The Numbers Don't Lie


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The Numbers Don't Lie

  1. 1. The Numbers Don’t LieFor all of our clients at Assurance Screening who are utilizing our subcontractor/vendor screening services, weprovide to them confidential reports which we call our Status Update Reports. These reports are designed to showour clients the statistics regarding their current subcontractors, whether they are currently in their database, orbeing asked to go through the screening process to become one of their pre-screened bidders for a job orcontract. Below are samples of the findings we have discovered for some of our clients. The numbers dont lie.9.27% of the subcontractors/vendors for a client were not registered with the state in which theywere attempting to do business/or were not in good standing with that state23.12% of the subcontractors/vendors for a client had bankruptcies, tax liens and/or judgmentsfiled against them19.84% of the subcontractors/vendors for a client did not have the proper type of insurancecoverage amounts required by their contracting requirements34.41% of the subcontractors/vendors who were bidding on a job for a client did not have therequired trade license requirements for the job they were biddingYes, these numbers not only dont lie, but they are concerning. I havent even touched on those subcontractorsand vendors who qualify for a contract or job, but then a couple months in change, alter or cancel their insurancecoverage. Yes, cancel.What does this mean? It doesnt take a math scholar to see the causes for concern here. Knowing this type of datais one of the steps needed to implement a plan of action to address any issues. At Assurance, we help make ourclients jobs easier. Our job is never to make the final decision on contracting to a vendor or subcontractor, or anydecision on that matter. Our clients trust, while Assurance verifies.At Assurance, we want to make sure a couple of things are occurring, as well as a follow up. First, we work withour clients subcontractors and vendors to make them aware of their lack of compliance, and put follow ups inplace to communicate where they are lacking to help them shore up the gaps. Secondly, we also provide copies ofthe reports to any subcontractor or vendor who requests a copy, so they can know where they stand on otherdiligence we perform for our clients to review. Ignorance is never bliss for either party involved. Since knowing ishalf the battle, any causes for concerns can be addressed up front and our clients and their subcontractors andvendors can work together to get on the right track. In the end, its always better to Be Sure.-Karen Herrera Adamson, President & CEO of Assurance Screening, LLC ©2011 Assurance Screening, LLC