Track is the market-leading solution for owners and contractors seeking greater cost control, transparency and contract compliance. For two decades, refineries, chemical companies and power plants have been using Track to manage their contractor spend.
HOW DOES TRACK DO IT?
One of the strengths of Track's value proposition is 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 in 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.
Why invest in Contractor Cost Tracking?
The process of managing contractor spend is mission-critical to any large operation that involves millions of dollars of spending on contract labor, equipment and materials. Track Software empowers owners to gain greater control, visibility and savings.
BENEFITS TO OWNERS:
- Improved Visibility
- Contractual compliance
- Accurate hours and costs to manage projects
- Daily settlement with all contractors - no surprises!
- Real-time personnel and equipment information
- Cost Reduction
- Eliminate timesheet and invoice errors - 5-15% savings
- Puts supervision back into the field
- Eliminates timesheet and invoice disputes
BENEFITS TO CONTRACTORS:
- Improve Cash Flow
- On-time payments per the contract
- Eliminates invoice disputes with your A/P
- Increase Efficiency
- No time entry needed
- Clean invoice generated daily or weekly
- Enhance Productivity
- Improved employee accountability
- Supervisors in the field - not in the trailer!