Before you implement a successful Vendor Management System (VMS), start by building a case for one.
For companies still using manual processes or outdated automation tools, building a business case for a VMS can seem almost overwhelming. It does not have to be. That is why we have compiled these thorough but simple instructions for building a successful business case.
- Know what the right questions to ask
- Learn the information you need to collect
- Identify the necessary risks, rewards, and ROI projects
- Assemble and organize all the elements needed to win executive approval for a VMS
Procurement, sourcing, and human resource professionals know that a data-rich, enterprise-wide vendor management system is vital for effective management of their extended workforce – a workforce that includes contractors, project-based consultants, and outsourced service workers.
With nine out of ten companies expected to explore or adopt a VMS this year, now is the time to prepare a business case that resonates with your company and prepares you to select the right VMS partner to meet your needs. Adopting an effective VMS is no longer a luxury – it is a business imperative.
Learn the six steps to building a winning business case for your VMS. Download our ebook.