Case Study: a major U.S. chemicals company achieves 95% cost certainty with Management Controls' TRACK

Chemical Company Gains 95% Cost Certainty with TRACK

The Leading Chemical Company, a major U.S. chemicals market leader, faced significant challenges with managing its contractor workforce. The company had no confidence in its cost reporting, which was often off by as much as 25%, and struggled with a lack of visibility into manpower, equipment, and contractual terms. This led to late invoices and budget uncertainty for its maintenance and turnaround projects, prompting them to seek a solution from Management Controls.

Management Controls implemented its TRACK contractor spend management software to address these issues. The solution provided the chemical company with 95% cost accuracy in real-time, eliminated late invoicing, and delivered full visibility into on-site labor and equipment. This resulted in identified savings of over $2.6 million from a case study with its top vendors and allowed the company to maintain its facility effectively despite a frozen budget.