Online Specialty Surety Unit
The national transition to digital commerce for major infrastructure construction of energy and transportation projects will be a major disruptive event that has taken years of buildup, collaboration and the creation of a foundational structures.
Those years will seem as an endless series of technobabble theories and drawn out hypothesis offered by industry leaders that seek to contribute, however most are offered by solution providers with a proprietary product to sell.
The extreme cost of miscalculation, being trapped in a system, or tied to a process with no guaranteed future has kept most stakeholders on the sidelines pending market clarity, confidence in data exchange reliability and security, and solutions that present a compelling business case.
The Online Specialty Surety Unit for Surety Resource Connection is that compelling case, based not on offering a proprietary technology solutions that ties and constrains stakeholders, but the utilization and implementation of machine readable open standards enabled by data interoperability to unlock the potential of stakeholders to innovate and compete.
The software applications developed by Surety Resource Connection demonstrate how data can be exchanged reliably and securely using machine readable federally recognized data standards like XBRL and FIBO.
By developing the shareware software as an educational opportunity with resulting programming code offered for free on GitHub, or shortly on the Salesforce App Exchange, we can offer the compelling business case of data interoperability being cost effective to implement with high confidence in its quality, reliability and security.
Our stakeholders engage with Surety Resource Connection applications because they replace inefficient manual policies and procedures for exchanging data with methods that allow total freedom for stakeholders to independently innovate, and to choose their business partners free from any constraints.
Surety Resource Connection is designed for universities to promote an educational opportunity for students interested in the business of construction. The project has some simple underlying principles:
Data that is used in business decisions, such as project information, is becoming more prevalent on the internet.
The ability to provide, process and harness that data using commonly adopted open standards would result in more cost efficient systems evolving as open competition prevents monopolistic and proprietary systems from emerging.
While there is broad consensus that a common system needs to be developed, there is not a commonly adopted open standard, or process, currently in place. The private sector, by its nature, is not conducive to developing applications or processes that provide wide unrestricted use. The public sector is.
Students that are given the hands on opportunity to work with the processing and movement of data will be learning essential skills for any number of future applications and/or employers.
Employers, public and private, will need graduates with an understanding of how data is moved along the internet.
With the underlying objective to coordinate a wide range of participants the students will have contact and interaction with a number of public and private enterprises, each a potential internship or employment opportunity.
Data standards provide the confidence to implement and innovate
Surety provides the confidence to contract
Digital communications and
Electronic transactions provide efficiency
Together we can build with efficiency and confidence
A Catalyst to get from here to .........................................There