A group of general contractors are investing in a new, web-based prequalification process called COMPASS.
The software service will gather, organize and analyze subcontractor data from multiple sources.
Pomerleau, EllisDon, Aon Risk Solutions, Lumbermens Construction Credit, Bird Construction, Clark Builders, SKYGRID Construction Inc. and Sterling West Credit Corp. are all working collectively to fund development of the technology.
"Partnering with other firms who have an interest in subcontractor engagement is a win-win for the industry and ensures that stakeholders are well represented and well served," said Pomerleau spokesperson Carolyne Van Der Meer.
"The use of COMPASS will deliver general contractors (GCs) and subcontractors a more streamlined prequalification process. Furthermore, no GC can change the Canadian construction industry on its own. This program provides a vision with common goals. Subs/trade partners know what to improve to be qualified."
According to Pomerleau, the investment will enable it to efficiently prequalify trade partners as the practice is a relatively new one in Quebec.
"Pomerleau wants to ensure that this practice is made available in the Quebec market in a manner that is advantageous for all stakeholders," said Van Der Meer. "The goal across the board is to increase the quality of our services, of our products and to better control risk."
The process aims to be a one-stop procedure whereby subtrades need only submit their confidential information once to a central system. This eliminates the need to undertake individual prequalifications with many GCs.
COMPASS is co-owned and operated by an independent third-party, Bespoke Metrics Inc., which is a web-based software that will gather, organize and analyze subcontractor data from multiple sources. According to Van De Meer, it produces an unbiased and consistent assessment of execution ability and financial capability, a ranking by trade type and insights for subcontractor prequalification, while maintaining subcontractor privacy.
She explained that a program like COMPASS also results in better collaboration between stakeholders.
"The result is that everyone gains cost, schedule, health and safety, quality and relationships benefit during and after the project," she said. "Furthermore, selecting from a group of prequalified partners allows for better risk management."
She noted the program also benefits subcontractors and trade partners by centralized data collection for multiple GCs, protecting raw financial data, standardizing risk assessment procedure and more.