Implementing a large scale solution to manage your contingent workforce and the staffing vendors you use to source them can seem like a daunting task.
Depending on the vendor management system (VMS) you select and how complex your external workforce is, this can be a very difficult and time-consuming process. But on the flip side, it can also be incredibly fast when done right.
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 - especially for companies with smaller contingent workforce budgets.
The key to a seamless VMS implementation is to define your business requirements and desired workflows, which will allow your business to assess your vendor management system options and narrow those down to the one solution that meets your company’s unique requirements.
In this blog, Conexis VMS has listed a few tips for a successful vendor management system implementation:
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.
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
- 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.
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 organizations with smaller external workforce spend. That’s because most VMS solutions require a minimum spend volume.
These pricing models are only cost-effective for enterprise-sized organizations with high non-employee workforce spend.
For businesses with smaller contingent spend, however, there’s now an option that’s less expensive and just as effective. Conexis VMS is the very first vendor management system designed to automate and consolidate the entire non-employee workforce and staffing agency management process, with no minimum spend requirements.
We have adopted a software as a service (SaaS) monthly licencing model that gives you access to a highly-effective vendor management system without the expensive minimum spend percentage pricing model.
Depending on the functionalities you need, our VMS solution could cost your business anywhere from as little as $100 a month to $500.
Not only that, but implementation with Conexis VMS is easy. We do all of the onboarding and setup for you, meaning your organization can be set up with our easy-to-use VMS solution in as little as 48 hour.
Want to learn more? Get in touch with Conexis today. We would love to answer any question that you may have, or give you a free demo of our innovative vendor management system that is designed specifically for organizations with smaller extern workforce budgets.