Contractor Management: What to Look for in a Third-Party Provider
Jan 29, 2018
To ensure accurate, cost-effective contractor compliance management in today’s complex regulatory environment, companies need software systems that do more than just automate manual processes.
They need to implement industry-specific best practices and have the right support to maximize efficiency while ensuring quality of safety.
At the heart of their compliance management solution there needs to be a risk assessment engine sophisticated enough to handle the multiple levels of risk that contractor management presents.
What should you look for with a third-party provider?
- Advanced technology
- Advanced risk assessment engine
- High-quality data center to ensure 99.99% availability
- Intuitive icons that show immediately compliance levels
- Ability to collect data for a single job function
- Override function with tools for documentation and notification of event
- Multi-lingual capabilities
- Flexible enough to integrate with ERP system
- Systematic background checks on contractors
- Strengthen relationships with contractors
- Best practices
- Web-based software application
- No software to install, maintain, or upgrade. Just type in a URL to login and access the system.
- Accessible online, 24/7 from any computer with an internet connection
- Assistance for setting thresholds
- Advice on industry-specific thresholds
- Advice on location-specific thresholds
- Industry benchmarks and outcome reporting
- Alerts for notifications of important events
- Expirations of insurance policies, certificates or licenses
- Changes made to insurance policies
- Data verification to reduce/eliminate manual entry errors
- Safety manuals, task- and site-specific training requirements to ensure they meet industry standards
- Fair pricing model to reduce costs
- No hidden fees or per-site association charges
- Active and personalized back office support
- Data entry support
- Data maintenance
- Alerts for expiring documentation
- Single point of contact assigned to every customer
- Contacts become familiar with every account
- Proactively contacts every contact to ensure the highest level of compliance
- Technical support on compliance questions
When it comes to compliance management solutions, service is as important as software
Fortunately, complete solutions that meet all these requirements are available and already widely used in many industries.
Such industry-leading solutions provide advanced technology to handle widely varying levels of risk.
They provide services to implement best practices and supplement the technology.
And they help strengthen relationships with contractors by providing additional professional services for a wide variety of contractor specialties.
To learn more about challenges companies face and third party solutions, download the eBook ‘The Five Most Common Challenges of Contractor Qualification & Management.’
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