28 June 2024

How Long Does it Take to Implement a Vendor Management System (VMS)?

Wayne Burgess
Wayne Burgess

Implementing a Vendor Management System to streamline your contingent workforce can appear overwhelming at first glance. Here, we share the secrets for a quick implementation, and provide valuable insights to help you execute your vendor management system implementation quickly, efficiently, and with success.

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. However, there’s now an option that is built on the latest technology architecture which is less expensive without giving up on functionality, security or scale.  

For those seeking a fresh VMS Solution, grab our complimentary VMS Buyers Guide. It equips you with essential insights to choose the perfect VMS for your needs, complete with specific  questions to ask potential providers regarding VMS implementation.

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At Conexis, we can have you up and running in as little as two weeks!

Conexis VMS is the most modern and innovative VMS, built using the latest technology, so implementations is fast and easy. Depending on the functionalities you need, our VMS solution could cost your business anywhere from as little as $500 a month. In addition - we support you through all onboarding and setup and can have your organization set up in our system in as little as two weeks! 

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. We provide the easiest, fastest, most modern, sophisticated, and flexible VMS on the market today. Learn more about why companies are choosing Conexis.

 

Interested in learning more about Vendor Management Solutions?

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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Wayne Burgess

Wayne Burgess

Wayne Burgess is the President of Conexis, a technology company focused on helping organizations get control of their Contingent workforce.

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