11/19/2022 0 Comments Track concatenator j![]() TRACK takes a major stride in eliminating the problems associated with contractor supplied materials in the following ways: Nevertheless the contractor and the owner's representatives are both expected to keep detailed records and be accountable for the spending. These factors make it difficult for true validation of what was provided vs. The administrative aspects associated with tracking and accountability for material charges is difficult and even more pronounced during major capital projects or plant outages. In addition, many contractors buy in large quantities and split materials among many projects and company contractor coordinators. There is often a significant delay between the delivery of contractor supplied materials and the submission of the actual invoice. Potential for resource re-deployment - move A/P clerks to TRACK administrators. Timely cost reporting and historical data is retained in TRACK for future use and analysis.Įlimination of the paper intensive equipment rental process due to the paperless functionality of TRACK. 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. 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.Įrror-free rate extensions within the allocation process since the equipment rates are locked into TRACK and cannot be modified. relying on the contractor to invoice the owner for what they believe is owed. TRACK informs the contractor of what they have earned vs. Near-time (next day) allocation allows owner's representatives to closely link charges to the actual work performed in the field. can only be billed as stipulated in the contract agreement.Īvoidance of double billing, which often goes unnoticed if the invoices are routed to separate owner representatives. TRACK ensures that "other" costs associated with equipment charges are contractually compliant fuel, repairs, mobilization, demobilization, etc. The successful bidder's rates are locked into TRACK eliminating unauthorized alterations. 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.Įrror-free downloading of equipment rates via TRACK's import tool avoids costly mistakes during the billing cycle. 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. The equipment module provides contractual and administrative benefits as follows: Contractual The accountability, utilization, and cost of equipment are important elements that need to be addressed in the overall contracting, maintenance, and capital strategies. At any given time, cranes, trucks, and cherry pickers are either being utilized or sitting idle. Equipment costs account for 10-15% of maintenance spending and up to 20% during a turnaround. ![]()
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