Article content provided by Bespoke Metrics.
Bespoke Metrics has developed a better prequalification experience for Subcontractors to alleviate form fatigue, enhance data ownership/privacy, and improve feedback and transparency.
During these uncertain times, Subcontractor risk management has been essential to ensure the integrity of the construction supply chain. As we approach The Great Expiry, the majority of Subcontractors will be required to renew their prequalification to meet existing job requirements and be eligible for future bid opportunities. SMACNA members that use COMPASS will be able to streamline this process and bring much-needed efficiency to our industry.
Unique to COMPASS, Subcontractors update their information once per year through their standard 1Form to satisfy all data requests securely and efficiently.
During The Great Expiry, COMPASS aims to disconnect prequalification timing from project start to minimize last-minute rush prequalifications that may jeopardize the job. By being proactive, Subcontractors are better prepared to discuss their prequalification with General Contractors, increasing their chances of being awarded larger contracts and more business opportunities.
In this industry where there is a race to the bottom, prequalification not only ensures all parties on the job site are capable of meeting contract obligations, but promotes quality-based selection, which further protects margins and interests. While there is a cost for COMPASS, prequalification benefits the industry, and the responsibility and costs should be proportionately shared across the supply chain.
Learn more about how using COMPASS can benefit your business.