The vendor required to provide insurance enterprise resource planning (ERP) system or module that enables procurement staff to effectively monitor contractor certificates of insurance expiration dates.
- Objectives
• Ensure continuous compliance with contractual insurance requirements
• Reduce the risk of uninsured contractors
• Improve efficiency and accuracy of certificates of insurance (COI) tracking
• Provide timely, automated notifications to contractors and internal stakeholders
- Requirement:
• Implementation of an ERP system or ERP module capable of tracking certificates of insurance
• Licenses for 3 authority users
• Uploading of authority current excel tracker for initial onboarding process
• Possibly configure contractor profiles and associated insurance requirements
• Automated monitoring of COI expiration dates
• Automated notification functionality to alert contractors and designated agency staff prior to COI expiration
• System security and access controls appropriate for procurement and compliance functions
• Compliance with applicable insurance, contractual, and regulatory standards.
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