Case Study: Major Steel Company achieves 8% labor savings and 18% equipment overbilling reduction with Management Controls myTrack

Procurement Manager Saves 8% on Labor and 18% on Equipment

A major steel company was facing significant challenges with systemic contract management issues and a lack of oversight for its service vendors. An internal audit revealed problems with vague contract terms, erroneous invoicing, and inadequate compliance controls across its over 30 facilities. The Senior-Level Procurement Manager tasked with solving this needed a way to scale and standardize processes beyond manual efforts. The company turned to Management Controls and implemented its myTrack software to address these vendor management bottlenecks.

Management Controls' myTrack solution automated contract management and provided standardization, giving the company real-time visibility into vendor billing. This prevented overbilling and streamlined vendor communications. As a result of implementing myTrack, the major steel company achieved an 8% annual reduction in labor overbilling and an 18% decrease in equipment overbilling. The software also secured previously missed equipment discounts and minimized time spent on vendor disputes.