Vendor Management Systems
Read news on the impact and influence of Workforce Management Technology
What is a VMS?
A Vendor Management System (VMS) is software used to manage indirect contingent workforce procurement relationships with staffing vendors. A VMS allows talent, procurement and hiring managers to maximize profitability, optimize programs, and gain visibility over extended workforce operations.
Modern VMS solutions are cloud deployed and offer a richer portfolio of capabilities to support the lifecycle of contingent workforce management; including recruiting through direct sourcing and Statement of Work. This is why we describe Simplify VMS as moving beyond the VMS.
WHY DO YOU NEED A VMS?
A VMS helps you oversee and manage your contingent workforce all in one place.
Our vendor management software is built with powerful features to streamline workforce hiring and management process from req-to-check.
- Cut costs and time-to-hire
- Reduce compliancy risks
- Access a highly skilled talent pool globally
- Pay vendors and workers on time, every time
- Publish job vacancies to all of the major job sites to broaden your reach
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Move beyond the VMS
10 facts about Vendor Management Systems
1. Contingent work is becoming increasingly popular, with more than one-third of the US workforce comprising contingent workers. (Prosperix)
2. The right vendor management system allows for an increased quality of vendor selection, value, performance management, and improves relationships with vendors. (Zycus)
3. Finding the right vendors allows you to improve profits, save time, boost customer satisfaction levels, and more. (Fortyseven47)
4. Vendor management can assist companies in achieving strategic goals, such as reducing costs and improving vendor onboarding. (Fortyseven47)
5. While VMS adoption is 48% for businesses globally, US agencies are significantly more likely to deliver job orders through a VMS. 34% of US agencies expect an increase in VMS business in 2020. (Bullhorn)
6. A recent survey of some of the largest recruitment agencies in the world found that 100% of agencies with revenue over $100 Million USD did business through a VMS. (Bullhorn)
7. 71% of staffing industry clients now use a VMS. (Cwstrategies.staffingindustry)
8. More than half of staffing firms drive at least 25% of their revenue from a Vendor Management System. (Bullhorn)
9. A 2020 study by the Everest Group found that a large number of businesses are behind in developing efficient vendor management processes where staffing suppliers are well managed. (Prosperix)
10. From 16% in 2006 to more than 70% in 2016, small and mid-sized companies are increasingly using Vendor Management Software providing them with the control, process efficiency, and analytics needed to stay competitive. (Agile-one)
What you can do with a Vendor Management System
Next-gen technology for sourcing, managing, and optimizing your contingent workforce
Simplify VMS – the most customer-centric Vendor Management System is disrupting the talent solution marketplace