One of the top reasons companies experience a visible bleed in their contingent workforce and staffing agency spend is down is due to poor management of these processes. The problem is, these poor management methods also lead to hidden costs that could have a huge impact on a company’s bottom line without ever being noticed.
So, what’s the solution? To better manage your staffing agencies and non-employee workforce it’s crucial to consolidate your contingent workforce in one place using a (VMS).
When choosing a VMS solution, one of the biggest factors in your decision will be vendor management system pricing. In this blog, we’ve listed everything you need to know about VMS solution pricing models.
The traditional VMS pricing model
The majority of vendor management systems are incredibly expensive to implement and maintain. T
As a result, many organizations turn to manual spreadsheets, in-house databases or SharePoint-like websites to manage their staffing agencies.
But this isn’t an effective solution either; in fact it might be costing your business almost as much in hidden costs!
These manual management methods result in errors, a lack of consolidation of vendor data and a complete lack of visibility into staffing agency performance. The result? Hidden costs within your contingent workforce due to human error, rogue spend, and fragmented vendor processes across your business.
So, if a vendor management system is the only effective way to manage your staffing agencies and non-employee workforce but these solutions are too expensive and complicated to use, what is your business going to do?
A new model of VMS pricing that gives you more for less!
While the complex functionality of traditional VMS systems is fine for some organizations, it doesn't mean your business has to struggle through it. The launch of Conexis VMS has changed this.