Streamline Your business with Cloud-Based Vendor Management Systems from Ignatiuz
Many workforces are evolving into a mix of different types of workers-- full-time, contract, and everything in between.
This changing workforce can make managing vendors difficult and labour-intensive.
But it doesn't have to be. Our innovative vendor management solutions offer a high-performance platform and user-friendly interface, with features including:
- Online and offline vendor registration
- Post addenda with notification to vendors
- Bid posting with expiry dates
- Custom workflows
- Cloud-based and SharePoint on-premises compatibility
- 99.9% uptime guarantee
- End-to-end visibility
- Email delivery and opens tracking
- Exchange calendar integration
- Cost-effective subscription plans
- Vendor activity tracking
- Priority support
Vendor Management Systems with Ignatiuz
Our Philadelphia-based VMS experts are committed to helping you reach your goals with vendor management solutions and subscription plans tailored to your business! Contact us today to learn about our industry-leading vendor management system options.
What is a Vendor Management System?
Technological advancements and breakthrough innovations are paving the way for a paradigm shift in the business ecosystems, be it related to product/service offerings, or managing a dynamic, and competent workforce. Day to day business operations are undergoing substantial changes and businesses need to equip their professional pool to cater to the existing and emerging demand. While keeping an in-house team of experts in numerous domains may get pricey, hiring a contingent workforce on-demand is a perfect solution. A vendor management system or VMS will play a pivotal role in this.
A vendor management software is essentially a web-based application that allows businesses to manage their entire contingent workforce through a robust, easy-to-use, and scalable solution. Hiring a contingent workforce includes several aspects that are intricate, and critical. Businesses have to stay connected with staffing agencies consistently, conduct interviews, and screening processes apart from the ultimate hiring process. However, with a VMS in place, this entire hiring process can be automated rather seamlessly. A VMS can be a one-stop solution for sourcing a contingent workforce, acquiring, managing, and remunerating the contingent workforce.
A VMS can automate the entire process of contingent workforce hiring, from collecting requisitions to onboarding to gathering, and storing relevant data. Besides, businesses can leverage a VMS for spend tracking, acquiring insights into candidate information, payroll, and invoice data.
Benefits of a Vendor Management System
A VMS will be pivotal for businesses in managing their temporary extended workforce in an easy, efficient, and hassle-free manner. Here are some of the key benefits associated with a VMS.
If done manually, a contingent workforce management process may get tricky, cumbersome, and error-prone. There are risks of process fragmentation, lack of cohesiveness, and transparency among the various stages of the hiring process, which may lead to unbudgeted spending. However, with the right VMS solution, businesses will have greater transparency, collaboration, and control over the contingent workforce spend.
Hiring Process Automation
With a manual approach to contingent workforce hiring, businesses are at a greater risk to invest unwarranted resources and time. The tasks may get redundant, labour-intensive, and may lead to costly errors that could be avoided by leveraging a robust VMS solution. Be it onboarding, reviewing timesheets, or analyzing individual performances and payroll management for the contingent workforce, all these processes can be seamlessly automated with a VMS solution.
Efficient Spend Tracking
The whole idea of having an extended contingent workforce is cost saving. However, manual hiring processes are susceptible to human errors, which may lead to unbudgeted spending. With a VMS solution in place, businesses can effectively track the spending associated with the contingent workforce, compare the spend against industry standards, and undertake requisite corrective measures.
A Futuristic Solution
Remote working is becoming the new normal and businesses are no longer apprehensive of the idea of having a remote, temporary workforce, who are available on-demand. With a scalable VMS solution, businesses can stay prepared for the futuristic work ecosystem.