Broadway Construction Group

Broadway Construction Group Improves COI Tracking & Compliance Management with Billy

Broadway Construction Group is a construction management and general contracting firm that specializes in complex residential, hospitality, commercial, and retail projects. Broadway Construction Group has built a reputation as a top New York Metropolitan Area construction firm, known for flexibility across diverse asset types and expertise in challenging ground-up and conversion projects. Their portfolio of work spans more than 8 million square-feet of commercial property on behalf of the area’s leading commercial developers.

David Rivera, Director of Operations at Broadway Construction Group, is a key figure in overseeing the company’s diverse range of construction projects. In his role, he manages all aspects of insurance compliance and risk management. Within David’s role, he ensures that all compliance standards for all projects are met with precision. 

Facing Time and Resource Obstacles with COI Tracking

Risk transfer from contractual liability and non-compliance is a significant concern in the construction industry, making construction risk management a vital part of the industry. Insurance plays a pivotal role in mitigating potential hazards. Broadway Construction Group faced significant challenges in handling insurance and compliance for their subcontractors. The traditional methods they used—relying on emails, Excel spreadsheets, and even fax machines—made the COI tracking process tedious and prone to errors.

For years, Broadway Construction Group struggled finding a comprehensive, easy-to-use system for managing certificates of insurance (COIs), W9s, and other essential compliance documents.

This outdated approach not only increased the likelihood of mistakes, but also made it difficult to maintain the standards required for regulatory adherence.

The Solution? Meet Billy: The COI Compliance Management Solution

Billy, is an all-in-one COI tracking platform, built specifically for the construction industry. 

Billy offers a quick, intuitive, and reliable way to manage all insurance and COI management needs. The platform is designed to be an easy-to-use software with a straightforward and intuitive interface that makes it accessible to users of all levels of technical expertise. You don’t have to be a technical expert to enjoy the benefits of Billy—let Billy do the hard work for you!

Unlike many other compliance management tools, Billy offers customization specifically designed for construction workflows. The platform enables users to create tailored workflows and processes that align with their unique business needs. This flexibility ensures that, regardless of the industry or the nature of the projects being managed, Billy can be adapted to meet specific requirements, making it the perfect solution for Broadway Construction Group as they work across various construction sectors.

The platform also offers two-way integration with popular project management systems such as Autodesk and Procore that allows you streamline the collection of certificates of insurance, enabling you to request, verify, and track them seamlessly. The automated collection and verification process of compliance documents ensures that you always have the necessary documents and can stay compliant with industry regulations. Billy also does not require a login for vendors when uploading their documents. This allows your vendor or their broker to upload documents and eliminate manual correspondence with automations.

By seamlessly integrating Billy into Autodesk Construction Cloud, Broadway Construction Group can now access real-time compliance within their existing project management workflows.

With Billy, you can save countless hours of tedious work, simplify your insurance process, and protect your business and projects.

How Billy Helped Enhance Operations

As Broadway Construction Group continued to onboard additional projects and subcontractors, it became increasingly clear how inefficient their previous methods were. Billy helped resolve these issues, ushering them into a COI tracking process that prioritized efficiency and simplicity.

By partnering with Billy for their compliance needs, David Rivera and his team at Broadway Construction Group now greatly benefits from a streamlined approach to managing compliance documents. The Billy platform consolidates essential documents such as COIs, W9s, and business licenses into a single, easily accessible location. The centralized system offers a straightforward way to identify which vendors and subcontractors are compliant with current regulations.

Another great benefit to utilizing Billy is that the platform automates the process of notifying vendors and subcontractors about impending insurance expirations, reducing the risk of lapses in coverage. The platform also integrates seamlessly with Procore, allowing compliance information to sync directly with the project management system. This integration ensures that all compliance data is up-to-date and readily available, enhancing efficiency across projects.

Since implementing Billy, David and his team have been able to: 

• Save up to 80% of time through automation processes and integrations. 
• Reduce manual errors in insurance and compliance documentation. 
• Avoid the disruptive impact of claims with compliance he can trust.

In addition to the time-saving and efficiency benefits of Billy, David and the Broadway Construction Group team appreciated the level of personal support and assistance they received from Billy’s team of experts. The team conducted a thorough onboarding process to ensure David and his team fully understood how each facet of the software worked and how it can help them. Following the onboarding process to present day, the Billy team is available for any questions and assistance. Billy invests in its clients’ success from day one. 

Billy has proven to be an invaluable resource for Broadway Construction Group, enabling the company to digitize their risk and COI management processes and significantly improve their overall operations. Billy’s innovative COI management software transformed the tedious and error-prone process of collecting and tracking subcontractor insurance into a streamlined and manageable experience. 
Start exploring the best software options for your construction firm today with Billy’s managed plan service. Schedule a demo today!

Frequently Asked Questions

What is COI Management?

COI management involves overseeing certificates of insurance to ensure that all vendors and subcontractors have the required insurance coverage. This process includes collecting and verifying COIs, tracking their validity, ensuring compliance with legal and contractual requirements, and managing updates or renewals. Effective COI management software, such as Billy mitigates risks by automating the process ensuring all parties involved are properly insured.

How many hours can Billy save on the COI management process?

Billy can save a significant amount of time spent on the COI management process through automation and streamlined operations. This significant time reduction allows teams to focus more on other critical tasks while ensuring efficient and accurate management of insurance documents.

How to choose the right construction COI compliance management software for you?

Choosing the right construction COI compliance management software involves looking for software that offers essential features like regulatory certificate of insurance tracking, risk management, audit management, and document handling. Usability is key, so ensure the interface is user-friendly and that support and training are available. The software should also be scalable, integrate well with your current systems, and fit within your budget. With Billy, you can simplify your vendor compliance process, save time and money, and protect your business. Try us out today and see how we can help you succeed.