The Importance of Choosing the Right VMS
How to Select the Ideal VMS for Your Workforce
The world of talent and workforce solutions is ever-changing. As innovative talent approaches and creative recruitment processes seem to be emerging by the day, the entire industry has seen improvements in efficiency and overall performance.
Over the last several years, there has been a steady rise in the number of smaller, “boutique” vendor management system (VMS) platforms that have burst onto the workforce management scene. Historically, VMS vendors like Beeline and SAP Fieldglass have maintained a firm grasp on the market. But today, several different VMS platforms have challenged these marquee brands. Companies like VNDLY, Coupa, VectorVMS, Renhead, and others have made their presence felt in the VMS space.
With a suite of VMS systems available on the market, it can be challenging for organizations to choose the one that will best optimize their workforce programs. To ensure your organization makes the right selection, here are some tips to choosing the VMS platform that will bring the most value to your workforce:
In a perfect world, your VMS system will enable you to customize it to your liking. However, not all VMS platforms offer this kind of personalization. While some clients may value having less flexibility to keep their hiring practices consistent across hiring groups, others might prefer the ability to build out more complex hiring practices within the VMS. Whatever your preference is, it will be important for your system of choice to adapt to your current hiring practices and align with your required process flows.
Data and reporting
As our world has become one that revolves around data and analytics, the same is true for VMS systems. Leveraging a proven VMS with in-depth reporting capabilities will be critical in tracking supplier engagement, evaluating cost savings, measuring minority spend, and identifying overall program trends. Find a VMS that offers reporting dashboards that enable users to view data at a glance. Ensure that the system integrates with data analytics platforms like Microsoft Power BI and Tableau. But remember: if your VMS’s reporting competencies are too complicated, they will not be utilized by key stakeholders. Striking a balance between ease of use and sophistication is key.
When managing a contingent workforce, there are several HR compliance standards that must be met. Some VMS systems have built-in compliance features to assist with these initiatives. For example, during the resource’s onboarding process, some platforms will trigger emails to associate suppliers, detailing the documents that must be signed by the worker. This automation removes much of the manual work from the onboarding process, saving you time and money. When selecting a VMS, ensure that the platform enables you to attach documents for each worker on assignment. This will allow you to maintain all required documents like pre-assignment test results, workplace training completions, and signed codes of conduct in one secure location.
Integration with existing technology
There are dozens of HRIS and onboarding systems available in the marketplace today. Make sure that your VMS of choice connects with your internal systems to create a seamless process for onboarding and contractor assignment updates, changes, and terminations. In addition, most modern VMS systems can integrate with billing systems, which will enable a smoother remittance and payment process.
At Broadleaf, our organization has intimate experience in collaborating with many of the premier VMS platforms available on the market. We conduct in-depth consultation sessions with our clients to understand their comprehensive workforce needs before making a recommendation on the VMS system that will align best with their organization. If your organization is seeking to optimize your VMS selection, contact us today to learn how our team can help.
This blog was written by Broadleaf Senior Director of Business Development Gregory Gary.