For years, the dominant software solution for contingent workforce management has been the “vendor management system.” Originally developed to help procurement teams manage staffing suppliers or vendors who provided temporary labor or contractors for short-term assignments, the VMS has grown into a much more capable, versatile, and powerful contingent workforce management platform.
Today’s VMS solutions not only automate the contingent staffing process. They facilitate the sourcing and management of all types of non-employee labor and deliver a wide range of insights to help organizations make better decisions regarding workforce planning and talent acquisition.
With its capabilities to track, monitor, measure, analyze, and compare the performance of staffing suppliers and contingent talent, Beeline VMS provides the foundation for total workforce optimization – determining the right mix of employees and non-employees to achieve specific outcomes.
Whether you call it a vendor resource management system, vendor management software, external workforce solution, or contingent workforce platform, a VMS provides the necessary technology to run entire contingent workforce management programs – even global programs for the world’s largest organizations. In fact, more than 30 percent of Beeline clients are Fortune® 500 or Global 1000 companies.
Among the most important criteria are the depth and breadth of the solution’s functionality, including the capability to manage not only traditional contingent staffing, but also more complex services procurement functions and new, emerging talent sources, all in a single platform. As organizations increasingly focus on talent as a strategic differentiator, VMS solutions must provide increasingly sophisticated analytics to deliver the insight required to support total talent acquisition and workforce optimization solutions.
As a result of intensifying VMS functionality requirements, industry experts advise buyers to probe deeply into providers’ track records and product roadmaps to determine whether their performance matches their promises, and whether their commitment to innovation is robust enough to protect their customers from future threats and help them capitalize on future opportunities.
In addition to comparing VMS acquisition costs, experts advise conducting a rigorous analysis of the total cost of ownership of all VMS solutions under consideration. This should include program office staffing needs, which can vary dramatically based on the VMS selected, MSP service and support requirements, and hidden costs for VMS implementations, integrations, customizations, and other services not included in the initial VMS program contract.
You want a solution that will grow with your program and a partner who will support you every step of the way. At Beeline, we would love to talk with you about your program’s goals and what our solutions can do to help you achieve them.