Payment Delays from COI Compliance Verification

Aggregated across many residential buildings, $X per month or more in recurring invoices can be delayed 15–45 days because of lapsed or mismatched COIs, straining cash flow and increasing the administrative cost per dollar collected. • Delayed collections on otherwise healthy contracts extend Days Sales Outstanding and force the owner to float payroll and supplies; with $X per month in invoices routinely delayed 15–45 days due to missing or expired COIs, this ties up tens of thousands of dollars in working capital and may trigger overdraft fees or higher credit line utilization. • High-value government invoices totaling about $X per month are frequently held 30–60 days when COIs lapse or do not meet agency wording requirements, increasing DSO, consuming admin hours, and forcing the business to rely on credit lines or delay owner distributions.

Bookkeeper maintains a manual list of government contracts and expected renewal dates, searches government portals and email for COI requirements, then emails or calls the insurance broker to issue updated certificates and manually uploads or emails them to each agency when payments are blocked. • Bookkeeper manually tracks policy and COI expiry dates in spreadsheets and email folders, sets calendar reminders, searches email threads for past COIs, and rush-requests updated certificates from the broker whenever a client or property manager blocks payment. • Safety Compliance Officer keeps a manual matrix of client sites and insurance requirements, relies on email threads and shared folders to confirm what is on file, and coordinates with the office or bookkeeper to rush updated COIs from the broker whenever a property manager threatens to hold payments or pause services.