Procurement professionals can leverage their company’s spend through gathered data and safety statistics on their suppliers before they hire.
Companies that outsource work tasks to suppliers often devote a lot time and energy trying to decide on which supplier to outsource too. This typically involves a Request for Proposal (RFP) process but what if that can be sped up through contractor data gathered and provided by a prequalification service?
Prequalification is becoming a more common industry standard and CanQualify has a customizable service that’s easy to navigate and quick to process. You set the benchmark requirements of qualification and, after all the suppliers have been prequalified through the DocuQual process, your procurement department can quickly see how many contractors within your supply chain perform the same type of services. This can help you narrow down the suppliers you want to work with because if a supplier performs multiple different tasks, or covers multiple different regions, you can most likely negotiate a work-load discount if you offer a volume of projects to that supplier.
Our SafetyQual service can also quickly help you see which suppliers are performing better on safety stats. Procurement can award work to the companies less likely to cause an incident helping to reduce liability costs. Combining that with InsureQual will also help reduce risk because, knowing the supplier is adequately insured, helps reduce the overall potential of direct liability costs should an incident occur. This provides a better piece of mind and safer work environment.
Hiring clients that have multiple sites can leverage costs with suppliers that cover multiple regions or provide work nationally. Procuring a workload for a single company can help lower spend through larger singular contracts. Not much different from a bulk discount at your local warehouse store.
Contact CanQualify to learn more about how our Supplier Management solutions can assist in reducing the frustrating busy work of risk analysis often felt by procurement professionals.