Overview
When vendors submit a prequalification form, your team will need to review and make a decision on each submission. Billy's Prequal Review feature streamlines this process by pre-populating vendor data and walking you through a simple decisioning workflow.
📹 Watch the walkthrough video: Reviewing Vendor Prequalification in Billy
How to Review a Prequalification Submission
Step 1: Open the Prequal Review
When a vendor submits a prequalification form, it will appear in your review queue. Navigate to the Prequal Review section in Billy to see all pending submissions.
Step 2: Review the Form Sections
The review screen is divided into the following sections (visible in the left-hand navigation):
Company Information
SBA Certification
Diversity Certification
Documents
💡 Tip: You do not need to manually check each field. All form responses are pre-checked for you. Your job is simply to confirm the information looks correct and make a decision.
On the right-hand side of the review screen, you'll see a New Vendor Data panel. This is the information that will be pre-populated to create the vendor record in Billy if you approve the submission.
Making a Review Decision
The most important part of the review is the decisioning step. You have the following options:
Decision | Description |
Create Qualified Vendor | The vendor is approved and ready to be selected for work. |
Create Qualified Vendor (with Exception) | The vendor is approved, but with conditions — for example, "We will only issue contracts up to $100,000 for this vendor." |
Create Unqualified Vendor | You accept the vendor into your system, but they are not yet ready to be assigned to a project. Think of this as your "bench" — for example, a cleaning company you may want to use in the future but don't have a current project for. |
Reject | The submission is declined. |
Selecting a Requirement Group
When you select Create Qualified Vendor or Create Unqualified Vendor, a dropdown will appear to select the Default Requirement Group. This determines what documentation the vendor must provide (typically a W-9 and a Certificate of Insurance / COI).
If your organization uses multiple requirement groups, they will all appear in this dropdown.
After Approval
Once you click Submit, Billy will confirm that the vendor record has been created. You can then click Go To Vendor to navigate directly to their vendor profile.
On the vendor profile, you will see:
Details tab — Company information including name, address, status (Qualified/Non-Compliant), and primary contact.
Documents tab — Any documents submitted with the prequalification (e.g., ACORD 25, W-9) will automatically appear here for your review.
Company Level Compliance tab — Shows the insurance requirements tied to the vendor's requirement group and their current compliance status (e.g., Waived, Compliant, Non-Compliant).
Requesting Additional Documents
From the vendor profile, you can use the Request Company Level Documents button (top right) to send a request to the vendor for any outstanding compliance documents.
Related Features
Requirement Groups — Manage the documentation requirements assigned to vendors under Settings. Requirement groups control what insurance and compliance documents are required.
Internal Notes — Use the Internal Notes tab on the vendor profile to log any internal comments about a vendor.
📌 Need help? Contact the Billy support team via the chat bubble below or visit billyforinsurance.com.