Ebix, a supplier of on-demand software and e-commerce services to the insurance, financial and healthcare industries, has announced that its Risk Compliance Solutions -- RCS Division, has signed a contract with Walmart Canada to effectively monitor and track certificates of insurance for Walmart.
The implementation of the contract is presently in process with the solution already having been put in production for Walmart a few days back.
As the largest retailer in Canada with more than 370 stores and 90,000 associates, Walmart deals with thousands of vendors, contractors and suppliers who provide a variety of products and services to Walmart.
The contract with Ebix requires Ebix to manage, validate and monitor insurance coverage’s that Walmart requires from its vendors, suppliers and contractors as a requirement for doing business with Walmart.
Ebix RCS’s SaaS based insurance tracking software will automate all aspects of the Walmart insurance tracking process that traditionally would have required costly, time-consuming manual processes.
With a comprehensive set of management and activity reports, Walmart will now be able to monitor each vendor/supplier/contractor’s insurance compliance status anytime on a 24 by 7 hour basis. The emphasis of the solution is on mitigating risk for Walmart while increasing overall processing efficiencies.
Ebix Corporate Vice President Rahul Raina said, "We are honored to add the largest retailer in the world to our list of prestigious clients. Using our expertise spread across more than 26 industry verticals, we are confident that we can help Walmart to fine-tune its risk compliance approach and bring increased operating efficiencies to the fore. We intend to ensure that we can make the experience a smooth and efficient one for both Walmart and its thousands of vendors, contractors and suppliers."