There’s no doubt about it, the world of work is changing. The future of work is about building an agile workforce and strong staffing agency relationships. These steps ensure that your business is able to adapt to workforce challenges such as the growing skills gap.
To ensure the proper management of this process, many organizations are turning to vendor management systems (VMS) to manage their staffing agency process - but what workers do these systems help your business to manage?
A VMS is a cloud-based software platform that centralizes, consolidates and automates the management of your staffing agency process. That includes everything from onboarding, measuring vendor performance, managing staffing agency relationships, procuring workers, payments and much more.
This is a step beyond the ineffective manual processes that many organizations (particularly those with smaller contingent workforce spend) use to manage their staffing agency process, such as spreadsheets, in-house databases and Sharepoint-like websites
Unlike these time-consuming and manual management methods, a vendor management system ensures your company is able to accurately record and centralize data across your organization into one platform. The result? Complete visibility and control of your staffing vendors and the workers you source through them.
Learn more about What is a VMS | Guide
This leads to significant money savings, more-informed hiring decisions, better vendor relationships and a huge amount of further benefits that drive your business towards higher profits and improved workforce quality.
Learn more about The Benefits of a VMS | Guide
Traditionally speaking, vendor management systems were designed to only address the management of hourly-based temps through staffing agencies - and some vendor management systems still only have these functionalities.
In general, however, most VMS solutions now allow your business to manage the sourcing, billing and payment for a range of different workers sourced externally. This includes independent contractors, temporary workers (temps) and fixed-free contractors.
A vendor management system acts as a system for record for all externally-sourced workers and the staffing agencies you used to source them. That means you’ll have access to worker information, as well as key metrics such as staffing agency rates, time-to-fill, time-to-submit and turnover.
No more fragmented information across your information for those workers who were sourced from vendors!
While many VMS solutions will only address hourly-based temps and independent contractors sourced through staffing agencies, modern vendor management systems are able to help your business manage the process to acquire, bill and pay a range of workers that are sourced externally.
Some VMS systems, such as Conexis VMS, now have additional functionality that allows you to manage all of your permanent hires who have been sourced via a staffing agency. In addition, Conexis VMS enables you to manage your direct sourced contract labor.
This is a perfect solution for smaller and mid-size organizations, who don’t have the luxury of large HR teams and procurement departments who can separate workforce management by category.
Instead, all workers sourced through a staffing agency (whether hourly-based temps, independent contractors or permanent employees) can be seamlessly managed on one centralized system - giving you complete visibility into, and automation of, your staffing agency workforce.
Learn more about Modern vs Legacy VMS | Guide
Conexis VMS 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 VMS 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 what makes Conexis VMS different.
Conexis VMS is trusted by staffing agencies, MSPs and leading organizations to modernize and manage their contingent workforce programs. Here's why organizations choose Conexis VMS:
We work with teams at every stage, from first-time buyers to companies replacing outdated platforms that can't keep up. Either way, we'll show you what a modern VMS looks like, up and running in under 30 days.