8 Ways the myTrack Platform Differs from a Vendor Management System(VMS)

Can your VMS ensure you are paying your contractors correctly?

A vendor management system (VMS) is an application to procure and manage staffing services for contingent workers. The complexity of maintaining consistent contract terms, conditions, and, rates and schedules across multiple locations and thousands of contractors/vendors extends well beyond the scope of a VMS. Our myTrack Platform is the market lead in true real-time contractor billable hours management that allows owners to agree and authorize their supplier's invoices. More importantly, invoices are true and accurate, eliminating millions of dollars in overspend. A VMS could help businesses source contractors, but myTrack will ensure they maintain compliance and are paid based upon what they have earned. 

VMS systems certainly have a place in helping to procure labor services. However, they are not equipped to enforce the terms, conditions, rates, and schedules of the contract that apply to these services. Owners lose millions of dollars a day by paying at gross hours versus net billable hours. The myTrack Platform is the premier contractor management solution used at over 300 industrial sites, including over 90% of North American refining capacity. 

Here are 8 ways our myTrack Platform differs from a VMS:

1. We specialize in managing craft labor, equipment, and materials by vendor using myTrack pay formula and schedules.
2. myTrack manages all contractor labor, equipment, and material terms, conditions, rates, and schedules. 
3. Owners can achieve optimal usage fees for equipment on a daily, weekly, and monthly basis per vendor through automated contract rate enforcement. 
4. Our contractor management platform enables owners to breakout routine maintenance, STO projects, and capital project agreements every day per contractor. 
5. We enable owners to track transit time by calculating the distance/time/costs per contractor between multiple work/site locations. 
6. Owners can allocate across multiple vendor crafts/rates per contractor per shift.
7. Owners can calculate spend/progress across projects or work orders for labor, equipment, and materials per contractor. 
8. Track calculates accurate invoices for each worker, based on what is actually earned versus presumed earned.    

The myTrack Platform

Your Premier Contractor Management Solution

The myTrack Platform goes beyond just contractor management. Our years of expertise mean we truly understand the owner/contractor dynamic and what is needed to ensure accuracy and control. Our myTrack Platform incorporates innovative tools and services to help our clients realize continuous value and a great experience.

Contractor Management

Streamline contractor management business processes through automation                                                                                                           

On-Time - On-Budget

On-time and on-budget project forecasting and accuracy 

Visibility

Get a view of what is really happening at the site level

Insights

Identify trends and themes that are occurring and make course corrections                                                                                                            

Mobility

Enhanced visibility and control over remote work locations through mobility

Customer Success

We work to ensure our clients realize continuous value and a great experience     

Let The Experts Do The Work For You

MCi has over 200+ years of combined experience with the myTrack Platform - let our experts execute the myTrack daily settlement process as a service on your behalf