CEO Today Magazine March 2019 Edition

www.ceotodaymagazine.com HALL OF FAME 46 contractor, the worker, and not the internal employee. The trend of safety start- ed in earnest 40 or 50 years ago, and that has been a very powerful and positive thing. However, most of what’s out there today are these big enterprise clients either managing their supply chain and risk management themselves, using home- grown solutions that may not be done very well, or not taking risk management into account at all. When upgrading to professional services like Avetta, we make the process simple so that it can also be cheaper, faster and more thorough with better safety outcomes. What procedures are in place at Avetta to estab- lish the validity and level of risk one might face with their potential supply chain partner? We start out with our mas- sive question engine, tai- lored to the clients, which is used to collect data from safety manuals, insurance, incident reports, fatalities, accidents, environmental incidents and so on. We verify this and then conduct a safety audit of them. All of this data is then enclosed in our system and in the software. Because this is custom-configured for the client, what may be a red flag for one client could be a yellow flag for another, or a green for another—it’s completely customized to them. What value do these ser- vices offer for suppliers and contractors? The two-sided customer model means that on the cli- ent’s side, it’s cheaper, fast- er and more thorough with better safety outcomes. This can take a lot of resources and be highly expensive and cumbersome, so most companies don’t do our depth or scope of vetting, which can lead to major lawsuits, accidents and death; this in turn leads to legal costs (litigation, settlements, etc.), loss of company focus and reputational or brand dam- age. When you have a lot of safety and risk issues, your quality, efficiency and pro- ductivity is hindered. On the client’s side, there is a whole host of benefits from saving lives to saving money. On the supplier’s side, it’s about keeping their workers safer. We make sure that our suppliers have adequate and proper insurance coverage, and by creating partnerships with insurance companies, we could save them 10 - 15% of the price and get them better coverage. In fact, we just launched the Avetta Marketplace—an online platform provid ing our network commu- nity of clients and suppliers access to discounts on safety training, insurance, PPE, tools & equipment, travel, internet & software, office supplies, payroll tax services, fleet services and more. We’ve always had a job- creating function where we try to match good contractors to clients, because when you help a small business find work