Is critical information about your contractors stored in multiple departments, creating disconnected silos of information?
Most companies collect lots of information on the contractors that work for them, including:
- Certificates of insurance
- Safety records
- Bonding limits
- Financial strength
- Type of work they do
- Contact and purchasing information
- General conditions agreements
- Project capabilities
- Scorecards on their performance
- Site safety orientation records of the contractor’s employees
- And more!
The challenge most companies face is that each department becomes a “silo” of information that isn’t effectively shared with other departments within your organization, making it more difficult to manage risk. Having several locations can compound this problem by multiplying the number of silos.
Imagine the poor contractor who has to deal with multiple departments or locations asking them for information just so they can bid on your work.
The bottom line is disconnected silos of information cause a lot of wasted time, energy, and money. Not to mention, your ability to manage the risk introduced by these contractors is significantly compromised.
What are the possible solutions?
Some companies try to build their own information system while others try to tweak their ERP system to get it to perform this function.
The reality is that in-house systems require a lot of planning, programming, and resources that could be better utilized producing profits. ERP systems are really designed to run your business not to manage the contractors who service it. In either case, your employees are needed to manage the system and keep the information current. This is an expensive and time-consuming solution; and if a part-time assignment, prone to errors and omissions.
We have built our business to service this need.
FIRST, VERIFY reaches out to your contractors on your behalf and gathers the information into one online location where it is easily accessible by those who need it and have permission to access it. We keep your information current, provide live customer support and determine if the contractors meet your standards — all for a very low cost to you and your contactors.
Our program offers one place to:
- Mitigate Risk
- Prequalify Contractors
- Manage Certificates of Insurance
- Audit Your Contractors
- Manage Critical Documents
- Conduct Online Safety Training
Contact us today to learn more about smarter contractor/supplier management and how to close risk management gaps.