Whether you work in supply chain management, industrial manufacturing, construction, or another high-risk industry, you're probably familiar with Avetta. Businesses across the globe use this risk-management platform to connect with the best clients, contractors, and suppliers.
Being Avetta-compliant opens you to a broad network of potential contractors and suppliers. This certification shows you can meet all client requirements and specifications on Avetta. Not having it can cost you money, depending on your industry. In high-risk fields such as oil and gas, some businesses will only work with compliant suppliers.
Understanding Avetta Compliance
As supply chains have grown more complex, managing risks associated with partners and suppliers is a necessity. Avetta is a cloud-based risk-management platform with detailed information about supplier performance, safety records, financial stability, insurance coverage, and more. Having supplier data in one place saves you time on supplier evaluation.
To be compliant, you need:
- A current certificate of insurance
- Health, safety, and environmental programs based on your work and your location
- An experience modification rate letter from your insurance provider
- OSHA 300 logs and forms
Factors Influencing Avetta Compliance
Avetta charges an annual fee for its Contractor Approval Program. This fee is based on how many clients you serve and your company's location. The platform offers different pricing models based on business size. You must also pay a registration and setup fee, plus annual renewal fees.
Breakdown of Avetta Compliance Expenses
You'll need to become a member to be Avetta compliant. You can choose from a variety of subscription tiers, from member to premiere. However, the company does not verify your insurance policy at the lowest level. The company does not publish its pricing, but you can call them for a demo and compare pricing options for your business.
Along with the subscription, you'll pay to have your company audited and to get the required documents. Consulting firms charge a fee to audit your business, so find one that offers the services you need within your available budget.
If you need other certifications based on the nature of your business, you may need to cover training and certification costs. For example, forklift operators need to be certified under OSHA regulations. If you work with hazardous materials, you'll need various certifications for handling and disposal.
Comparing Avetta Compliance Costs to Other Procurement Databases
Becoming Avetta compliant is a considerable expense, so how does it compare to similar databases?
ISNetworld®
ISNetworld® is another procurement database primarily serving the energy, construction, and petrochemical industries. Avetta covers a broader range of industries and has more features, such as sustainability compliance. Avetta also has a larger database, allowing you to find more potential suppliers and supply chain partners.
ISNetworld also offers a mobile app and has a global reporting tool.
Other Procurement Databases
You have multiple procurement databases for finding and vetting suppliers and supply chain partners, including:
- Veriforce
- VeroDMS
- Appruv
- Compass
Of these, Avetta offers one of the most extensive networks. However, some users like Appruv's interface better. Appruv is also less expensive, but its network is more limited by industry than Avetta's. Before choosing a procurement database, assess your needs and budget.
How To Get Avetta-Compliant
To get started on the compliance process, create an account. Go to Avetta's website and click "Supplier Registration." The registration form is easy to fill out with step-by-step instructions. You'll need to fill out your contact, company, and account information.
Avetta compliance requires you to meet rigorous standards. Before you start the process, ensure your internal processes meet Avetta's guidelines and that you comply with all your industry regulations.
SafetyPro Resources offers compliance audits and other services to help you achieve Avetta compliance the first time you apply. We're familiar with Avetta's requirements and can assess your processes, procedures, and all your existing documentation to ensure you have everything you need to get approved.
Benefits of Avetta Compliance
Auditing your policies and procedures and paying for compliance is a long process, but it's worth it. Becoming compliant shows your dedication to safety and risk management. To achieve Avetta compliance, you need a proven risk management plan and a demonstrated commitment to safety. Taking the steps to achieve compliance already boosts your safety and risk management practices.
Avetta compliance also shows potential partners you're trustworthy and offer high-quality services. You can improve your reputation while making it easy for potential clients and vendors to find you. You can also use Avetta's extensive network to find more valuable, higher-quality contracts.
How SafetyPro Resources Can Help With Avetta Compliance
We can help you navigate the compliance process by conducting a gap analysis. We will audit your workplace to assess potential risks and hazards and develop recommendations to fill in existing gaps.
We also develop compliance plans. Our team stays updated on compliance regulations in multiple industries. We will assess your workplace and create strategies to help you meet regulations. We tailor our plans to your needs, detailing how to identify and mitigate risks, respond to accidents, and stay compliant.
Following the gap analysis and compliance plan, we will provide training and support to your management team and staff.
You don't have to go through the Avetta compliance process alone. Let us help you apply for and achieve compliance to broaden your network and enhance your reputation. Schedule a consultation today.
