed for construction companies of all sizes.
Beyond accounting and invoicing support, Buildxact offers lead management, build management, and client management support to streamline your operations and make it easier to land jobs.
According to their website, the use of their software results in “80% takeoffs” and a “5x quicker quoting process.”
No matter what stage of your projects you’re in or who you are (contractor foreman, owner, etc.), Buildxact is there to support you from takeoff to invoicing.
Buildxact Features
- Lead tracking
- Digital takeoffs
- Accurate estimating software and templates
- Live dealer collaboration
- Seamless quoting
- In-platform scheduling
- Cost tracking
- Integration with Xero and QuickBooks
- Client Portal
Buildxact Downsides
Most contractors find that there’s a lack of customization or some issues using various features of the solution, which includes invoicing, takeoff, and accounting software integration.
That being said, most just want more features from Buildxact, even though they’re satisfied with how the construction budget software supports their needs.
Buildxact Pricing Plans
| Buildxact Plan | Features | Users | Monthly Cost |
|---|---|---|---|
| Entry | Digital takeoffs, pricing assistant, customizable quote builder, simple and fast estimating, free training and support | 1 | $133 |
| Pro | Job management, client portal, flexible invoicing, GANTT charts, purchase orders and change orders, accounting and app integrations | 2 | $222 |
| Teams | User access controls | 4 | $356 |
3. Procore
Procore is a popular all-in-one construction management platform that offers some equally impressive budgeting solutions.
Speaking specifically to the construction budget management features, Procore’s budgeting solution leverages real-time data to see where money is being spent, generate forecasts, and keep everyone on your team in the know about your project budget and beyond.
Speaking more broadly to their financial management solutions, Procore integrates seamlessly with a host of accounting platforms, streamlines the subcontractor payment process, and makes creating and managing invoices a cinch.
If you’re looking to gain control of your finances (and beyond) and put an end to cost overruns, Procore is an excellent choice.
Procore Features
- Real-time job cost tracking
- Accounting integrations
- Manual forecast input and automatic forecasting options
- Drill-down functionality
- Collaborative platform
- Quick and easy financial report generation
Procore Downsides
What contractors and construction managers love about Procore is how dynamic it is.
Well… that’s if you can get past the setup process. The most common complaint with Procore is that setup can be a bit painful, especially if you’re not a tech-savvy person in the construction industry.
If you’re able to get through the setup process and make sure that you fully understand what setup looks like before you get started, you should be able to get Procore to work for you.
Procore Pricing Plans
Procore offers custom quotes, and prices are always subject to change. Their pricing can vary significantly based on several factors, including the size of the business, the number of projects, and the specific modules or features.
That said, our research shows that Procore’s pricing can start at a few hundred dollars per month and can go up to several thousand dollars per month, depending on the scale and scope of the implementation.
4. ProjectSight
ProjectSight touts itself as a project management software designed for construction companies, and one that offers essential budget and cost control tools to help you cut down on expenses and improve your profitability.
ProjectSight is an extremely approachable platform that makes it easy to track your finances. Plus, you get the added benefit of collaborative tools, cloud storage for drawings and specs, and field management support.
Overall, it’s an excellent solution for those looking to improve the way they manage construction budgets and finances.
ProjectSight Features
- Easy-to-create, project-tailored budgets
- Seamless tracking of purchase orders
- Invoicing and payment support
- Contract generation and management
- Change management
- Integrations with accounting platforms
ProjectSight Downsides
The most common complaint with ProjectSight is that the drawing features tend to malfunction or be so complicated to use that it’s not worth continuing to use the feature.
But if you’re a project manager or another professional not looking to use this feature, you should be fine.
ProjectSight Pricing Plans
As with Procore, ProjectSight does not offer standardized pricing.
They instead request that you reach out to them so that they can give you a tailored quote for their service.
5. BuildBook
Are you a custom home builder or home remodeler looking for construction budgeting software designed for your small business or growing one? If so, BuildBook is the right solution for you.
Designed specifically for these parties, Buildbooks gives you all the tools to create and manage project budgets, keep everyone on your team in the loop when it comes to anticipated expenses and more.
They even offer sales management, construction project management software, and collaborative tools for a more seamless experience.
BuildBook Features
- Quickbooks integration
- Easy budget generation
- Project cost and payment tracking
- Budget sharing
- Team comments and communication
BuildBook Downsides
BuildBook is an excellent basic budgeting software for mid-sized construction companies specializing in home building and renovation.
As such, the only complaint seems to be with the lack of features offered by the budget management platform, with some stating they wish there was more.
BuildBook Pricing Plans
| BuildBook Plan | Features | Users | Monthly Cost |
|---|---|---|---|
| Solo | Unlimited Projects, Unlimited Clients and Subs, Sales, Scheduling, Budgeting, etc. | 1 | $99 |
| Team | Priority BuildBook support | 2 to 5 | $179 |
| Business | Personalized setup | 6 to 8 | $299 |
6. Raken
Raken is a field-first construction budget management software that makes it easier to stay on top of costs as construction projects develop.
Designed for a wide range of contractors including electrical, concrete, roofing, and plumbing, this versatile software is perfect for those who want to eliminate guesswork and improve their profitability.
Raken Features
- Real-time expense tracking
- Time tracking software
- Accounting software integrations
- Seamless data collection
- Instant production insights
- Historical data informs future bids
Raken Downsides
The biggest downside with Raken is that the app can be difficult to navigate.
Construction professionals are often overwhelmed trying to find and sift through all the different project budget logs, which can sometimes be tricky for contractors on the site to get used to using.
Raken Pricing Plans
Raken doesn’t list its pricing plans on its website.
It’s best to get a personalized quote to learn more about using this construction budget management software.
Selecting Construction Budget Software
When selecting construction budgeting software, it’s crucial to consider the key features to ensure it meets the unique demands of your projects.
First and foremost, look for comprehensive cost estimation capabilities that allow for detailed and accurate forecasting of expenses, including labor, materials, and equipment. User-friendly interfaces and customizable templates can significantly enhance usability and adaptability for specific projects. Real-time tracking and reporting are also helpful for monitoring budget and making informed decisions.
Additionally, cloud-based solutions offer the advantage of accessibility from any location, facilitating collaboration among the whole team. Finally, consider the software’s scalability to accommodate future growth and its customer support services to ensure any issues are promptly addressed.
Wrapping Contractor Budget Software
In conclusion, construction budgeting software can be an indispensable tool for general contractors aiming to streamline their financial management processes and enhance project efficiency.
By integrating features like cost estimates, real-time tracking, and resource allocation, these budgeting solutions allow contractors to maintain tight control over budgets, reduce the risk of cost overruns, and improve overall project outcomes. The ability to generate detailed reports and forecasts further aids in strategic decision-making, ensuring that projects are completed on time and within budget.
As the construction industry continues to evolve, adopting advanced budgeting software not only positions your business for greater operational success but also provides a competitive edge in a demanding market. Using this type of technology is a forward-thinking step towards achieving sustainable growth and long-term profitability.
