Vendor Management Systems (VMS) , 2022, Worldwide
Flexible and contingent workers have become a significant component of any permanent workforce, reflecting a trend that has been gaining momentum in recent years. The Vendor Management System (VMS) is a critical aspect of managing this contingent workforce, which consists of individuals hired by enterprises for specific time periods or project-based roles, allowing access to talent that would otherwise be difficult to obtain. A VMS provides valuable insights into contingent workforce management, resulting in cost reductions, improved supplier performance, and the identification of potential risk areas. It offers the transparency required by organizational management to ensure that they engage eligible talent with the necessary qualifications. Additionally, the advanced functionalities of a VMS make it a comprehensive solution for end-to-end contingent workforce management, facilitating efficient evaluation of multiple vendors offering similar services. Vendor management systems ...