To consolidate bond renewals and bond documents, A1 Enterprise moves to release a bond risk management software module for a key US customer in the retail-convenience store and construction industry.
Bond management workflow empowers companies to streamline workloads to enhance vendor compliance, risk mitigation, and financial management. Additionally, with bond management workflow, a company benefits with transparency between organizations within bond agreements.
Bond workflow automates reduces administrative burden with automated notices to surety companies, bond obligees, and other parties involved ensuring on-time renewals. Bond documents are accessible for upload, audit, and retention. The A1 Tracker bond modules supports tracking and reporting of any bond types:
- Surety
- Bid and Procurement
- Contracts
- Performance
- Warranty
- Insurance
A1 Tracker is a tool that can extend far beyond bond renewals. Bonds contain inherent risks associated with 3rd party performance, product warranties, and insurance. When left unattended, an organization is vulnerable to consequences resulting in financial losses that extend far beyond the cost of a bond risk management software. Risk and insurance directors have a more clear picture of risks throughout the organization. Bonds do not go unattended, and bond obligees, surety companies, TPAs, and vendors can participate to ensure bonds are maintained.
Executive and financial reporting benefits with bond cost reporting that hold parties responsible for bond commitments:
- Premiums
- Fees
- Commissions
- Bond Amount
- Contract Pricing
A1 Enterprise supports your bond risk management team with the tools they need to bring more stability to your organization. Contact us for a free demo.
