Contractor Cost Tracking
Track is the market leading solution for owners and contractors seeking greater cost control, transparency and contract compliance. For two decades, industries from refineries to chemical companies to power plants have been using Track to manage their contractor spend.
MCi's Business Model
HOW DOES TRACK DO IT?
One of the strengths of Track's value proposition lies within the way it addresses a central question that always confounds companies: What is your current process for capturing contractor spend? Unfortunately, the answer often lies somewhere between a spreadsheet and 'none'.
Management Controls has determined that, because most companies don't have a technology-based process in place to perform contractor cost tracking, hard dollars are lost in one of three ways:
- Inaccurate hours - 4-7%
- Errors with contract compliance - 4-7%
- Errors of math - 1-2%
Therefore, even if a company is getting it right 95% of the time, the 5% lost translates into millions of dollars of overspending on labor, materials and equipment.