Contractor Management - What is the Return on Investment?
Calculating a return on investment (ROI) or proving the “economic value” of a purchase is the foundation of any sound business investment. The return on some purchase decisions is so obvious that when the costs are weighed against the potential benefits, there is a collective exclamation of “Why didn’t we do this before?” Other situations, and most purchasing decisions, are less clear-cut.
With contractor and supplier prequalification and management, you’re balancing the potential of catastrophic risk with both direct and indirect costs. So how do you effectively and responsibly evaluate an investment in contractor management to derive the best outcome for your organization?
This recorded webinar outlines a process for assessing the economic value of investing in contractor compliance management. We will outline the business conditions that make contractor management an imperative for many businesses, including the expected costs associated with effective management. Next, we will consider the potential direct and indirect costs of “doing nothing;” that is, deciding against an investment in contractor management. Finally, we’ll explore the process of outsourcing compliance management to a vendor who offers a complete contractor management solution.
1) Assessing the economic value of investing in contractor compliance management solution
2) Real numbers and calculations to determine the ROI of a Contractor Management Program
3) The expected costs associated with effective compliance management
4) The potential direct and indirect costs of “doing nothing”
5) The costs and potential savings outsourcing compliance management to a vendor who offers a complete contractor management solution
Watch Recorded Webinar
Aaron Rudd, Vice President of Business and Product Development, BROWZ
Aaron is Vice President of Product Development and Safety Management. With more than 15 years of experience, including a leadership role at BROWZ since 2003, Aaron has supported some of our earliest clients. He is perfectly positioned to lead the Product Development & Safety Management function for BROWZ.
In this role, Aaron’s team has successfully launched many new solutions driven by our client’s evolving needs, including all aspects of workforce management, the financial stability indicator, and improved user experience. His team is also responsible for expansion of BROWZ Sure Audit, which includes Safety Program and Management System Audits.
Brett Armstrong, Vice President of Marketing, BROWZ
Brett Armstrong is Vice President at BROWZ. He's been with BROWZ for over ten years, and he's had experienced managing teams that have supported the world's leading organizations, during the implementation and ongoing management of supply chain qualification programs.
Earlier at BROWZ, Brett led the operations team for more than 7 years, this experience provides him today with the foundation and understanding necessary to support the communication needs of our clients and contractors.
Derek Borgert, Vice President, Chief Technology Officer, BROWZ
Derek Borgert is Chief Technology Officer and Vice President of Operations. With more than 15 years of experience in business and technology leadership roles, Derek is responsible for BROWZ technology and operations, including software development, infrastructure security as well as the operations team that supports contractors and suppliers.
Derek’s leadership in both technology and operational support gives him valuable insight into what’s needed to run a highly effective contractor management program.
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