Vendor Management System (VMS) is a cloud-based tool, which is used as a platform by organizations for managing and procuring contract labor or permanent staffing. VMS system offers a variety of significant options for organizations to conveniently execute the recruitment process, such as reporting capability, automated billing and wages consolidation, process distribution, so as to outperform manually operated processes.
The tool is specifically beneficial as it automates complex processes so as to reduce the time required for completing the recruitment and the associated cost. VMS system helps organizations facilitate the hiring and assessment process, as well as labor time analysis and wage approval and payment.
VMS system is an innovative and cost-effective application that can be broadly implemented to different precincts. It offers a comprehensive solution to organizations so as to structure the process, reduce turnaround time, increase organizational efficiency, and manage project and operations.
Features of VMS
For a comprehensive e-procurement and contingency labor management, VMS offers a very robust and agile work platform for organization to automate and streamline their recruitment procedures. Some of the features of VMS include:
- Time management
- Expense management
Benefits of VMS
- Consistent in managing organizational processes and strategies for vetting and on-boarding contingent labors
- Ensuring timely and coherent audit schedule of organizational supply base
- Improves visibility, thus reducing issues related to risk and compliance
- Comprehensive back-end support
- Initiate comprehensive badging procedures
- Allows integration of access parameters with IT
- Enforce access criteria for contingent labors based on their location and roles
- Automates approval process for an advanced and efficient visibility standpoint
- Standardization, centralization, and automation of identity management solution
- Job Portal
- Client login
- Employee login
- VMS portal
Cloud Big Data VMS Portals
VMS system includes different portals; each with a different set of functions to ensure optimization and standardization of the contingency recruitment.