Are you ready to take your company into major industries? If so, you’ll need to make sure you’re prepared for intense pre qualification requirements.
Pre qualification is usually handled by third party procurement databases. The databases ensure every company who wants to work with major industry players are compliant with industry regulations, remain up to date with industry changes, and monitor each company’s overall performance. Procurement database approval, especially when you achieve a high contractor rating, makes you more attractive to larger clients who offer bigger jobs or more generous payments. There are five main procurement databases, and each one operates slightly differently.
Five Procurement Databases You Should Know About
Procurement databases can work in your favor by speeding up the selection process for contracts by removing the need for each company to vet individual contractor compliance for every job. Since each procurement database has their own requirements, here is a brief overview of the five procurement databases you should be familiar with.
ISNetworld®
ISNetworld® is a centralized database procurement platform that primarily serves the energy, construction, and petrochemical industries. Information requirements include the submission of safety programs, employee training, insurance information, incident reporting, tracking of overall safety records, and other assessment tools. Once approved, there are on-site audits to verify the information you submitted is accurate and matches what is on file. This is followed up by job site audits to demonstrate you perform work according to the policies and procedures you provided.
Avetta
Avetta is another large procurement database similar to ISNetworld® in terms of safety submission requirements, tracking, insurance, document management, and overall contractor audits and assessments. However, they differ in a few significant ways:Avetta compliance requires additional information for large employers to consider when selecting contractors. Employers using Avetta come from a variety of industries, including aerospace, defense, construction, manufacturing, mining, oil and gas, and energy.
Avetta has unique solutions for identifying new contractors and suppliers, providing more diversity and inclusion in the selection process. They also have tools to gauge sustainability, which businesses are increasingly prioritizing. Avetta also has a larger global presence than ISNetworld®, opening up more markets for you outside of North America, which also requires you to meet additional regulations, depending on region and employer.
ComplyWorks
ComplyWorks’ procurement process works much like both ISNetworld® and Avetta, with a focus on rigorously pre qualifying contractors and service providers for compliance with safety, insurance, and other industry regulations. Like other procurement databases, they provide an efficient way for large organizations to reduce their risk and select the right contractors for the job. They serve a variety of industries, including transportation, manufacturing, forestry, energy, and construction.
ComplyWorks has a broad international employer base, serving over 120 countries. One difference with ComplyWorks is their geographic focus with a high level of pre qualification for each area they work in, right down to the local level.
Veriforce
Veriforce’s focus on the energy and pipeline industries, as well as a set of pre qualification requirements specific to those employers, is unique. Although their interface is widely considered easy to use, pre qualification is not any easier than other procurement sites. The same compliance to regulatory and employer requirements is expected and audited.
Veriforce is well established within its focus industries, which makes contractor selection extremely efficient. This means you need to have a well polished submission and excellent ongoing account maintenance to be compliant, ready to work, and attractive to employers. Like Avetta, Veriforce promotes contractor pre qualifications for environmental and social governance, including sustainability and diversity.
VeroDMS
VeroDMS is one of the most modern and intuitive interfaces, providing easy-to-use features and services. As a comprehensive procurement database, it focuses on regulatory compliance and risk management but performs additional services that make it attractive to certain employers across a variety of sectors.
VeroDMS is a highly customizable procurement database that integrates well with employer systems and software. This allows VeroDMS the flexibility to work with complex procurement processes that often require equally complex risk management and compliance standards.
When working in major industries, you may discover you will need to pre qualify on multiple procurement databases depending on the employer. Regardless of which database you engage with, a properly prepared pre qualification can enhance your reputation and get you noticed. However, the volume of work required to reach even the basic level of approval takes up a tremendous amount of your company’s resources. It is usually more cost-effective to bring in a pre qualification database expert.
Related Content: ISNetworld® Compliance: Tips For The Insurance Review Process
How a Consultant can Help with Procurement Database Compliance and Maintenance
Bringing a safety professional on board to help with pre qualification database submissions reduces errors and omissions, speeding up the certification process. They can quickly answer thousands of questions and submit the potentially hundreds of documents needed to qualify, and monitor your account to keep it compliant. A SafetyPro Consultant makes the process smooth, efficient, and can help improve your overall company database rating, providing you access to a wider variety of jobs, increased revenue, and company growth.
