MANAGEMENT CONTROLS SIGNS NORTH AMERICAN LICENSING AGREEMENT WITH MAJOR PETROCHEMICAL COMPANY
Posted on Sep 02, 2010
HOUSTON (September 2, 2010) -- Management Controls, Inc., the leader in contractor cost management software, today announced that one of the world’s largest refining, chemicals, and oil sands companies has purchased a license for Track™, Management Controls’ flagship solution. The software will be integrated with multiple modules of SAP and various access control systems. The global energy company will standardize on Track across more than 17 locations in the U.S. and Canada to gain transparency, control and accuracy in managing costs and project status for complex projects.
The client selected Track based on its long-standing use of the solution and the tangible benefits it has achieved in six refineries and chemical plants running earlier versions of Track. This customer first began using Track in the mid-1990s. Using Track, the company has been able to streamline workflow, improve processes and achieve substantial cost savings. Track was attractive because of its seamless SAP integration, and because of Management Controls’ ability to accommodate the company’s unique SAP deployment. In addition to implementations at about 11 new sites, the company will upgrade all previous installations of Track software to the newest 6.1 version.
This leading manufacturer also will be using Track Analytics, a key component of Track that provides an advanced dashboard of key performance indicators (KPIs). It will use Track Analytics’ reporting capabilities to monitor contractor spend over specified periods of time and leverage that insight for project planning, scheduling and control.
"We're pleased to expand our 15-year relationship with this very important customer,” said Sarah Durham Summers, director, client training, Management Controls, Inc. “In an industry where too many projects are late, over budget and tied up in payment disputes, our customers see dramatic improvements in joint efforts with their contractors to keep jobs on plan and on budget. Using Track software, companies typically save millions of dollars every year on routine maintenance, turnarounds and capital projects. Management Controls is very pleased to continue and to expand our relationship with this client.”
This agreement is one of several enterprise licenses that Management Controls has with large petrochemical manufacturers. The company has licensing agreements with 26 major U.S. refining and industrial manufacturing enterprises at approximately 115 sites, including most of the largest refineries in the U.S."
About Track Software -- Track software solves the cost control challenges of turnarounds, capital projects and routine maintenance. Track software provides visibility into actual contractor hours worked and alerts project teams to cost overruns before they get out of hand. The solution eliminates the need for contractors to complete paper-based timesheets and electronically generates invoices based on accurate hours and contract specific terms, conditions and rates. Because it accurately calculates contract labor, materials and equipment charges, Track software minimizes disputes and helps ensure timely, accurate payment to contractors. Track software is implemented in eight to 10 weeks and delivers a payback measured in months. The solution easily integrates with existing ERP, CMMS (Computerized Maintenance Management Systems) and other systems. Track software is enterprise scalable, and offers multi-language and multi currency capabilities.
Founded in 1989, Management Controls, Inc. is the leader in contractor cost management software. The flagship product, Track, automates the entire financial management processes of contractor projects within large industrial manufacturing plants -- from time capture through invoicing, typically delivering 5-15 percent savings annually. Track provides owners and contractors with real-time transparency, accuracy, contract compliance and control of project costs, helping complete projects on time and on budget and minimizing plant downtime. Management Controls’ software is deployed at more than 60 percent of overall U.S. refining, spanning approximately 115 sites, including most of the country’s largest refineries, such as Chevron, Shell, Valero, Tesoro and many others.
In addition to Track software, the company offers implementation services, Project Cost Forecasting software, and Track Mobile software for field data gathering. The company is privately held and based in Houston. More information can be found at www.managementcontrols.com.