BuildPoint(R) Corporation, the leader in provider relationship management (PRM) for the construction industry, today announced that EMCOR Group, Inc. (NYSE: EME), the world's leading provider of planning, consulting, mechanical and electrical construction and facilities services, has selected BuildPoint to market EMCOR's 65 operating companies to general contractors. EMCOR and BuildPoint will work together to create and manage EMCOR company profiles for electronic distribution to general contractors. Profiles with basic information, including key contacts, regions served, and area of specialization, will be viewable in BuildPoint's Public Directory, open to all members of the construction community. In addition, more comprehensive profiles, including industry standard pre-qualification data and project profile sheets for each of EMCOR's companies, will be accessible to general contractors using BuildPoint's PRM 2 application. BuildPoint's customers, who include more than 50 ENR Top 400 general contractors, use PRM 2 for project bidding, pre-qualifying subcontractors, tracking subcontractor performance, and managing subcontractor information. Benefits to EMCOR include:-- Efficiency - centralizing pre-qualification processes and reducing the cycle time of responding to pre-qualification requests; -- Accuracy - providing the right subcontractor profile data to general contractors at the right time; -- Business Intelligence - historical tracking of pre-qualification information across all EMCOR companies; and, -- Profitability - visibility within BuildPoint's growing general contractor community and an increase in project opportunities. EMCOR sees its partnership with BuildPoint as a competitive advantage. "We are very interested in reaching out to the many contractors who follow their key clients in areas of the country where they haven't worked before. In these situations we want them to work with the EMCOR companies locally who have the expertise and knowledge to make their projects a success," said Rich Aquino, VP of Business Development for EMCOR Group. "We had been looking for a solution to replace a time-intensive, manual pre-qualification process. BuildPoint allows us to maintain electronic profiles so that any changes we make are now automatically proliferated to all general contractors using PRM 2 - that means no missed opportunities for us and better bottom lines for our companies."
General Contractors See Value in Accessing More Subcontractor Pre-qualification Information
General contractors are increasingly reliant on pre-qualification to mitigate their subcontractor risk exposure. Jackie Buck, R.D. Olson Construction's executive vice president of finance and administration, explained, "Not every sub we work with can get a bond, and if it's not in the budget, we have to self-insure. A good percentage of these subcontractors perform well. Since the insurance market has hardened, our job is much more difficult and risky, which is why best practices for pre-qualification are so important. We take on a great deal of out-of-state work, so we're always looking to build our database of pre-qualified subcontractors in the various markets we serve. The EMCOR profiles will enhance the value we receive from PRM 2."
Florian Aalami, founder and CTO of BuildPoint, added, "BuildPoint PRM 2 is a truly ground-breaking risk management solution that promotes the selection of the best qualified subcontractors. We're pleased to help our general contractor customers identify Emcor companies for their projects. It's a win-win for Emcor and our PRM 2 customers."
General Contractors See Value in Accessing More Subcontractor Pre-qualification Information
General contractors are increasingly reliant on pre-qualification to mitigate their subcontractor risk exposure. Jackie Buck, R.D. Olson Construction's executive vice president of finance and administration, explained, "Not every sub we work with can get a bond, and if it's not in the budget, we have to self-insure. A good percentage of these subcontractors perform well. Since the insurance market has hardened, our job is much more difficult and risky, which is why best practices for pre-qualification are so important. We take on a great deal of out-of-state work, so we're always looking to build our database of pre-qualified subcontractors in the various markets we serve. The EMCOR profiles will enhance the value we receive from PRM 2."
Florian Aalami, founder and CTO of BuildPoint, added, "BuildPoint PRM 2 is a truly ground-breaking risk management solution that promotes the selection of the best qualified subcontractors. We're pleased to help our general contractor customers identify Emcor companies for their projects. It's a win-win for Emcor and our PRM 2 customers."
