equipment and materials modules: why you need them
DESCRIPTION
TRANSCRIPT
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Equipment & Materials Modules:Why You Need Them
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The Approach
Materials Module
Equipment Module
Questions & Answers
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Let’s Get Started
How Many of You Use
the Materials Module?
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Materials Basics (Two Types)
Receipt Required• The contractor allocates materials costs but
since they are variable there needs to be documented back up
Rate Defined• Rates pre-defined for specific materials
allowing allocation ONLY for that amount.
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Materials BasicsRate Defined
Pro• Controls locked in for
materials with negotiated rates such as project consumables
Con• Where costs vary money
could be lost if the material was purchased at a lower rate
• Does not work well for one-time purchases
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Materials Basics
Receipt Required• The contractor allocates materials costs but
since they are variable there needs to be documented back up
• Attach a PDF of the receipt for allocation
The Track advantage can best be described by examining the “receipt required” work flow
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PurchaseDocumentation
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Materials - “the old way”
ContractorPurchased
Material
RequestorSign Off
On Receipt
A/PProcessing for Payment
PurchaseDocumentation Purchase
Documentation
ContractorInvoice
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Materials - “the old way”
A/PProcessing for Payment
PurchaseDocumentation
The Problems –• Time delays• Split deliveries• Filing systems / retention losses• Internal paper flow
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PurchaseDocumentation
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Materials - “Receipt Required”
ContractorPurchased
Material
RequestorSign Off
On Receipt
A/PProcessing for Payment
ContractorAllocation
PurchaseDocumentation
Attachment
Approval
PurchaseDocumentation
Attachment
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Next…
How Many of You Use
the Equipment Module?
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Equipment
The Equipment Module offers two significant benefits
And one not often recognizedcontract bidding and management
One easily recognized work execution
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Equipment Module Rate Options
Hourly & Daily• Hourly rate with or without idle rate• Hourly rate with daily max with or without idle rate• Daily flat rate
Base / Over, Weekly / Monthly Rate• Hourly rate for base hours + over rate with or without idle rate• Weekly maximum hours with or without idle rate• Monthly maximum with or without idle rate
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Equipment Module Benefits
Work Execution• Near time review (next day allocation) allows company
personnel the ability to closely link billing to actual work in the field
• Error free charging, rates are locked in the system • Track automatically adjusts when hour threshold (daily,
weekly or monthly) is reached• Simplified ability to compare equipment billing rates for a
piece of equipment across multiple vendors • Internal resource re-deployment (A/P clerks to Track)
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Equipment Module BenefitsContractual (Bid and Bid Award)• The owner defines the rate structure to optimize their cost
advantage• Using Track’s format enables a consistent bidding process • The owner is able to introduce a standard set of equipment
bidding variables• Standardized equipment definitions enables ease of
comparison • Error free input with owner’s sign off as a controlling factor• Successful bidder’s rates are locked in
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Conclusion
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Labor – Equipment - Material
Three parts of the comprehensive Track deliverables
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