Automated COI Tracking Software vs. Using an Excel Spreadsheet
You might be surprised to learn that your current certificate of insurance (COI) tracking solution could use some improvements. Is it tedious, Time-consuming, confusing, overwhelming, or even worse - expensive!? If so, there’s a better way to do it!
For example: Using an Excel spreadsheet to track your vendor’s insurance and certifications is a rather outdated process. With all of the insurance tracking software solutions that are available to you today, it is time for an upgrade from your basic Excel spreadsheet. Automation, scheduled notices, and ease of use and organization are just a few of the many benefits of using a certificate of insurance tracking software. Many software solutions can make the process easier, faster, and more accurate. Here are some other benefits of using certificate of insurance tracking software instead of a spreadsheet:
- You can track expiration dates and receive alerts when a certificate is about to expire
- Automated renewal notices will proactively reach out to vendors and insurance agents for renewals. This will greatly reduce the chance of having a lapse in coverage.
- OCR Scans and COI Data extractors can automate some of the data extraction and data entry to save you a significant amount of time.
- You can easily access digital certificates and compliance records on site or at a moments notice.
-Plus the BCS software for COI tracking offers many additional features, like a pre-qualified vendor database, tools to streamline vendor onboarding, and the ability to send out automated RFPs.
BCS’s certificate of insurance tracking and vendor management software has an intuitive and user-friendly interface so you can really simplify the process. With cloud-based technology you can be sure your information is always up-to date and easily accessible.
No more scrolling through pages and pages of insurance policy information and endorsements to find errors or spending hours transcribing data. Start saving time, money, and resources by using our COI tracking solution!
