A Vendor Management System (VMS) is a web-based (Cloud/SaaS) application that acts as a central hub, and a system of record, to procure, manage and pay, your contingent workforce - sourced directly, or via staffing agencies and strategic service providers.
VMS technology is fundamental to the success of your contingent workforce management strategy.
With a well-configured VMS, organizations can automate and streamline critical processes that support the sourcing, acquisition, management and payment of your on-demand workforce. This includes requisitions (request for services), candidate selection and on-boarding, compliance, approvals, time management and scheduling, expense management, payments and reporting. In addition, VMS technologies can provide extensive reporting functionality and features to support your human capital strategies and objectives.
“The HCMWorks team was the foundation in the implementation of a contingent workforce managed solution which extends from the hiring process to the payment of consultants. For more than 5 years, our partnership with HCMWorks enables us to effectively meet our objectives in accessing a large talent pool, all while controlling our costs.”
"Having had HCMWorks and their team of professionals supporting our contract resources over the past four years has been a pleasure. HCM experts continue to provide solid and consistent resource management, procurement and administration and we appreciate the efforts that they successfully offer. Having them on our team is a huge asset!"
"I've been working for almost 10 years with the HCMWorks' team and I hope to continue for another 10 years. Professional and passionate are few words that best describe this team. They offer excellent overall service and are always available for any inquiries. Their knowledge of the market makes them an asset for the business. I would not hesitate to recommend them."
Not all VMS vendors are created equal. Some will generate better results than others, and it’s critical to have a technology neutral MSP, like HCMWorks, working with you. As a technology neutral MSP, we will make informed decisions based on your unique business culture, needs and goals when making the business case with documented recommendations.
MSPs that remain technology and vendor neutral can ensure that all decisions are made to support your exact needs while adding the most value to your business. Having the right vendor management system is critical for your ROI. As a technology neutral MSP we can apply total objectivity when determining which platform your company should use.
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A vendor management system (VMS) is an essential element of any successful contingent workforce management program, helping with every aspect of your company’s “non-permanent” workforce - from candidate selection, requisition distribution, onboarding, vendor management, vendor performance analysis, compliance, time management, payments and much more.
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