HOW COSTTRAX WORKS
STEP 1: DEFINE YOUR PROJECT
Ensure every request you receive is complete and compliant to your specifications.
During project setup you have complete control over the reimbursement workflow:
- Which expense types are allowed in the request portal
- Which expense types require backup
- How much markup to apply
- Who may submit project costs
- Who can approve submitted requests
STEP 2: INVITE CONTRACTORS TO SUBMIT REQUESTS
The CostTrax request portal makes submitting reimbursement requests faster than ever.
Invited contractors (or your own field personnel) can use the request portal to quickly:
- Track project expenses via standard template
- Save project assets that can be quickly added to requests
- Leverage Rental Rate Blue Book rates for owned equipment usage
- Submit necessary backup for non-equipment expenses
STEP 3: REVIEW COMPLIANT, PRE-AUDITED REQUESTS
CostTrax controls costs by enforcing all specs and flagging suspicious expenses.
We automatically audit and validate expenses against our data sources to prevent over-payment of:
- Owned equipment costs, using industry-standard Rental Rate Blue Book ownership & operating rates
- Rental equipment costs, using EquipmentWatch’s extensive database of national and local rental house rates
- Receipt-based expenses, by requiring and storing invoice/receipt attachments during the submission