When businesses aim to enhance their contingent workforce program, they are confronted with a critical decision - choosing the best Vendor Management System (VMS). Amidst the multitude of considerations, one often underestimated factor is the importance of the VMS provider's Net Promoter Score (NPS). Let's look into why NPS plays a vital role in selecting a VMS.
According to SIA’s 2024 Workforce Solutions Buyers Survey, global adoption of Vendor Management Systems (VMS) by companies with more than 1,000 employees has grown from just over 50% in 2009 to 78% in 2024. Organizations were asked how likely they were to recommend various workforce solution suppliers and calculated net promoter score (NPS).
With continuing skills shortages, the data suggested, there is a need to drive program adoption by offering a positive experience at scale for both staffing suppliers and contingent workers. Yet, the gap between client expectations and the VMS platforms in the industry are low.
According to the SIA Survey, NPS for VMS Providers for 2024 the NPS is -35.
Why NPS is Important when choosing a Vendor Management System
The choice of VMS provider holds immense importance in impacting your company's operational effectiveness, financial outcomes, strategic vendor partnerships, and capacity to accomplish your workforce objectives.
A vendor management system plays a pivotal role in your business by streamlining and automating processes related to managing your contingent workforce, thereby reducing administrative burdens and freeing up valuable resources.
- It provides your business with essential visibility and control over your contingent workforce, ensuring that you meet workforce targets, stay within budget, and effectively mitigate risks.
- Additionally, it enables you to effortlessly track vendor performance metrics to ensure that your vendors are meeting their agreed-upon service levels and maintaining quality standards.
It is essential to recognize that not all VMS providers are equal. When choosing a VMS provider, it is crucial to consider various key factors, such as the provider's expertise, experience, level of customer service quality, and dedication to ongoing innovation.
A frequently underestimated but crucial metric is the provider's Net Promoter Score (NPS).
What is a Net Promoter Score?
The NPS serves as a globally acknowledged gauge of customer satisfaction and loyalty, offering valuable insights into a provider's commitment to exceptional customer service and product quality.
This metric holds substantial importance for software providers, including those in the Vendor Management System sector, serving as a valuable tool in evaluating whether a provider is poised to meet your expectations and deliver a positive customer experience.
Calculation of the Net Promoter Score involves a straightforward question posed to customers: "On a scale of 0-10, how likely are you to recommend our company/product/service to a friend or colleague?". The net promoter score is calculated by subtracting the percent of respondents scoring 0-6 from the percent scoring a 9 or 10.
Why is Net Promoter Score Important?
In the realm of Vendor Management Systems (VMS), surpassing the industry average in Net Promoter Score (NPS) typically indicates elevated customer satisfaction levels. This achievement is often linked to factors like robust features, user-friendly interfaces, and, notably, exceptional customer support. If your user doesn't like your system, or finds it slow, too complicated or not easy-to-use, they will not use it and look for workarounds. This affects adoption rates and benefit realization.
How do you measure NPS for a Vendor Management System?
In terms of industry averages, according to the 2024 Staffing Industry Analysts (SIA) Workforce Solutions Buyer Survey, the average NPS score for a VMS in 2024 is -35.
Yes - that's negative 35, not positive 35.
In their report, SIA asked companies how likely they would be to recommend their current VMS suppliers. Respondents selected a value ranging from zero (not at all likely to recommend) to ten (extremely likely to recommend). The net promoter score is calculated by subtracting the percent of respondents scoring 0-6 from the percent scoring a 9 or 10.
You can learn more about SIA's Workforce Solution Buyer Survey at Staffing Industry Analysts
Why Does Conexis VMS have an NPS of +71?
At Conexis, we understand that achieving a high Net Promoter Score (NPS) doesn't happen by chance.
Our unwavering commitment to providing a seamless user experience and top-notch customer care has earned us an impressive NPS score of 71 among our current users, surpassing the industry average.
We Deliver What We Promise: Exceeding Customer Expecations
Our Mission. This score is not just a number; it reflects our dedication to exceeding customer expectations and continuously enhancing our services. It demonstrates that our clients are not only satisfied but also confident in recommending Conexis to their industry peers. It's the result of deliberate efforts to prioritize our customers' needs.
That's why we place a strong emphasis on two key areas: Exceptional Customer Support and User-Friendly Design.
Customer Support: Our Customer Care teams hold themselves to a high standard. In fact, they set the SLA they work towards every day. Guaranteed response in one hour and 3 hours resolution 80% of the time.
- These are a couple of key factors why our user community loves our VMS system. We are proud of our NPS and work daily to maintain this positive connection with our users.
- Our buyer community loves us due to the fact that Conexis enables higher adoption rates which in turn drives faster and higher benefit realization. Whether it's cost savings or time to fill, our clients report better results consistently.
Ease-of Use: What also makes Conexis different is the ease of use and speed at which interactions occur in our system. Frustration levels grow as speed deteriorates and functional complexity increases. Conexis is designed with the user in mind to manage the entire contingent worker transaction with sophistication and simplicity combined.
- Read More about the Importance of NPS, User Experience and Adoption➡️ 4 Key Questions to Ask a VMS Provider about User Experience
➡️ How Sub-Par VMS Tools Impact Contingent Workforce Program Adoption➡️ VMS and MSP Adoption: The Key to Successful Workforce Management➡️ Support for Vendor Management Systems: Why Customer Care is Important
➡️ 5 Key Steps for Successful Vendor Management System User Adoption
➡️ VMS Training & Adoption: Preparing Your Team to use a Vendor Management System
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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