A point solution is a software application or tool that is designed to solve a specific problem or fulfill a particular need. It is a targeted, efficient solution that can help streamline business processes and increase efficiency. When it comes to tracking certificates of insurance (COI), a point solution is often the better choice when compared to a platform solution.
Purpose-built – For starters, a point solution is designed to do one thing and do it well. It is tailored for a specific purpose and is focused on providing that one solution. This means that the user experience is optimized for the specific task of managing COIs and the user interface is designed to make it simple and easy to use. This makes it more intuitive and user-friendly than a platform solution, which often requires a steep learning curve and is more complex to use.
Cost-effective – A point solution is also more cost-effective than a platform solution since it is designed to do one specific task and does not require additional modules, licenses, or software packages. Our starter software is $5,000 annually. No COI tracking software that is a module part of a bigger platform can compete with that.
Agile – A point solution like COI Pro is also more agile, making it easier to scale to fit changing needs and requirements. Did you acquire a new business and need to add a new business unit with new vendors? A point solution can easily be configured to add a new business unit to track COIs for that segment of the business.
Security and Safeguards – Finally, a point solution is more secure than a platform solution. Since it is focused on a single task, it is more secure and can be more easily monitored and updated. This makes it less vulnerable to cyber threats and can ensure that all COI certificates are tracked correctly.
Overall, a point solution like COI Pro is the better choice for tracking COI certificates. It is simpler, more cost effective, more agile, and in many cases, is more secure than a platform solution. It is also easier to use and can provide a more intuitive user experience. Therefore, when it comes to tracking COI certificates, a point solution should be the preferred choice.
Want to learn more about tracking insurance certificates using a point solution? Schedule a demo today!
