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RAD Electric Grows Business, Spends 40% Less Time on Prequalification, and Triples Return with Avetta
Industry
Construction
Region
APAC
Solutions
Contractor Compliance
Contractor Prequalification
Contractor Management
Contractor Safety
About RAD Electric Co.
Headquarters: Newcastle, New South Wales, Australia
Region: Newcastle, Australia
Domain: Integrated Cabling Solutions
Avetta Customer Type: Supplier
Website: https://radelectric.com.au/
Company Profile
RAD Electric is a rapidly growing electrical and communications company located in Australia. The team provides data cabling, fiber optics, electrical, WiFi, electric vehicle chargers, and equipment hire services to defense, industrial, IT, and commercial clients.
Challenges in Compliance Management
Before joining the Avetta network as a supplier, RAD Electric tracked contractor data manually, using disparate systems that presented several challenges. From time-consuming manual tracking that faced data inconsistencies to disorganized document storage systems and tracking issues with email communication, meeting compliance demands was fraught with challenges.
The Avetta Experience
Like many who ditch manual tracking of prequalification for centralized platforms, the learning curve RAD Electric experienced felt overwhelming at times. Not knowing what compliance standards they needed to meet or what certifications were required of them left them in the dark and exposed to risk.
After investing time in the Avetta platform, the benefits were immediate and plentiful. Automating repetitive tasks helped to streamline contractor management and the team quickly identified risks within their supply chain. The improved safety compliance, real-time risk management, and enhanced compliance and auditing are making RAD a stronger company built to navigate the future.
Benefits Experienced
Compliance Cost Savings: Not having visibility into their supply chain was costing RAD Electric. Adopting Avetta and centralizing prequalification information allowed the team to close gaps in their processes. In turn, they saved 20% in fines and penalties related to safety non-compliance.
Streamlined Prequalification Time Savings: Using Avetta’s powerful platform, RAD has streamlined prequalification, automated workflows, and cut down on data inconsistencies. In total, RAD has experienced 40%-time savings working with Avetta, meaning the team regains time to value-adding activities.
Tripled Return on Investment and Gained Business: Moving to Avetta is paying dividends for RAD Electric’s team in more ways than one. On top of cost and time savings, RAD has leveraged the Avetta network to gain more business. Combining the savings and business growth, RAD is on track to triple the return on investment within the first year using Avetta.
Conclusion
RAD Electric turning to Avetta has freed their team from compliance-related headaches. A significant improvement in supply chain visibility and risk management allowed the team to experience cost and time savings. Joining the Avetta network helped RAD find new business and the company is poised for future growth thanks to the newfound efficiency.
“Avetta can be a powerful tool for managing third-party risk, improving safety compliance, and ensuring better operational efficiency. By taking the time to fully integrate Avetta into your processes, you’ll likely see a significant improvement in how you manage compliance and reduce risks within your supply chain.”
Sam Coote
Accounts & Admin
