Prabh Paul - Tracecost

Tracecost offers an innovative solution
Surging demand for prompt project delivery is driving global infrastructure towards automation, but India’s industry lags behind in adopting automated processes. Tracecost offers an innovative solution to address this gap, providing remarkable benefits compared to manual methods.

Prabh Paul - Founding Partner, Tracecost

Tracecost is dedicated to solving problems and minimizing errors by effectively transferring manual tasks from humans to machines.
In our experience, the surging demand for prompt project delivery is the primary driver pushing the global infrastructure market towards reengineered processes and technologies. Automation systems are being embraced by various industrial segments within the global infrastructure sector to alleviate labor burdens, resulting in significant market growth. However, the infrastructure industry in India has yet to adopt automation in line with international standards, persisting with manual processes.

With decades of experience in the same industry, Tracecost Inc. has diligently explored the key reasons hindering the Indian industry’s adaptation and reluctance to utilize globally available project management solutions. Having identified the root causes, we have developed an innovative solution in Tracecost that offers remarkable benefits compared to manual processes. Our project management automation solution has the potential to ensure substantially faster project delivery than current schedules. Our objective is to reduce time-consuming, repetitive, and routine work while maximizing the repeatability and predictability of outcomes.

The following snapshots confirm the validity of the opportunity for Tracecost.

Tracecost offers an innovative solution

Tracecost is a cloud-based software solution that effectively manages crucial project data.
With its web and mobile applications, users can conveniently review, create, edit, and share project data with team members across multiple locations. Remarkably, these applications even function in offline mode, ensuring seamless operation even without network connectivity.

By streamlining and mobilizing project communications and documentation, Tracecost plays a pivotal role in significantly enhancing project efficiency and accountability for infrastructure and construction projects. Moreover, it offers a scalable, cost-effective, and highly interoperable AI platform that aggregates construction data from diverse sources. The ultimate goal is to optimize project efficiency in terms of time, cost, and effort.

Tracecost’s cohesive platform acts as a connective force, uniting people, applications, and devices to facilitate a frictionless construction process. Currently, the software successfully manages a wide range of construction projects globally, including industrial plants, office buildings, apartment complexes, university facilities, retail centers, and more.

Tracecost offers an innovative solution

Tracecost operates offices in India and Canada, strategically catering to both the domestic and North American markets. Successfully appealing to two distinct markets can be challenging for a tech solution, but Tracecost has achieved tremendous success in this regard. The company’s progress has been substantial, evident in its pre-series A investment of $2.5M, which has facilitated its rapid scaling. As a result, Tracecost is poised to strengthen its position as a truly global construction management solution in the months to come.

JMC Projects, Shapoorji Pallonji, Lodha, IRCON, Kalpataru and many more also have been taking advantage of the Tracecost solution for project management, resulting in improved safety, quality, and productivity.
Tracecost offers an innovative solution
Notable projects such as Tata Housing, Nalanda University, Emaar Commercial Centre, HCL Campus, Ethiopia Expressway, and Mongolia Water Dam projects are just a few examples where Tracecost oversees every aspect of the project. This comprehensive approach allows developers to remotely assess site activities, estimate optimal inventory levels, and enhance delivery timelines.

By leveraging Tracecost, dynamic re-planning capabilities are made possible, enabling planners to make cost-effective adjustments before issues escalate. This proactive approach ensures improved safety, enhanced quality, and increased productivity. As a result, Tracecost solutions deliver consistency, transparency, and efficiency throughout the project lifecycle.

The challenges faced by a startup in the construction industry are multifaceted.
One such challenge is the uniqueness of each construction project, which makes it difficult to replicate solutions. However, Tracecost has managed to overcome this hurdle by successfully implementing its solutions in over 540 active projects worldwide. Additionally, the industry’s fragmented nature, with numerous participants involved in each stage of the project life cycle, presents another obstacle. To tackle this, Tracecost actively engages all stakeholders and offers customized analytics tailored to their specific requirements. Lastly, the presence of an unqualified workforce further complicates matters. Nevertheless, Tracecost addresses this challenge by providing simplified yet comprehensive workflows that streamline processes and empower the workforce. Through these efforts, Tracecost aims to revolutionize the construction industry and drive innovation in project management.
NBM&CW, August 2023
Exploring Tomorrow's Construction: Trimble's Vision at Roof India

Exploring Tomorrow's Construction: Trimble's Vision at Roof India

The forthcoming Roof India exhibition in Bengaluru is poised to be a milestone for the roofing and construction industry. As we, Trimble - a leading provider of construction technology solutions, gear up for this prestigious event

Read more ...

Trimble's software solution for motor grader, compactor & paver

Trimble's software solution for motor grader, compactor & paver

Trimble, a global leader in construction technology, unveiled its platform-based software solution to assist contractors in improving the efficiency of their on-site equipment/fleet, especially motor graders, compactors, and pavers

Read more ...

Construction Technology For Speed, Efficiency, Resilience and Durability

Construction Technology For Speed, Efficiency, Resilience and Durability

Disruptive technology is reshaping construction practices from design and planning to project execution and facility management. The integration of cutting-edge technologies such as Building Information Modelling (BIM), 3D printing, robotics

Read more ...

Reliance ReRouteTM Turns Plastic Waste Into Road Construction Material

Reliance ReRouteTM Turns Plastic Waste Into Road Construction Material

Roads constructed using waste plastic have higher durability, more resistance to deformation and to water induced damage, and improved stability and strength. ReRouteTM is an initiative for End-of-Life Multilayered Waste Plastics for Road Construction

Read more ...

Tech-Enabled Startups Redefining India's Construction Industry

Tech-Enabled Startups Redefining India's Construction Industry

In the vast landscape of India’s construction industry, a new wave of disruption is sweeping through, powered by the innovative prowess of tech-enabled startups. These visionary companies have set their sights on transforming the way buildings are designed

Read more ...

Buildo.Market: Construction Materials Marketplace Using VR & Catalogs

Buildo.Market: Construction Materials Marketplace Using VR & Catalogs

The idea behind Buildo.Market is to provide a one-stop solution for construction-related materials and services in India, driven by the changing customer purchasing behavior during the pandemic. Previously, people hesitated to select materials without

Read more ...

Elixia's Technology Delivers Logistics Efficiency, Saves Time & Money

Elixia's Technology Delivers Logistics Efficiency, Saves Time & Money

An efficient logistics system is an interplay of technology, infrastructure, and manpower and we are currently lagging in all these factors. The logistics sector is the backbone of economic growth; its efficiency has a direct influence on the growth of other

Read more ...

Find Skilled CE Operators, Manage Equipment & Cut Costs: EQUIP9™ App

Find Skilled CE Operators, Manage Equipment & Cut Costs: EQUIP9™ App

EQUIP9™ - the first global start-up in the heavy equipment- aims to connect every entity in this industry and simplify the complex construction business with its app-based digital solutions. Find certified operators, manage equipment, and cut costs

Read more ...

Onsite Construction Management Software: Smooth Project Operations

Onsite Construction Management Software: Smooth Project Operations

In around 2 years, over 100,000 construction businesses in India have transitioned from their traditional methods to adopting Onsite, a tech-enabled startup that is disrupting the country’s construction industry by providing a range of benefits such

Read more ...

PACE Robotics' Modular Wall Finishing Robot: Save Time, Cut Costs

PACE Robotics' Modular Wall Finishing Robot: Save Time, Cut Costs

Robots offer a remarkable advantage, being able to accomplish tasks with a speed ten times faster than traditional methods, while also reducing costs by threefold. Moreover, they guarantee consistent quality, eliminate physically demanding

Read more ...

Powerplay Cloud-Based Construction Management Platform

Powerplay Cloud-Based Construction Management Platform

With a rising level of digital literacy, numerous startups are developing cutting-edge solutions to address the challenges faced by the construction industry in India. Powerplay is a cloud-based construction management platform that helps construction

Read more ...

TappetBox's Data Capture Solutions Streamline Construction Workflow

TappetBox's Data Capture Solutions Streamline Construction Workflow

TappetBox was born out of the realization that the construction industry lacks modern frameworks for data capturing and maintenance, particularly in equipment monitoring and management. TappetBox App helps construction companies collect, track & manage

Read more ...

Roadmap for Innovation & Digital Tech Transformation in the Construction Sector

Roadmap for Innovation & Digital Tech Transformation in the Construction Sector

In recent times, companies, including construction firms, have become more enthusiastic about adopting disruptive new tech tools and embracing digital transformation. Despite various challenges, the accelerated digital evolution aided by investments

Read more ...

Harnessing the Potential of 3D Printing with Geopolymer Technology

Harnessing the Potential of 3D Printing with Geopolymer Technology

The amalgamation of geopolymer technology with 3D printing gives birth to a method of construction that is both sustainable and efficient; it marries the speed and flexibility of 3D printing with the environmental and structural benefits of geopolymer

Read more ...

How Construction Industry is Using Technology to Become More Sustainable

How Construction Industry is Using Technology to Become More Sustainable

Global warming and climate change are among the biggest challenges of our generation today. Almost 40 percent of energy-related greenhouse gas emissions are from the construction sector, as per UN’s 2019 Global Status Report for Buildings and Construction

Read more ...

Cusmat: Offering Immersive Learning Techniques

Cusmat: Offering Immersive Learning Techniques

Cusmat’s Metaverse-based training and upskilling tools for technicians and operators in Mining, Logistics & Manufacturing industries are making training and recruitment more efficient, faster, and cost-effective. Cusmat is providing virtual reality or augmented

Read more ...

Driving Efficiency & Productivity with Smart Construction

Driving Efficiency & Productivity with Smart Construction

As construction projects become more complex, construction companies must infuse agility into their operations to avert time and cost overruns by tapping into the benefits of advanced technology solutions like Building Information Modeling

Read more ...

Technology Boosting Jobsite Connectivity

Technology Boosting Jobsite Connectivity

While jobsite connectivity is making sure that information is transferring to the right individuals at the right moment so that they can do their jobs more effectively, however, executing jobsite connectivity is a completely different matter as every

Read more ...

To get latest updates on whatsapp, Save +91 93545 87773 and send us a 'Saved' message
Click Here to Subscribe to Our eNewsletter.