Avetta’s Subcontractor Management solution allows clients to search, add and manage compliance standings of subcontractors
Avetta Subcontractor Management
In March, Avetta, a provider of supply chain risk management (SCRM) software, announced an enhanced Subcontractor Management solution within the Avetta One platform. The solution gives clients visibility into their connected suppliers’ subcontractors that may pose hidden risks when coming onto a client’s site. The ability to manage both high-spend and low-spend contractors is easier than ever in the Avetta One platform, a single-source solution for managing operational, reputational and regulatory compliance risks.
According to an Avetta survey, about one-third of suppliers use subcontractors. Most organizations can focus only on top-spend suppliers, causing them to miss significant risks with smaller contractors and subcontractors in their supply chain.
The 2021 BCI Supply Chain Resilience Report says 59% of disruption in the supply chain comes from smaller contractors, subcontractors or lack of visibility into the supply chain itself.
Now clients can view their supply chain risk programs through the subcontractor level, observing multi-risk analytics, risk trends and performance benchmarking. Clients can access real-time insights on their subcontractors such as supplier and worker compliance, supplier onboarding progress, safety, financial, cybersecurity, diversity qualifications and sustainability risk by site, location and supplier.
Subcontractor Management provides data driven insights based on industry benchmarking, market trends and predictive recommendations. Data analytics dashboards provide a simple, succinct report on whether prime contractors and their subcontractors are fully compliant, building confidence in their supply chain. With Avetta One, customers and their suppliers improve 7-8% per year on safety measures after joining the network, while customers reduce administrative expenses on average by 75%.
“Our enhanced Subcontractor Management solution helps clients mitigate previously unseen job site risks by extending their compliance programs to all supplier tiers,” said Taylor Allis, Avetta’s Chief Product Officer. “This solution has the added benefit of ensuring projects are completed on time and gives suppliers a new network feature where they can source their own compliant subcontractors to deliver on large and complex client projects.”
Suppliers can add more contractors to their team by simply inviting other suppliers in network to connect or by inviting suppliers outside the system to join. Avetta facilitates this process, so proper client requirements are met before subcontractors visit the job site, and suppliers can build teams quickly and easily for large projects.
Subcontractor Management allows a contractor’s training requirements to cascade down to the subcontractor for overall approval. Clients have access to reports on their contractor and subcontractor statuses and receive notifications when their standings change. Other key features include:
- Ease of configurability: Avetta’s subcontractor management solution is immediately available when needed. Turn it on, and it’s done.
- Prime to subcontractor instant transparency: A connection request is all that’s needed for subcontractors to allow the prime contractor to see their information, providing full transparency of the subcontractor’s profile.
The feature is part of the Avetta One™ Platform, a global platform that manages critical risk areas in supply chains, creating the industry’s largest and most comprehensive supply chain risk management platform.
For more information visit https://avetta.com/subcontractor-management and https://www.avetta.com/avetta-one.
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