US-based capital project management solution provider Contruent has announced the launch of Contruent Enterprise, a software-as-a-service (SaaS) solution.

The SaaS solution aids owners of public infrastructure and commercial projects and engineering, procurement, and construction (EPC) firms to finish tasks faster and more accurately to stay on budget.

With a customisable dashboard and other capabilities such as integrated cost and schedule, contract management, engineering, and field management, the solution enhances the scheduling and budget management of large-scale projects.

Customers are provided with a reliable project-ready management tool that can help with timetable and budget requirements all in one location.

The Contruent Enterprise is a Cloud-based platform that assists its users in efficiently navigating cost management details, optimising spending and performance and improving contractor management.

In addition to improving communication and collaboration and offering contract management capabilities, it helps users to oversee project-critical change management.

Contruent CEO Ryan Kubacki said: “Construction projects show no signs of slowing down, particularly with President Biden’s $1.2 trillion infrastructure initiative being deployed, and budget owners need the best tools to manage these opportunities.

“Our new SaaS solution, Contruent Enterprise is faster than its predecessor, integrates cost and schedules, and comes project-ready with a quarter century of best practices built in. The result is unrivalled accuracy, speed, and cost efficiency.

“In 2022, we invested significantly in research and development and complemented our deep engineering expertise with a new management team from Oracle, Google and Microsoft to innovate, scale and grow. This resulted in growing our global business by 55% in 2022, and we are just getting started.”

The launch of Contruent Enterprise software comes as the former ARES PRISM rebrands itself to Contruent, building on its 25 years of expertise in aiding construction companies to stay on budget and track.

Contruent was formed following the acquisition of ARES PRISM by growth equity firm M33 Growth.

It develops cost management tools for large projects in the government infrastructure, oil and gas, energy and mining industries.