TRACK Platform
For most organizations dealing with large populations of contractors, the task of assuring contract compliance is daunting. There just aren’t enough people t...
Why Choose TRACK Platform?
Go for this if you’re dealing with contractor management and want to automate contract compliance and labor cost control. It helps you avoid overpayments and gives you clear, daily insights into project spend.
For most organizations dealing with large populations of contractors, the task of assuring contract compliance is daunting. There just aren’t enough people to properly control the workforce. Supervisors are stretched too thin and barely have time to initial the timesheets or approve an email. Approvals are given just so vendors can get paid. No time or upfront business processes exist to see if the terms of the contract are being followed. Time administrators and supervisors for both the owner and contractor don't know if terms covering over-time, double-time, craft and skills matching, hourly rates and more are being followed. Lack of ability to enforce contract compliance is a second root cause of overpayment in manufacturing companies. Track automates contract compliance. It keeps an electronic version of the terms and conditions in the database and applies those to the hours captured during the shift. Exceptions are highlighted and not processed automatically until a supervisor reviews and approves them. Track enforces a best practice of allocating 100% of contract labor hours, regardless of whether the contract is T&M, Lump Sum, or Unit Rate. Allocating 100% of labor hours ensures that costs are not allocated twice and provides an excellent work history. The historical data of actual effort for specific projects becomes invaluable information when planning future works. It is easier to choose what type of contract to use for specific projects when there is a clear understanding of the actual effort required to complete the project.