More and more organizations are relying on the use of contingent and project-based labor to complement their permanent workforce. The increased use has stemmed from a variety of factors including economic uncertainty, skill shortages, and individuals choosing to enter the workforce through alternative methods. With the upward trend of contingent and project-based labor usage and regulatory changes across the globe, it is imperative that organizations have full visibility into all classifications of their workforce.
This webcast will explore the evolution of Vendor Management Systems (VMS) and current trends associated with the Vendor Management System. Simply put, VMS is the software that automates the hiring process of contract workers. It is often an Internet-enabled, Web-based application that helps to manage and procure staffing services from requisition to billing and reviewing. Most VMS tools are delivered through a software-as-a-service (SaaS) model. VMS tools provide significant improvements in reporting and analytics capabilities that far outperform manual systems and processes. VMS tools are typically operated externally by an MSP (managed service provider), by the VOP (vendor on premise) or internally within an organization by a VMO (vendor management office).
A VMS is implemented to reduce costs, enforce policy and improve the quality of contingent and project based labor programs. You will discover how the workforce is changing across the board in terms of demographics, headcount, strategy, and cost management. Learn how your contingent labor can be divided into four key areas to better help manage your workforce. In this webcast, you will review the different improvement models and discuss how to begin building a business case.