There’s no way around it: project management is crucial regardless of the scope of the project. In such a competitive marketplace, there’s simply no room for error. Ask any project manager (PM) worth their weight, and they’ll tell you that project budgeting is one of the most important phases of a new project. It’s possible to manually layout a great budget, and many businesses still do it today. However, there are some pretty significant drawbacks to manual budgeting -- the most glaring problem being human error.

Edward Moore, Chief Executive at strategic advisory and consultancy Resolex, explained the reality of human error in a recent Spring edition of the Project Journal:

"People are emotionally driven. Each of us has individual filters and perspectives. It shouldn't be a surprise that, when things go wrong, human 'error' is often found to be the cause." Humans are still very much necessary, but they fall short of the accuracy and consistency that we see in Project budgeting software today. There’s almost no instance where an automated budgeting app is not a smart investment.

budget accuracy consistency

In this article, we’re going to dive into Project Budgeting Software and explain why it's so beneficial to make the investment.

Advantages of Today’s Project Budgeting Software

1. Accuracy & Consistency Obviously, project budgeting software keeps you under budget. However, what’s amazing about some of the newer apps is the level of accuracy and consistency they provide. AI enhancements help you with data entry, estimates, and monitoring. Not only does this free up time for you to focus on other areas of the project, but it ensures a level of accuracy and consistency that most humans simply can’t achieve.

2. Data-Collection and Centralization High-performing project budgeting tool, Clockly can provide data-mining functionality. These apps essentially monitor projects and tasks, collect a wide variety of data points and variables, and store data in a centralized location. This enables PMs and employees to keep a close eye on Project Cost Management (PCM), productivity levels, and other key performance indicators.

Ready to Plan Your Budget Effectively with Clockly?

3. Simplification PMs understand that it’s sometimes necessary to divide large tasks into several smaller ones. This relieves some of the burden felt by employees and allows them to focus more on specific tasks at hand.

Of course, where the burden is lifted from employees, it’s essentially thrown onto the backs of the PM. Project budgeting software comes equipped with innovative AI that does most of the heavy lifting when it comes to monitoring the progress of individuals and ensuring accurate financial reporting.

data accessibility

4. Data Accessibility Because project budgeting software collects, categorizes, and stores data in a centralized location, PMs have access to insights that are invaluable when it comes to decision-making. What’s more, this data can be accessed and shared with stakeholders and other interested parties with ease.

Data is the lifeblood of successful project management. With unrestricted access to extremely accurate data, PMs can have confidence in the decisions they make now and on future projects. PMs can also adopt Data Warehousing and Business Intelligence solution which can further enhance the decision-making by analyzing the stored data and providing actionable insights

5. One-Click Closures and Reports One of the main benefits of using the automated features of project budgeting software is the ability to generate detailed reports with the click of a button. Now, you can compile charts, graphs, and other data points almost instantaneously -- a process that would normally take days to complete manually.

One click Closures And Reports

In addition, you can easily select the data you want to be highlighted in your closure reports. This is useful when you want reports that detail expenses, productivity, or any other variable you can think of.

6. Confidentiality and Security Project budgeting software allows you to store sensitive information more securely than ever before.

PMs under pressure to meet a deadline will sometimes neglect the security of the data they possess. Secure project budgeting/time tracking software like Clockly allow for automatic backups of sensitive information, thus preventing loss of information and maintaining the integrity of the entire project. Clockly's project budgeting tools also include a QR code maker, allowing project managers to easily generate and distribute QR codes for quick access to project information and updates.

Not only does this keep PMs happy, but it also makes for very happy clients.

7. Client Satisfaction Speaking of happy clients, project budgeting software helps you complete projects on time and under budget, and that does wonders, not only for your reputation as a PM but also for ensuring the customer is pleased.

client satisfaction

At the end of the day, it’s all about the client. Keeping costs low and finishing the job on time are two key ways you can please your clients and ensure a positive recommendation in the future.

Final Word

As with most things on the internet, there’s no shortage of project budgeting apps available on the market. One search will yield hundreds, if not thousands of results. Coincidentally, when shopping around for the best project budgeting software, it’s important that you keep your own budget in mind. You know your business better than anyone else. And so, you’re the most qualified person on the planet to determine the features and functions you need most in an automated budgeting app.

Don’t shoot for the first app you come across! Most brands will give you a chance to test drive their solution before making an investment. Clockly for instance has a free plan.

Discover Why Clockly Stands Out
Join the SaaS Revolution
  • All-in-One Suite of 50 apps

  • Unbelievable pricing - ₹999/user

  • 24/5 Chat, Phone and Email Support


Email Finder Author Finder Email Validator Email List Email Hunter Email Checker Email Lookup Email Extractor Email Address Finder Email Scraper Find Emails CRM Software CRM Sales CRM CRM Software Enterprise CRM Software Cloud CRM Software Sales Enablement Workflow Automation Retail CRM Call Center CRM Real Estate CRM Sales Tool SDR Software Sales Engagement Platform Sales Qualified Leads Lead Management Tool Sales Tracking Sales Automation Outbound Sales Sales Prospecting Follow Up Leads Lead Management Call Center Software Call Center Software Outbound Call Center Auto Dialer Software Dialer Call Monitoring Automatic Call Distributor Answering Machine Detection Cloud Contact Center Software Virtual Call Center Call Management Time Tracking Time Tracking Employee Monitoring Time Tracker Time Tracking Software Timesheet Employee Time Clock Employee Tracking App Timekeeping Tracking App Time Clock App Applicant Tracking System ATS Applicant Tracking System Application Tracking System Applicant Software Recruiting Software ATS System Applicant Tracking Applicant Tracker Recruitment Software Candidate Relationship Management Systems Video Interviews Assessment Management Recruitment Software Video Interview Virtual Interview Coding Interview Interview Tool Online Assessment Employment Assessment Test Position Management Hiring App HRMS Software Human Resource Management HRMS Software HR Software Payroll Software Human Resource Software Employee Onboarding HRMS HR System Employee Management Document Management AI Writer Lead Enrichment AI Email Writer Sales Pitch Writer AI LinkedIn Outreach SEO Email writer Backlink Email Writer LinkedIn Chrome Extension Opening Line Writer Lead Generation Linkedin Search Prospect Lead Generation Sales Generation Data Enrichment CRM Integrations Technology Search Search with Email Integrations Website Search OKR Tool KPI OKR Task Management Performance Review Employee Performance Evaluation Employee Review Performance Management System OKR Goals MBO Email Notifications Learning Management System LMS Elearning Enterprise Learning Management Professional Development Employee Training Learning Management System Learning Platform Asynchronous Learning Training Management Knowledge Management Chatbot Chatbot AI Chatbot Customer Service Chatbot Online Chatbot Create Chatbot Messenger Chatbot Chatbot Software Website Chatbot Software Survey Bot Bot Builder Help Desk Software Ticketing Tool User Experience Help Desk Software Ticketing System Helpdesk Ticketing System Feedback Management Service Desk Software Support Ticketing Software Helpdesk Support Software Customer Service Ticketing System Live Chat Customer Service Software Live Chat Software Live Chat App Live Chat System Website Live Chat Live Chat Tool Web Chat Software Live Chat Support Software Customer Service Tool Live Chat Service Customer Feedback Customer Feedback Survey Customer Feedback Management Software Feedback Management Tool Customer Satisfaction Survey Software Customer Feedback Management System Client Feedback Software Survey Analysis Feedback Survey Software Feedback Management System User Feedback Software Customer Onboarding Customer Success Management Onboarding Process Workflows Customer Retention Customer Journey Onboarding Checklist User Segmentation Personalization Customized Templates Popup Builder API Platform End To End API Management Unified API Control REST API Management Web API Gateway API Documentation API Management API Integration API Development Unlimited Projects API Gateway Single Sign on Authentication Software Application Management Password Management SSO Configuration SSO Single Sign-On Access Management Easy Set-Up Single Login Secure Login App Builder App Builder Platform Low Code Application Platforms Low Code Development Build Your Own App Low Code App Software Drag And Drop Builder Custom Application Low Code Platform Low Code No Code Bespoke Software App Widgets Custom Widget File Picker Playground OAuth Keys File Manager Website Monitoring Reporting Web Application Monitoring Website Monitoring App Monitoring Performance Monitor App Baseline Analysis Location Insights Alerting System Reporting Wireframe Tool Design UI UX Project Management Mock Designer Wireframe Designer Website Mockup UI Prototyping Image Library Project Management Real-Time Updates Design UI UX Website Builder Website Builder Webpage Builder Website Creator Landing Page Creator Website Maker Blog Builder Ecommerce Website Builder Website Analytics Website Development Landing Page Builder Email Marketing Email Marketing Software Bulk Email Sender Automated Email Email Campaign Systems Email Automation Software Autoresponders Email Blast Service Email Marketing Email Marketing Automation Drip Campaigns Social Media Management Instagram Post Scheduler Social Media Analytics Social Media Management Social Media Planner Social Media Calendar Social Media Scheduling Social Media Listening Social Media Monitoring Social Listening SEO Tool Keyword Tool Link Building SEO Optimizer Website Audit On-Page SEO Broken Link Checker Rank Tracker Website Grader SEO Competitor Analysis Website Recording Website Analytics Click Tracking Usability Testing Website Monitoring Mouse Tracking Visitor Recording Session Replay Conversion Funnels Website Recording Website Visitor Tracker Website Personalization Lead Generation Tool Popup Maker Lead Generation Software Popup Builder Website Personalization Software Lead Capture Software Popup Builder Lead Capture Tool Lead Generation App Website Personalization App Content Planner Content Planner AI Writer Social Media Content Planner Ai Content Writer Social Media Content Calendar Content Generator AI Blog Writer Content Marketing Software Social Media Calendar Social Media Planner Push Notification Push Notification Push Messages Push Notification Service Push Service Push Notification App Custom Notifications Mobile Push Notifications Push Notification For Website Push Notification Tool Push Notification Providers Image Personalization Email Marketing Template Countdown Clock Personalization Software Personalized Software Countdown Clock Countdown Timer In Email Personalization Tool Personalized Images Personalized Videos Conversational Chatbot PPC Management Keyword Research PPC Management PPC Marketing Keyword Finder Keyword Generator Shopping Ads Adwords Reports Keyword Research Tool Keyword Suggestion Tool Team Chat Team Chat Software Collaboration Software Team Collaboration Team Communication Online Collaboration Collaboration Tool Teamwork Collaboration Virtual Communication Team Collaboration Software Business Phone System Virtual Phone Numbers Virtual PBX Toll Free Numbers Business Phone System IVR PBX Small Business Phone System PBX System VoIP Phone Cloud Phone Video Conferencing Video Conferencing Video Call Recording Virtual Conferencing Software Virtual Meetings Virtual Meeting Platforms Virtual Conference Platforms Online Conference Platforms Video Calling Software Cloud Meetings Video Conferencing Software Email Provider Email Software Software For Emails Hosted Emails Email With Domain Custom Email Address Email Hosting Business Email Address Email Encrypted Custom Domain Email Project Management Software Project Management Task Management Project Planner Project Management Tool Task Management Software Project Planning Software Project Management App Task Management App Project Management System Project Management Software Form Builder Form Builder Survey Builder Order Forms Web Forms Form Maker Form Creator Form Designer Survey Maker Survey Creator Custom Form Appointment Scheduling Appointment Scheduling Software Appointment Scheduling System Meetings Scheduler Appointment Scheduling App Online Appointment Scheduling Online Scheduling App Appointment Scheduler Appointment Booking App Calendar Scheduler Online Scheduler Robotic Process Automation RPA Tools RPA RPA Automation Robotic Automation Software Data Scraper Web Scraper Robotic Automation Website Scraper Business Process Automation Robotic Process Automation Business Process Management Workflow Management Business Process Modelling Business Process Automation BPMN BPM Software BPM Tool Business Process Management Workflow Software Workflow Automation Business Process Mapping App Integration Workflow Software Workflow App Workflow Automation Process Automation Application Integration Data Integration Tool Workflow Management Software Data Integration Software Workflow Tool Marketing Automation Electronic Signature Signature Maker Digital Signature Software Digital Signature Pdf Signer Esign Online Signature Signature Creator Sign Documents Online Electronic Sign E Signature

Pinned Blogs

Get Started with 500apps Today

Clockly is a part of 500apps Infinity Suite

Please enter a valid email address
Sign Up 14-day FREE Trial