Cost Control for Construction
Contract management and cost control is critical for construction. A new product looks to address this need for the industry. Maginox enables agencies with large capital construction programs to manage and control projects and contracts with prime and subcontractors. The cloud-based product can help track projects, budgets, and contracts by cost codes and funding sources, allowing for greater cost summary reporting flexibility. What makes this product so unique is the fact that it generates IDOT and Illinois Tollway contract obligations based on the contract durations and remaining fees. This provides a huge competitive advantage for companies with contracts that need to report to these agencies. At the same time, the technology is scalable for all levels of programs and projects for individual companies or for large agencies. Additionally, the solution provides crucial cost reporting and offers stakeholders the necessary business information to make better informed decisions.
“New products can help spur innovation. Maginox is one example of this, offering a unique way to manage large programs and the funding associated with those programs.” -Constructech editors