The Results

  • COR Processing Time Improvement: 80.7% reduction in processing time
  • Annual Cost Savings: $190,313
  • Decrease in Days Aging: 22 days

Eliminated Lost Revenue Before Extracker After Extracker
# of Projects/Year 35 35
Avg. T&M Tags/Project 25 25
Average Revenue/T&M Tag $2,500 $2,500
% of Rejected or Lost T&M Tags 4.5% 0%
Lost Revenue $98,438 $0
Lost Revenue Savings $98,438
Administrative Time & Cost Before Extracker (minutes) After Extracker (minutes)
Complete Tag and Transport to Office 50 5
Compile Documentation
& Create Change Order Request
35 Automated
Update Logs, Review GC Comments,
& Revise COR
45 20
Blended Hourly Rate
(Foreman, PM, Admin)
$60 $60
Annual Total Administrative Cost $113,750 $21,875
Annual Cost Savings $91,875

Challenges with T&M tags prior to using Extracker

Prior to using Extracker, Marinship used paper/carbon copy T&M Tags. Foremen completed the tags in the field, then transported them to the office where they were scanned and logged. Once the scope of work was complete, the extra work was priced in an excel spreadsheet and submitted to the client with supporting documentation. Challenges with this process included:

  • Lost/unsigned tags
  • Delays getting the tags to the office
  • Delays obtaining signatures
  • Time spent pricing extra work
  • Scattered/incomplete information and documentation

T&M Tag Process

 

"As an LBE company, our reputation is vital. Extracker allows us to provide something that most of our larger competitors struggle with–real-time cost impacts. We get more work because of this value-add."

Nima Haghbin
Project Manager, Marinship Development Interest

Challenges with change orders prior to using Extracker

Prior to using Extracker, Change Orders weren't priced and submitted until weeks or months later, creating a lack of transparency about project financials. The process was very manual, involving Excel spreadsheets and compiled project documentation from various sources. When revisions were required, the entire package would need to be recreated. This resulted in the following challenges:

  • Delays in getting Change Orders approved
  • Change Order Requests getting lost in email
  • Manual updates of Change Order Logs

 

Results after using Extracker

Using Extracker to digitally process T&M Tags and Change Orders has saved Marinship both time and money. They've also improved client relationships by providing real-time cost impacts to their clients.

Before Extracker, processing a Change Order Request could take over five hours of administrative time, not included the time spent transporting T&M Tags from the field to the office and processing delays while tags sat in trucks and inboxes. Now, Marinship takes less than 30 minutes on average to compile and submit complete Change Order Requests.

“We will never go back to paper T&M Tags after using Extracker.”
- Nima Haghbin, Project Manager, Marinship Development Interest

Extracker saves Marinship hours of time and thousands of dollars in administrative costs when processing Change Orders. Extracker enables the project administration team to spend less time tracking T&M Tags and creating Change Order Requests, which allows them to spend more time on running their projects smoothly.

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