Vendor Management: Improve Data Management and Save

Is your company employing contingent workers to more effectively manage labor costs, access talent to address skill gaps within your organization, enhance flexibility, or adjust your workforce size as needed? If so, you’re likely aware of the challenges involved in effectively managing a contingent workforce.

For an effective contingent workforce program, consolidating staffing agency data and gaining visibility into performance is absolutely key. In this article, we’re going to discuss how your organization can achieve successful vendor data management, and save significant soft and hard savings within your contingent workforce management program.

Visibility into your Contingent Workforce Program

Many organizations, whether small, mid-market, or large, are discovering they lack true visibility and control over their contingent workforce programs, resulting in fragmented processes throughout their business.

One of the main challenges we see for so many companies is that they are still using spreadsheets, in-house databases or Share-point-like websites to manage their staffing agencies. Manual systems are simply not an effective way to manage your staffing vendors.

Managing your staffing agencies on manual spreadsheets will result in a lack of consolidation of vendor data and a complete lack of visibility into their performance. This leads to hidden risks, rogue spend, fragmented vendor processes across your business and the opportunity for human error to impact your data.

Your organization can achieve successful vendor data management, and save significant soft and hard savings within your contingent workforce management program, simply by using a vendor management system (VMS) to manage your staffing agencies.

Let’s start with a quick look at what vendor management software actually is.

What is VMS?

A vendor management system is a software platform that enables organizations to securely manage, automate and consolidate the management of the entire staffing agency process in one easy-to-use centralized location.

By consolidating vendor data and vendor management in one centralized location, organizations are able to gain clear visibility and control over their entire staffing agency workforce.

The result? There are many benefits to a VMS: Your business will have greater control over non-employee workforce spend, improved internal vendor management efficiencies, greater visibility of staffing agency performance, reduced costs and improved workforce quality.

A VMS creates clarity through improved vendor management data

With that in mind, how exactly does a VMS help your company to achieve successful vendor data management? We have listed just a few of the key ways in which a vendor management system gives you improved clarity into the management of your vendors:

Vendor Consolidation

Engaging staffing agencies to source non-employee workers for your organization will leave your business with hundreds, or even thousands, of data points. Managing this data is virtually impossible manually, and doing so will have a huge impact on how effective and expensive your contingent workforce management program is.

Thankfully, a VMS will consolidate all vendor data across your organization into one centralized place. That means every hiring manager across your organization will know exactly what rates they should be paying vendors, and the manager who oversees the entire contingent workforce program will have complete visibility into staffing agency spend and performance.

Monitor and Track Vendor Performance

A VMS stores all of your vendor management data in one centralized location, giving your business the visibility it needs to monitor and track staffing agency performance. You can use this data to monitor each stage of your non-employee workforce lifecycle, addressing problems as they occur and identifying areas in your program that can be improved.

By having a strategy to properly monitor and track vendor performance, you will ensure your staffing agencies are working successfully to help your business achieve its workforce targets.

Learn more about the benefits of a VMS

Learn more about the Benefits of a VMS and what to look for when choosing the best VMS for your organization. Download our Free VMS Buyer's Guide here:

Discover the Power of Conexis VMS

Conexis VMS is purpose-built for organizations seeking to manage their contingent labor spend effectively. Here’s why we're the right choice:

Fast Deployment: Get up and running in weeks, not months
Transparent Pricing: Flexible pricing with no hidden costs
White-Label Ready: Customize the platform with your brand
Real-Time Insights: Make faster decisions with built-in analytics
Audit-Ready Compliance: Store contracts, worker data, and rates in one secure hub

About Conexis VMS

Conexis is an award-winning Vendor Management System built for organizations that want the power of enterprise software without the complexity or cost.

Leveraging the latest technology, Conexis delivers the expertise, reliability and security of enterprise systems, while offering the flexibility, user friendliness and tailored, personal service you require. Learn more about our Company and why organizations Choose Conexis VMS.

Looking to Switch Your VMS or Just Getting Started?

Whether you are looking to Switch your VMS, or just Getting Started, we are here to help. Contact Us for a Free No-Obligation Consultation, See how Easy Conexis is to use by taking a quick 2 minute Self-Guided Online Demo, or Book a Personal Demo Today!