Accurate Costing
Know the true cost of every product, job and project.
Cost Management Software
Know Your True Costs and Protect Your Margins
TimeTrax Cost Management System tracks, allocates and controls costs across products, projects and departments. Get accurate costing and clear margin visibility so you can protect and grow profitability.
Trusted by 500+ Active Organizations across Multiple Industries
30th Year of Excellence
1 Million+ Employees Managed
Enterprise-Grade Security
Cloud & On-Premise Deployment
The Basics
What is a Cost Management System?
A Cost Management System captures and analyzes the costs of producing goods or delivering services. It allocates direct and indirect costs to products, jobs, projects and departments, revealing true costs and margins.
TimeTrax Cost Management gives finance and operations a precise view of where money is spent and earned. By automating cost allocation and comparing actuals against standards and budgets, it helps you identify inefficiencies, price accurately and safeguard margins.
Why TimeTrax
Why Choose TimeTrax Cost Management
Understand your true costs and protect margins with precise cost control.
Smart Allocation
Distribute direct and indirect costs with confidence.
Margin Visibility
See profitability by product, customer and department.
Cost Control
Compare actuals to standards and budgets to control spend.
The Problems
Common Cost Management Challenges We Help You Solve
Unclear true cost of products and services
Manual, inconsistent cost allocation
Hidden overheads eroding margins
No visibility into profitability by segment
Inaccurate pricing decisions
Actual costs disconnected from budgets
Capabilities
Key Features of TimeTrax Cost Management
Everything you need to measure, allocate and control costs accurately.
Product and Job Costing
Calculate costs by product, job and project.
Cost Allocation
Allocate overheads across cost centers automatically.
Standard Costing
Set standard costs and analyze variances.
Profitability Analysis
Analyze margins by product, customer and unit.
Cost Centers
Organize and track costs by department and center.
Cost Reports
Generate detailed cost and variance reports.
How It Works
The Cost Management Workflow
See how Cost Management flows end to end inside TimeTrax.
Choosing a System
How to Choose Cost Management Software
Most organizations know what they spent. Far fewer can say what any individual thing cost them to produce.
Costing left to the general ledger
The ledger tells you what left the bank, by account. It does not allocate an overhead to a product or a shift to a job, so gross margin is visible and product margin remains an opinion.
A costing spreadsheet built monthly
It answers the question once, for the period somebody had time to model. The allocation rules live in formulas only their author fully understands, which becomes a real exposure the month that person is on leave.
Costs allocated as entries post
TimeTrax allocates overheads to cost centres and jobs as transactions land, compares actuals against standards, and reports variance by product, customer and unit. Cost management software that runs continuously is what makes a pricing conversation evidence-based.
Industries
Built for Every Industry Ready for Digital Transformation
Whether you’re replacing manual processes or upgrading from a legacy system, TimeTrax provides the technology, expertise and support to help you succeed.
Manufacturing
Manage large workforces, multiple shifts, overtime, attendance, leave and payroll with greater accuracy while improving operational efficiency.
Retail & FMCG
Support distributed teams across multiple branches with centralized employee management, real-time tracking and streamlined HR processes.
Healthcare
Simplify workforce scheduling, credential management, shift planning and compliance while ensuring uninterrupted healthcare operations.
Education
Manage faculty, administrative staff and support teams through a centralized HR platform with automated attendance, leave and payroll.
Logistics & Supply Chain
Track employees across warehouses, distribution centers and field operations while improving workforce visibility and productivity.
Textile & Apparel
Handle complex workforce structures, production shifts, attendance and payroll efficiently across factories and manufacturing units.
IT & Technology
Create a modern employee experience with digital HR processes, self-service, performance management and workforce analytics.
Hospitality
Manage shift rotations, seasonal staffing, attendance, leave and payroll while delivering a seamless experience for employees and HR teams.
Connected Ecosystem
Integration Capabilities with Your Existing Systems
Connect HR processes with the systems your business already relies on.
- Biometric Attendance Devices
- ERP Systems
- Payroll & Finance Software
- Accounting Platforms
- Microsoft Active Directory & SSO
- Email & SMS Gateways
- Document Management Systems
- REST APIs & Third-Party Apps
Implementation
Simple & Hassle-Free Implementation
From initial planning to post-go-live support, our specialists work closely with your team to configure the system around your business processes, migrate existing data and ensure a smooth transition.
01
Discover & Plan
We understand your specific business requirements to recommend the best implementation approach.
02
Configure & Integrate
Our team configures workflows, policies, user roles and integrations to align the platform with your existing operations.
03
Data Migration & Testing
Employee records and historical data are securely migrated, followed by thorough testing to ensure everything works as expected.
04
Training & Go Live
We train HR teams, managers and employees before launching the system, backed by continuous support for a successful rollout.
We not only meet but exceed expectations
Dedicated implementation consultants
Secure data migration
User training and onboarding
Integration assistance
Post-launch technical support
Continuous product enhancements
Unleashing the Power of Data with TimeTrax
30th
Year of Excellence
35+
Countries covered
2000+
Implementations
1 Million+
Users
Ready to Protect Your Margins?
Stop guessing your costs. TimeTrax Cost Management gives you precise costing and margin visibility to price right and control spend.
Terminology
What else is a Cost Management System called?
The naming varies by industry. Manufacturers say cost management system software and mean product and job costing; services firms say project cost management software and mean spend against an engagement. Both are cost management software. The difference is what a cost object is in your business, and that is worth settling before you look at a single screen. Once that is settled, costs are collected from the transactions the ERP system already records, rather than re-entered into a costing model that drifts from the books.
The modules nearest to this one are Cloud Accounting Software, Production Management System and Inventory Management Software. For the wider context, ERP software in Pakistan.
Frequently Asked Questions
Everything you need to know about the TimeTrax Cost Management System.
What is a Cost Management System?
A Cost Management System captures and analyzes the cost of producing goods or delivering services, allocating direct and indirect costs to reveal true costs and margins. TimeTrax automates this end to end.
Can it do product and job costing?
Yes. TimeTrax calculates costs by product, job and project for accurate cost visibility.
How does cost allocation work?
TimeTrax allocates direct and indirect costs across cost centers automatically using configurable rules.
Does it support standard costing?
Yes. You can set standard costs and analyze variances against actuals.
Can I see profitability by segment?
Yes. TimeTrax provides profitability analysis by product, customer and business unit.
Does it integrate with financials?
Yes. Cost data connects with the Financial Management module for accurate reporting and control.
Can it cost projects as well as products?
Yes. A cost object can be a product, a job, a project or a department, so project cost management software and manufacturing costing are one module configured differently. Organizations doing both run them side by side against a single ledger.
What needs to be in place before this is useful?
A chart of accounts you trust and allocation rules you have agreed. Cost management software cannot invent a basis for spreading overhead — it applies the basis you choose, consistently, which is most of the value. If those rules are still contested internally, settle that first.
Now, what's stopping you?
Know Your Costs, Grow Your Margins
Make every decision with cost clarity. TimeTrax Cost Management reveals your true costs and helps you protect profitability across the business.