Implementing a Vendor Management System to streamline your contingent workforce may appear overwhelming at first glance but it doesn't have to be. Here, we share the secrets for a quick implementation, and provide valuable insights to help you not only choose the right VMS for your organization - but also how to execute your VMS implementation quickly, efficiently, and with success.
When you are looking for a VMS, be sure to consider implementation time and expense in your decision; and select a VMS that is built on the latest technology architecture which is less expensive without giving up on functionality, security or scale. You may also want to read our article on VMS Implementation in a Few Weeks: Fact or Fiction?
What is the Time Frame for Implementing a Vendor Management System (VMS)?
The process of implementing a Vendor Management System (VMS) can vary in difficulty, cost, and time depending on the system you choose and the complexity of your external workforce. However, with the right approach, it can also be swift, efficient, and budget-friendly.
The key to a rapid & cost effective VMS implementation lies in the underlying tech stack of your VMS provider
Not all vendor management solutions are created equal. Some systems are complex, offer way more functionality than you would ever need and are simply overwhelming.
The first critical step is to define and document detailed business requirements and process flows. This includes things like approval requirements, integrations, customization of the workflows and fields to name a few. The older the tech stack, the more complex, time consuming and expensive the implementation will become.
1- Define what goals you want to achieve within your external workforce program
The start of any VMS implementation project should kick off with the goals that your business is trying to achieve. By implementing a vendor management system, some organizations want to focus on saving money, others want to mitigate risk, some want to improve workforce quality and other companies want to better manage their staffing agencies - some want to achieve all of those things and more!
Whatever it is you want to achieve within your external workforce program, your VMS implementation project should be based on those specific goals.
Conduct a thorough review of what you need and what you want to accomplish, and then work with a VMS provider to talk through how your chosen vendor management software will have the functionalities you need to see real results.
2- What functionalities do you need to achieve those goals?
The functionalities your VMS has will depend on the goals you want to achieve within your contingent workforce program, and the processes you have to source and hire non-employee workers.
Common VMS functionalities that will help you better manage both staffing agencies and contingent workers include:
- The ability to consolidate vendors
- The automation of processes
- The consolidation of all contingent worker data in one place
- Vendor guidelines and the standardization of staffing agency rates.
- The centralization of your program across your entire organization.
- Visibility into your non-employee workforce and vendor performance
- Insightful data and KPIs such as turnover or time-to-submit.
- Integrations with other platforms you use such as your HRIS or ATS.
3- Choose the solution that best fits your organization’s requirements and budgets
For many years, the effective management of contingent workers and staffing agencies had been out of reach for many organizations due to the exorbitant costs associated with the old legacy systems. These older systems are built on aging architecture that requires a lot of support to maintain and customize. So when looking for a VMS, select one that is built on the latest technology architecture which is less expensive without giving up on functionality, security or scale.
Would you like to learn more about Vendor Management Systems?
For those seeking a fresh VMS Solution, download our complimentary VMS Buyers Guide. It has everything you need to know about vendor management systems and equips you with essential insights on what to look for when choosing the perfect VMS for your needs; complete with specific questions to ask potential VMS providers.
About Conexis VMS
Conexis VMS is a robust, cloud-based, mobile-friendly software application that empowers your company to streamline and oversee your entire contingent workforce, regardless of the diverse skill sets you require. Our award-winning Vendor Management System is the the most modern and advanced VMS tech stack available today that has been built with the user in mind. It starts with the latest codebase and extends to our lightning-fast AWS microservice infrastructure. Add to that our Open API and Software Development Kit (SDK), making Conexis the lights-out leader in VMS technology. Because of our technology, Conexis VMS implementations is fast and easy. Plus, we can have your organization up and running in as little as a few weeks!
Learn more about our Company and why organizations are choosing Conexis VMS
Contact Us
Whether you are looking for a new VMS Solution, or just getting started, we are here to help. See how easy Conexis is to use by taking a quick 2 minute Self-Guided Tour. Contact Us for a Free No-Obligation Consultation to discuss your workforce challenges (and get immediate actionable insights) or Book a Personal Demo Today!
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