Automated Labor, equipment, and materials tracking
The TRACK® Platform delivers an automated process to control, manage, and reduce contractor labor, equipment, and materials spend. The TRACK® Daily Settlement Process, unique to Management Controls, is a daily process which automatically determines Net Billable Hours & Costs which you and your contractors agree on (daily) before authorizing payment. Net Billable Hours & Costs are accurate, transparent and reflect the work that is “Earned” by your contractors. By applying the TRACK® Platform daily process, our customers achieve 10-15% in annual savings.
Streamline Business Processes
Eliminate manual time sheet processing, invoice handling, and post-invoice reconciliation.
Automated & Accurate Invoices
Automatically calculates contractually accurate labor, rates, and schedules to achieve net time.
Real-time workforce visibility and time on site.
Delivering daily visibility and control of contractor costs at the PO and WO level.
Labor Cost Tracking
TRACK's labor module helps plant owners manage the contractor time and billing process. TRACK supports Time and Materials contracts, as well as Lump Sum and Unit Price contracting strategies. TRACK's real-time labor cost management solution delivers hard dollar cost savings, administrative simplicity and maximum visibility into project costs and progress.
TRACK's labor module is the engine that makes it possible for companies to simplify their contractor cost management process and save millions of dollars in the process.
Automated collection of contractor work activity ensures accuracy and delivers controls.
Contract rules are applied to invoices to assure all contractors are paid based on agreed upon terms and conditions.
Correct allocation of all contract costs is ensured down to the task level of work orders.
Automates and streamlines contractor payment process. Significantly reduces audit and reconciliation time.
TRACK can answer the question, “Do we have the right labor and equipment here to complete today’s scheduled work?”
TRACK labor module, along with its equipment and materials modules, not only gives customers the necessary tools to capture that lost 5% (or 10, or 20...) in contractor spend, but also creates a greatly improved decision-making paradigm when it comes to capital projects or a shutdown/turnaround/outage.
Equipment Cost Tracking
Equipment costs account for 10-15% of maintenance spending and up to 20% during a turnaround. At any given time, cranes, trucks, and cherry pickers are either being utilized or sitting idle. The accountability, utilization, and cost of equipment are important elements that need to be addressed in the overall contracting, maintenance, and capital strategies.
The equipment module provides contractual and administrative benefits as follows:
The use of the TRACK Platform’s standard equipment definitions and rate formats enables the owner to obtain consistent bidding and easily facilitates bid analysis.
In addition to the standard hourly rate for the various equipment types, the owner is able to introduce into the bidding process a diverse set of additional bidding variables (daily, weekly, and monthly maximum billable hours) that create cost saving opportunities.
Error-free downloading of equipment rates via TRACK's import tool avoids costly mistakes during the billing cycle.
The successful bidder's rates are locked into TRACK eliminating unauthorized alterations.
TRACK ensures that "other" costs associated with equipment charges are contractually compliant; fuel, repairs, mobilization, demobilization, etc. can only be billed as stipulated in the contract agreement.
Avoidance of double billing, which often goes unnoticed if the invoices are routed to separate owner representatives.
Near-time (next day) allocation allows owner's representatives to closely link charges to the actual work performed in the field.
TRACK informs the contractor of what they have earned vs. relying on the contractor to invoice the owner for what they believe is owed.
TRACK automatically adjusts the rental cost allocated by the contractor when hour thresholds (daily, weekly, or monthly) are reached eliminating the contractor's ability to make these cost related decisions.
Error-free rate extensions within the allocation process since the equipment rates are locked into TRACK and cannot be modified.
The owner has the capability of comparing contractor rates for a specific piece of equipment across multiple vendors allowing selection of the most cost effective rental.
Timely cost reporting and historical data is retained in TRACK for future use and analysis.
Elimination of the paper intensive equipment rental process due to the paperless functionality of TRACK.
Potential for resource re-deployment -- move A/P clerks to TRACK administrators.
Materials Cost Tracking
There is often a significant delay between the delivery of contractor supplied materials and the submission of the actual invoice. In addition, many contractors buy in large quantities and split materials among many projects and company contractor coordinators. The administrative aspects associated with tracking and accountability for material charges is difficult and even more pronounced during major capital projects or plant outages.
These factors make it difficult for true validation of what was provided vs. what was billed to the job. Nevertheless the contractor and the owner's representatives are both expected to keep detailed records and be accountable for the spending. TRACK takes a major stride in eliminating the problems associated with contractor supplied materials in the following ways:
Timely and accurate allocation of costs to the specific jobs for which they were used.
Avoidance of double billing which often goes unnoticed if the invoices are routed to separate owner representatives.
Simplification of the validation effort required of the owner's representatives as it relates to contractor supplied materials.
Availability of historical purchasing information supporting accurate cost reporting, reconciliation and improved purchasing decisions.
Delegation of authority control over release of funds associated with materials purchased by contractors.
Elimination of the paper-intensive contractor supplied material process with the capability of scanning the contractor's material invoices and linking them to material allocations.
The potential for institutionalizing a more detailed and controlled work process for contractor supplied materials.