SOURCE: 2Forecast


December 04, 2013 09:00 ET

2Forecast Launches Cloud-Based Project Job Cost Forecasting Software

LAGUNA BEACH, CA--(Marketwired - Dec 4, 2013) - Today 2Forecast has announced the release of its self-titled cloud-based forecasting software, offering users the unique ability to observe and respond to project portfolio job cost adjustments as they occur.

Inspired by the construction industry's desire for more comprehensive and efficient cost forecasting software, 2Forecast was designed with features that meet the most pressing needs of construction forecasters as well as those in aerospace, manufacturing, plus oil and gas industries.

"Until now, forecasting software has fallen short when it comes to real-time critical data needs," 2Forecast President Michael Saddik said. "Forecasting software has always made the crucial mistake of separating the forecasts from the actual dynamics of an ongoing project.

"This failure to reflect on ongoing developments can prove to be a serious liability for companies that should be actively reflecting on and learning from their project data so they can understand their true cost drivers. We wanted to create software that enables data-driven decision making, from the top down."

With decades of experience in the industries 2Forecast serves, the company's software was designed by a cross-disciplinary team of executive managers familiar with project portfolio management, engineering, job cost forecasting and cloud software development.

With this insight infused into the software, 2Forecast helps project managers improve cash flow projection with industry-specific and accurate cost-to-complete assessments. 2Forecast's proprietary Instant Recall™ feature lets users drill down into the history of line items, view supportive documentation or related correspondence. By providing this documented history and the ability to view trends influencing the forecast, 2Forecast makes business data more accessible and valuable to users.

"We decided from the start that 2Forecast needed to offer more complete project forecasting and better analysis tools while improving the user's experience with their operational software," Saddik added. "It's intuitive for our users to access their information and learn quickly from their own results. Cost forecasting software isn't just about organizing data; it's about deriving better value from that data for its users."

2Forecast's easy-to-use interface includes a user-defined dashboard with data visualization tools. This enables 2Forecast to produce project portfolio intelligence graphs that relay real-time, comprehensive information at a single glance.

Built natively for cloud computing, 2Forecast brings to market for the first time, this level of functionality to job cost forecasting for construction firms and to other infrastructure industries with workforces continuously operating both in the office and the field.

About 2Forecast:

2Forecast ( delivers comprehensive, dynamic forecasting and project portfolio management (PPM) tools specializing in job cost forecasting for aerospace, construction, oil & gas and infrastructure-related industries. The company is based in Laguna Beach, California.

Forward Looking Statements: This press release may contain forward looking statements relating to 2Forecast's performance that are based on management's current expectations, estimates and projections. Actual future performance, outcomes and results may differ materially from those expressed in forward looking statements as a result of a number of risks, uncertainties, assumptions and other factors, some of which are beyond 2Forecast's control and are difficult to predict. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Unless legally required, 2Forecast undertakes no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise. Representative examples of other factors that may impact the forward looking statements include (without limitation) general industry, international economic and political conditions, competition from other companies, shifts in customer demands, customers and partners, changes in operating expenses, including all other unpredictable or unknown factors not discussed in this press release, which could also have material adverse effects on forward looking statements contained in this release as well as other statements made by 2Forecast.

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