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Press Releases Construction Navigator Launches Web Portal for Construction Risk Management; Unique Portal Helps Builders Find Contractors, Vendors and Lenders Business Wire January
27, 2003 "Construction contractors realize the value of a web presence and having information available in digital form," notes Jim Siegrist, EVP of Marketing and Business Development at Construction Navigator. "They know that keeping projects on schedule depends as much on the flow of information as it does on available materials and labor. They now have a way to find and be found by qualified partners, remove language barriers, manage information electronically, and get their projects on the fastest track to completion." Contractors A critical part of any construction project is keeping the General Contractor on site. This means minimizing trips to place orders for materials (such as lumber, sheet metal, plumbing, and electrical supplies). The Construction Management tool provides a project management timeline, lists contractors available and their references. It also provides a user forum to chat with other best-in-class contractors, subcontractors, vendors, and solution providers. By leveraging Internet technology to bring the most appropriate expertise to bear on each construction site, contractors can further shorten project delivery cycles. Vendors Construction Navigator provides a one-stop shopping center via electronic catalogs to purchase all supplies from construction vendors. This is an extremely alluring solution to companies with minimal to no computer staff. Vendors simply upload their inventory database to the portal for search and purchase by contractors and individuals. Using a virtual shopping cart, 128 bit encryption, and secure socket layer (SSL) transactions for all transactions. Construction Risk Managers With the economic downturn, financial institution budgets have gotten smaller. However, the cost of building a contractor profile is time consuming and staff driven. Construction Risk managers have turned to outsourcing, but they need a reliable platform that interoperates with their legacy systems. Construction Navigator provides a method for risk assessment that works with all legacy systems from lenders, insurers, and government agencies. Pricing and Availability The member portal is available now. The price is an annual membership of $350. Price includes development of web presence, use of tools, and services. The portal service will be free to the first 100 members who sign up. Unlike Improvenet, where you type in your construction project information and receive a contractor bid in a few days, Construction Navigator lets you select the contractor of your choice. You pay no finder's fee, typically over 4%. In this economy, can you afford to pay more without an assurance of quality? About Construction Navigator Construction Navigator(TM) is the world leader in Construction Risk Assessment software. The company leverages its expertise in risk management, e-Government, banking, and related services to improve the probability of success on construction projects. For more information visit www.cNavigator.com, or phone 408-979-0100. CONTACT: Construction Navigator Jim Siegrist, 408/979-0100 jim.siegrist@cnavigator.com www.cnavigator.com (c) 2003 Business Wire. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission. (C) 2003 Business Wire. All Rights Reserved
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