Why Manual COI Tracking is Killing Your Productivity

One of the biggest problems facing project managers and construction executives is their inability to collect and track COIs effectively. A necessary part of business operations but many continue to manually collect and track these documents around important milestones like the start of work and closeout. The only problem with this approach is that it’s time-consuming and inefficient. In fact, using manual COI collection methods can cost companies between $150 and $190 per request. 

There are many moving parts involved in gathering COIs and managing the whole process well. You first need to gather information about the sub-contractors, either through phone calls or email. Then you need to follow up when you do not receive the sub’s COI in a timely manner. And finally, you need to store the COI for future reference — but it can be difficult to keep track of all those documents and organize them correctly so that you don’t end up losing any of them. 

If you’re doing your work manually, you’re losing opportunities for insight. While having someone in charge of COIs is important, completing this process manually leaves room for human error and can be a huge administrative burden. It's a best practice to utilize specialized tools and technology to track and manage certificates efficiently and accurately.

How to Automate Your Processes

With Intelligent Automation you can keep all your documents in one cloud-based platform, eliminating the risk of loss or outdated information. The software will proactively communicate when documents are expiring or missing and request compliance requirements to the involved parties using pre-established templates.

To eliminate the manual processes involved and ensure full compliance with insurance regulations, use PINS. Leverage this technology to instantly request and receive COIs from all subcontractors on your PINS platform, receive an alert when a subcontractor’s COI is about to expire and give every department direct access to COI data in order to avoid data silos.

Need a closer look? Let’s review this ROI scorecard from PINS: 

When was the last time you checked for productivity gaps in your COI process? Chances are, you could benefit from COI automation like PINS.