Management Controls Unveils Next-Generation Contractor Cost Management Software; Offers Unprecedented Transparency, Control, Savings

Announces Major New Customers; Deployments at More than 60 Percent of U.S. Refining
Houston, Texas — March 2010

To address the needs of industries frequented by project cost and schedule overruns, Management Controls, Inc., the leader in contractor cost management software, today announced expanded features and functionality for its flagship solution, Track™. The solution provides refineries, other large process industry manufacturers and their contractors with daily cost transparency, control and accuracy in managing costs and timely payment processes for complex, contractor-intensive projects. By fully automating these processes, Track software version 6.1 enables owner/contractor teams to keep projects on time and on budget. It also ensures contract compliance, and enables timely payments.

Management Controls today also announced major new customers, including ABB, INVISTA, Petrobras, PNM and Shell. These new customers broaden Management Controls’ position as the leader in contractor cost management software in North America, controlling more than $5 billion in annual contractor invoices. With these new customers, the company now has licensing agreements with 26 major U.S. refining and industrial manufacturing enterprises at approximately 115 sites. Its software is deployed at more than 60 percent of overall U.S. refining, including 23 of the 25 largest refineries in the U.S.

Management Controls also today launched Track Administrative and Business Services, a value-added service to Track software clients. The new service offers Track-certified project support services during peak workloads, such as turnarounds, and capital projects.

“Managing large complex projects and making accurate, timely payments to contractors is a challenge for both project managers and contractors,” said Bob Harrell, president and CEO, Management Controls, Inc. “Many projects are late, over budget and end up mired in payment disputes. Track software solves these problems, giving owners and contractors control and visibility into timesheet and billing details, and helps guide projects to timely, on budget completions. Using Track software, companies can realize 5-10 percent savings on all types of work: routine maintenance, turnarounds and construction projects, often resulting in millions of dollars a year.”

"We are very pleased that we returned our full investment in Track software from the savings during a single turnaround,” said Don Greene, Plant Maintenance Supervisor, Lyondell Houston Refining. “Track software also helped us identify areas where our processes and contract terms were not being properly executed. The new controls will help us to save about 5 percent of our annual spend for outsourced contractors. We received excellent support from Management Controls during the implementation project which was completed in less than 90 days."

Track software solves the cost control challenges faced by contractors and project managers when hundreds or thousands of contractor craftsmen work each day. In these chaotic environments, it’s difficult, if not impossible, to stay on top of individual craftsman hours, activities and costs. Track software provides the visibility into actual hours worked and alerts project teams to cost overruns before they get out of hand. The solution eliminates the need for contractors to complete paper-based timesheets and electronically generates invoices based on accurate hours and contract-specific terms, conditions and rates. Because it accurately calculates contract labor, materials and equipment charges, Track software minimizes disputes and helps ensure timely, accurate payment to contractors.

In addition, a key feature of the solution, Track Analytics, provides users with an advanced dashboard containing key performance indicators (KPIs) that enable them to monitor contractor spend over specified periods of time and leverage that insight for project planning, scheduling and control.

Track software is implemented in eight to 10 weeks and delivers a payback measured in months. The solution easily integrates with existing ERP, CMMS (Computerized Maintenance Management Systems) and other systems. Track software is enterprise scalable, and offers multi-language and multi-currency capabilities. The new version facilitates easier data access and sharing enterprise-wide.

About Management Controls – Founded in 1989, Management Controls, Inc. is the leader in contractor cost management software. The company’s flagship product, Track software, automates the entire financial management processes of contractor projects within large industrial process manufacturing plants – from time capture through invoicing, typically delivering 5-10 percent savings annually. It provides owners and their contractors with real-time transparency, accuracy, contract compliance and control of project costs – helping them complete projects on time and on budget, and minimizing plant downtime. Management Controls has licensing agreements with 26 major U.S. refining and industrial manufacturing enterprises, at approximately 115 sites, including 23 of the 25 largest refineries in the U.S., such as ExxonMobil, Chevron, Shell, ConocoPhillips, BP, Valero, Tesoro and many others.

In addition to Track software, the company offers Project Cost Forecasting, Track Mobile for field data gathering and Track Administrative and Business Services. The company is privately held and based in Houston. More information can be found at www.tracksoftware.net.

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Track is a trademark of Management Controls, Inc. All product names mentioned herein are trademarks or registered trademarks of their respective companies.

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