TrustLayer Reviews & Pricing

by TrustLayer | Founded 2018, Boston, Massachusetts

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Categories:

Risk Management Software
GDPR Compliance Software
Risk Management Tools in Healthcare
...

What is TrustLayer?

Industry Specialties: Construction, Insurance, Real Estate, Retail, Distribution, Finance, Lending, Franchising, Property Management, Sports, Hospitality, Banking, Sports Entertainment.

TrustLayer is a sophisticated software solution designed to streamline and enhance risk management processes. It automates the verification of insurance, licenses, and compliance documents, making it particularly beneficial for businesses that manage numerous vendors, contractors, or partners. The platform is ideal for industries such as construction, real estate, and finance, where managing risk and compliance is critical.

Key benefits of TrustLayer include reducing administrative burdens, minimizing human error, and ensuring continuous compliance. Popular features encompass automated certificate of insurance (COI) tracking, real-time verification, and seamless integration with existing systems. Users appreciate its intuitive interface and robust reporting capabilities, which provide actionable insights into risk exposure.

Compared to similar products, TrustLayer stands out for its user-friendly design and comprehensive automation features, which significantly cut down on manual tasks. Pricing details are not readily available, so it is recommended to contact SelectHub for a tailored quote based on specific needs.

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User Sentiment i

Based on 4 reviews:

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#56

TrustLayer is ranked #56 in the Risk Management Software product directory based on the latest available data collected by SelectHub. Compare the leaders with our In-Depth Report.

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TrustLayer Pricing

Based on our most recent analysis, TrustLayer pricing starts in the range of $1,000 or more.

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Starting From: Undisclosed
Pricing Model: Annually, Quote-based
Free Trial: No

Training Resources

TrustLayer is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for TrustLayer:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

TrustLayer Benefits and Insights

Why use TrustLayer?

Key differentiators & advantages of TrustLayer

Enhanced Compliance: TrustLayer automates the verification of insurance certificates, ensuring that all vendors and contractors meet compliance requirements without manual intervention.
Risk Reduction: By continuously monitoring and validating insurance coverage, TrustLayer helps mitigate potential risks associated with uninsured or underinsured parties.
Time Savings: The platform streamlines the process of collecting and verifying insurance documents, freeing up valuable time for risk management teams to focus on more strategic tasks.
Improved Accuracy: Automated data entry and validation reduce the likelihood of human errors, ensuring that all information is accurate and up-to-date.
Centralized Documentation: TrustLayer provides a single repository for all insurance documents, making it easy to access and manage records from one centralized location.
Real-Time Updates: The software offers real-time updates on the status of insurance certificates, allowing for immediate action if a policy lapses or is insufficient.
Enhanced Collaboration: TrustLayer facilitates better communication and collaboration between risk management teams, vendors, and contractors through its integrated platform.
Cost Efficiency: By reducing the need for manual processes and minimizing the risk of non-compliance penalties, TrustLayer can lead to significant cost savings for organizations.
Scalability: The platform is designed to grow with your business, easily handling an increasing number of vendors and insurance certificates as your operations expand.
Data Security: TrustLayer employs robust security measures to protect sensitive information, ensuring that all data is stored and transmitted securely.
Customizable Workflows: The software allows for the creation of tailored workflows that align with your organization's specific risk management processes and requirements.
Audit Readiness: With all documentation and verification processes logged and easily accessible, TrustLayer simplifies the preparation for audits and regulatory reviews.
Vendor Accountability: The platform holds vendors accountable by providing clear visibility into their compliance status, encouraging them to maintain proper insurance coverage.
Integration Capabilities: TrustLayer can seamlessly integrate with existing enterprise systems, enhancing overall operational efficiency without disrupting current workflows.
Proactive Risk Management: By identifying potential issues before they become problems, TrustLayer enables a more proactive approach to managing risk.

Industry Expertise

TrustLayer is an industry-agnostic software solution that caters to a variety of industries, including government services, higher education, manufacturing, retail, and grocery stores.

TrustLayer Reviews

Average customer reviews & user sentiment summary for TrustLayer:

4 reviews

100%

of users would recommend this product

TrustLayer has a 'excellent' User Satisfaction Rating of 100% when considering 4 user reviews from 2 recognized software review sites.

Synopsis of User Ratings and Reviews

Based on an aggregate of TrustLayer reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Automated Compliance: TrustLayer automates the process of collecting, tracking, and verifying insurance documents, reducing the risk of manual errors and ensuring compliance.
Time Savings: By automating previously manual tasks, TrustLayer frees up valuable time for risk managers to focus on more strategic initiatives.
Improved Visibility: The platform provides a centralized hub for managing certificates of insurance, making it easy to track compliance status and identify potential risks.
User-Friendly Interface: TrustLayer is designed with a simple and intuitive interface, making it easy for users to adapt to the platform and navigate its features.

Cons

Limited Customization: While TrustLayer is a powerful platform, it lacks some customization options, making it difficult for some businesses to tailor the software to their specific needs.
Integration Issues: Some users have reported difficulties integrating TrustLayer with their existing systems, which could pose problems for businesses that rely on multiple software solutions.
Organizational Compliance Feature: A user expressed a desire to be able to turn off the organizational compliance feature, finding it unnecessary for their needs.
Managing Numerous Organizations: A user managing dozens of organizations found it tedious to make changes at the individual organization level, suggesting a need for a master-level management feature.

Researcher's Summary:

TrustLayer emerges as a highly regarded risk management tool, receiving overwhelmingly positive feedback from users, particularly those in mid-market companies. Customers rave about its intuitive platform, making insurance verification a breeze. A recurring theme in user reviews is the "user-friendliness" of the platform, with one user even claiming they "picked up how to use it in about an hour." Users particularly appreciate the automation features that streamline compliance tracking, freeing up valuable time and minimizing errors, which is essential for maintaining accurate records and mitigating potential risks. However, some users expressed that the initial setup could be smoother and wished for faster customer support responses. Overall, TrustLayer proves to be a perfect fit for organizations, particularly those in construction and those with 51-1000 employees, aiming to simplify their risk management processes and enhance their compliance procedures.

Key Features

Notable TrustLayer features include:

Automated Certificate Collection: Streamlines the process of collecting insurance certificates from vendors, reducing manual effort and errors.
Real-Time Verification: Ensures that insurance certificates are valid and up-to-date by verifying them in real-time against insurance carrier databases.
Customizable Compliance Rules: Allows users to set specific compliance requirements tailored to their business needs, ensuring that all vendors meet the necessary standards.
Integration with Existing Systems: Seamlessly integrates with popular ERP, CRM, and procurement systems, enhancing workflow efficiency without disrupting existing processes.
Risk Scoring: Provides a comprehensive risk score for each vendor based on their insurance coverage and compliance status, aiding in informed decision-making.
Document Management: Centralizes storage of all compliance documents, making it easy to access and manage them from a single platform.
Automated Reminders: Sends automated notifications to vendors and internal teams about upcoming certificate expirations, ensuring continuous compliance.
Audit Trail: Maintains a detailed log of all actions taken within the platform, providing transparency and accountability for compliance activities.
Custom Reporting: Generates detailed reports on compliance status, risk levels, and other key metrics, helping businesses stay informed and proactive.
User-Friendly Interface: Features an intuitive and easy-to-navigate interface, making it accessible for users of all technical skill levels.
Secure Data Handling: Employs robust security measures to protect sensitive information, ensuring compliance with data protection regulations.
Vendor Portal: Provides a dedicated portal for vendors to upload and manage their compliance documents, streamlining communication and collaboration.
Scalability: Designed to accommodate businesses of all sizes, from small enterprises to large corporations, with scalable features and pricing plans.
API Access: Offers API access for custom integrations and advanced functionality, allowing businesses to tailor the platform to their specific needs.
Training and Support: Includes comprehensive training resources and responsive customer support to ensure users can effectively utilize the platform.