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HCMWorks Insights

Manage And Track Your Contingent Workforce In One Cloud-Based Database

Posted by Julia Fournier on 1 Nov 2017

Part of HCMWorks’ comprehensive offering is a cloud-based contingent labor solution called HCMNow. This program was designed to offer many of the same benefits of a larger VMS contingent labor system used by Managed Service Providers (MSPs), but on an on-demand basis.

With a zero implementation and post-implementation cost, HCMNow is an online MSP solution that helps companies manage and realize savings on managing their contingent labor.

If your organization has a contingent workforce ($5M+ in spend), professional service contracts, or statement of work projects (SOW), and you don’t have the staff to dedicate to a full-service contingent workforce program, then HCMNow offers a turnkey solution. It’s especially appealing to CHROs, VPs of HR, Directors of Talent Acquisition, and Procurement Leaders, who are concerned that moving to a central full-blown MSP solution, from a decentralized system, would be overwhelming.

HCMNow helps manage and track all of your company’s non-permanent workers in one cloud-based database that allows for easier forecasting and overall management. The single database contains your contractors personal contracts, time/expenses, performance, and vendor metrics. Additionally, HCMNow handles the requisition-to-invoicing process, end-to-end, including approvals and online payments.

Companies using HCMNow achieve time savings from more efficient administration, and gain insight into their contingent program with standard and custom reports such as: spend analysis, time/expense, headcount, tenure management, rate compliance and more.

Using HCMNow helps standardize behaviour throughout an organization using automation and workflows. Risk is reduced and risk management is improved with audit trails that help measure compliance. And accuracy is greatly improved by centralized automation that virtually eliminates errors.

HCMNow clients report improvements of fill ratios by upwards of 53%, and have lowered their cost of hire by 17-31% on average.

To find out more about HCMNow, and how we can work with you to better manage your contingent workforce, and realize significant organizational and cost benefits, get in touch with us for a complimentary discovery call.

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Tags: Managed Services Programs

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