Costlocker Review - why 5 stars?

Costlocker Review
ITQlick Score: 94/100
ITQlick Rating: (5/5)
Pricing: 4.4/10 - average cost
Category: Project Planning -> Costlocker
Ranking:Ranked 1 out of 4 Project Planning systems
Company: Costlocker
Pricing: starts at $12 per user/year
Typical customers: Start up, Small business, Medium business
Platforms: Cloud
Links: Costlocker pricing, Costlocker alternatives

Shlomi LaviShlomi Lavi / updated: Mar 09, 2022

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What is Costlocker and its features?

Costlocker is a cost, profitability, and time management software solution that helps users and teams to analyze, monitor, and manage project costs better. For maximum performance, Costlocker has the following features:
  • Easy Budgeting: Costlocker allows users to create budget estimates based on estimated man-hours, client rates, or project fees. Users can also automate fee-based projects and carry out retrospective budgeting.
  • Project Supervision: With Costlocker, project managers and owners can track budget spending in real-time, see how much has been spent on projects, get project insights, assign tasks, monitor project progress, and set up alerts for estimated hours.
  • Time Tracking & Timesheets: Costlocker allows users to track time on all projects, and keep timesheets sorted either by days, people, or tasks. The Timesheets feature also allows users to view and export timesheets or grant access to clients to see them for themselves.
  • Invoicing: Users can prepare invoices for materials and project needs using Costlocker and organize them such that every team member can keep track of all invoices easily, keeping invoicing data within reach at all times.
Costlocker was launched in 2013. The software vendor company is headquartered in Prague, Czech Republic, and has between 1-10 employees. IT Labs acquired Costlocker in July 2021.


What is Costlocker rating?

The rating of Costlocker is 5 stars out of 5 and the total score is 94 out of 100. The rating score is based on our unbiased data-based algo. Learn more - rating methodology page.

Who uses Costlocker?

Costlocker customers are mainly SMBs. Most commonly, it can be deployed in industries such as marketing and advertisement, technology and software development, business consulting, engineering services, and others. Some notable Costlocker clients include Lions Mouth Digital, Symblaze, and SevenCentric etc.

Is it easy to use?

Yes, Costlocker makes it fairly easy to use. This product is user friendly and intuitive.

Is Costlocker cloud-based?

Yes, they offer cloud based hosting, which means IT resources are retrieved through web-based tools and applications and you don't need to buy servers and additional hardware equipment.

Can it be used on mobile?

No, currently Costlocker can't be accessed on mobile, you would need to access it from your computer.

Is Costlocker the best Project Planning system?

Costlocker is ranked 1 out of 4 software in their category (Project Planning systems).

What are their main features and functionalities?

Costlocker offers comprehensive tracking of project profits and costs along with working hours spent on each project. Different projects can be analyzed and compared based on project data. Tasks can be grouped by projects and recurring tasks can be set. Core budgeting and expense management features include creation and forecasting of budgets, hourly rate setting, and tracking expenses and hours.

Costlocker offers resource allocation capabilities with resource directory and resource utilization tracking. Expense and financial reports can be created and exported in CSV format. The software also offers time reports, creating teams and groups, and a customizable dashboard.

What are Costlocker's pros? (3 Pros)

  • Costlocker helps businesses get detailed insights into their financials.
  • The software is cost-friendly for small businesses
  • Costlocker is an entirely cloud-based tool and can be used on the go, from anywhere, at any time

What are Costlocker's cons? (2 cons)

  • Onboarding can be a bit difficult for new users
  • Costlocker does not have the Kanban boards feature common for most project planning software

Who are their main alternatives?

In the project planning, cost management, and time tracking categories, Costlocker faces competition from software brands like Parallax, Smartsheet, Trello, and monday.com. In key aspects, Costlocker is compared with its alternatives below:
  • Cost: Costlocker pricing starts at $12 per user per month, billed annually. In comparison, Trello pricing starts at $5 per user/month billed annually, monday.com pricing begins at $8 per seat per month, and Smartsheet pricing starts at $7 per user per month billed annually. At the same time, Parallax does not disclose its pricing schedule. Trello and monday.com have a free plan available, while Costlocker has a free trial offer available.
  • Functionality: Costlocker has functionalities typical for project planning and time tracking software like collaboration tools, budget management, and progress tracking. In comparison, Costlocker does not have some features which monday.com, Trello, and Smartsheet have, like Gantt View, Agile Methodologies, and Traditional Methodologies.
  • Scalability: Costlocker is scalable for project teams of all sizes. In comparison, Trello and other top alternatives of Costlocker are also fit for owners and project teams of all sizes.
  • Popularity: Costlocker was founded in 2013 as an emerging project planning software. Trello serves over 1 million teams globally, Smartsheet launched in 2006 and serves customers in over 190 countries, and monday.com is a publicly-traded company valued at $1.9 billion.
  • Support: Costlocker offers its users support through the following channels: email, live chat, and FAQ section. In comparison, monday.com, Smartsheet, and Parallax offer phone support, which Costlocker does not offer. Costlocker also does not have a 24/7 live representative like monday.com.
  • Customers/Industries: Costlocker is a project planning and time management tool for owners and project managers across various industries like fashion, finance, construction, etc. Costlocker targets similar customers and industries as most of its top alternatives, and Parallax targets professional service companies.
  • Cloud/On-premise: Costlocker is an entirely cloud-based project planning software, and its top competitors are cloud-based software solutions.

What is the cost of Costlocker?

Costlocker pricing schedule is built on a time-based subscription model. The monthly subscription costs $20 per user per month, and the six-month subscription is priced at $16 per user per month, while the yearly subscription pricing starts at $12 per user per month.

What is the REAL total cost of implementation? on top of the total cost of licenses which is easy to calculate you need to add the cost of training, customization, data migration, and other "hidden cost". ITQlick pricing score is 4.4 out of 10 (10 is most expensive). You can fine here the REAL total cost breakdown for Costlocker. You can also find here pricing information from Costlocker's website.

What should you ask Costlocker during a demo session? (65 questions)

Schedule a demo with Costlocker and access 65 must ask questions for the vendor while watching Costlocker in action. Visit the vendor's website here.

Where Costlocker is used?

Costlocker is a cost, profit, time management, and project planning software solution that helps business owners and project teams evaluate project profitability and manage time spent on projects. The software serves clients across various industries like tech, fashion, etc. Fragile Media, Story TLRS, ADison, and Pábéni are notable clients that use the Costlocker software.

List of categories

Expense Management
Employee Performance Management
Project Budgeting
Time Tracking

Costlocker Vs. Alternatives

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Costlocker
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5/5
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5
Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.