Risk Management to Augment Bid Management
In what is the second acquisition for Pantera Global Technology, www.panteratools.com, Scottsdale, Ariz., within the last year, the construction bid and project-management solutions provider has acquired subcontractor risk mitigation firm ProQual Verified, http://proqualverified.com, Dallas, Texas. Pantera previously purchased Plan Express, https://planexpress.net, Memphis, Tenn., bolstering its client base among large retailers and GCs (general contractor).
“Risk management and subcontractor prequalifications are essential components of general contractor business practices,” explains Karen Herrera, founder of ProQual, which has developed collection and verification of subcontractor qualification documents, certifications, insurance and financial data, and other qualification requirements associated with GCs’ subcontractors, vendors, and suppliers.
ProQual Verified and Pantera collaborated on the creation of the “Verified Network,” a construction industry offering that collects and verifies subcontractor credentials to provide substantial risk mitigation and cost savings to GCs. Pantera’s Verified Network is available to all Integrated Plan Room users, and is just one of the tools dealing with risk management that Pantera has launched for 2016.
In conjunction with the purchase of ProQual, Pantera will be adding Herrera to its executive team as senior vice president of sales and marketing. “Bringing on Karen is a huge boost to our team,” remarks Pantera President and Founder DeWayne Adamson. “Her position as one of the brightest thought leaders in construction risk management will be an invaluable addition to Pantera.”
Want to tweet about this article? Use hashtags #construction #software #technology #riskmanagement