The Paper Chase
There are about 4 trillion documents currently stored by businesses and government agencies in the U.S. Consider this from World-Scan Inc., a Virginia-based document storage and retrieval company:
- Every 12 file cabinets require one extra employee to maintain them
- It takes an average of 18 minutes to search for and find a filed document
- A misfiled document costs about $125 in the time it takes to find and refile
- A lost document can cost $350–$700 in labor
Certificates of Insurance and other vendor/contractor related documents make up a sizable portion of all these documents, as well as the time and costs described above. There must be a better way to manage these documents and costs...
There is... Periculum Services Group will efficiently manage the requesting, reviewing, validating and data entry of certificates, the postage involved in mail notifications, the cost involved in calling or faxing vendors. You don't have the cost of having your IT department buy a software solution, the set up cost, the updates, the fixes and the crashes. All of these costs and labor are part of what you are paying RIGHT NOW to track your certificates.
So ask yourself a question... you just got a letter informing you of a claim being brought against a former vendor, and of course, your company as well. You are the deep pocket after all. So, how hard will it be to get your hands on that certificate from 2002? Was the additional insured endorsement correct? Was he insured during the period of the claim? And how much time would it take you to find out all of those answers? With Periculum, you will have all those answers and more within 30 seconds.
The truth is, if you are using an in-house solution, you are probably spending more money now than you would with Periculum. Electronic records are growing at a clip of 80% in our country alone. Periculum Services Group will take your paper certificates and not only create an electronic record for your convenience, but will eliminate many of the labor dollars that go with it. And then we take that information and produce over 3 DOZEN unique and informative reports that you can use to help make your job easier and your company safer from liability. All of the reports are available 24/7 and will provide up to the minute details of the status of your vendors. Periculum Services Group truly gives you the ability to Find out What you’ve been missing.


