The Ultimate Guide to Risk Mitigation
Performing comprehensive due diligence before executing on a subcontract agreement or purchase order effectively assesses and analyzes various types of risk. Oversights in a subcontract agreement or purchase order, for example, can result in loss of revenue, a diminished reputation, and an impact on existing business agreements. Still, to mitigate risk, you also have to do something about those risks.
Pantera automates the subcontractor prequalification process, further allowing General Contractors, Project Owners, and even Developers to efficiently and effectively manage risk on their projects.
More Efficient Workflow
Pantera automates your risk mitigation process by streamlining your PreQualification workflow with an easy-to-use, customized interface. We also create a systematic approach to ensure the data is updated annually, semi-annually, or more often, depending on your organizational needs. Simply log in to your system, and review your data. From business financial background checks to specialized document collections and verifications, PreQualifications can be tailored to meet the needs of any organization, so your business can make knowledgeable contracting decisions.
Our PreQualification Team confidently and securely handles the entire process for you. Our team works directly with you regarding calculations unique to your wants by tailoring your prequalification details to your company’s needs. It allows for ratings and pass/fail options to be reviewed quickly within the interface. Pantera assists with permissions and negates viewing rights for specified colleagues or external partners.
PreQualification helps you avoid and mitigate risk by streamlining your process and working with your team directly. By collaborating with your team, we will determine when automated notices should be sent for updated details so that you can capture all missing items requested. Avoid problems before starting the project by reviewing all prequalification information directly in the same software as your bidding processes.
Additionally, advanced bidding platforms offer increased visibility as well. For example, the Pantera Tools platform offers Featured Placement for subcontractors. While using the Featured Placement, subcontractors will be shown at the top of a general contractor’s search result, aiding in getting you noticed before other subcontractors.