What is a Vendor Management Software?

The workforce economy is expanding and so is the need to integrate with a vendor management software. Companies these days have various types of the workforce in place being paid through different models. It has become more and more complex to manage these vendors and provide their services to companies, a need for technology to help manage their data and complex processes became crucial.

Vendor Management System is a cloud-based IT system built to help businesses manage and procure their contingent Workforce. Backed by automation, the system is designed to collect, store and prepare data related to various functions revolving around the vendors at a company. 

 

What features does a Vendor Management System offer?

Contingent Workforce Systems are built with the aim to offer total talent management to companies. From onboarding to managing a worker’s performance and attendance, a good VMS is expected to perform all relevant roles. Below is a list of features offered in a vendor management system:

  • Talent Pool: A talent pool creates a list of all the talent that applies to various job openings. Here, you can filter the list on the basis of certain parameters such as qualifications, experience, skills, etc. to sort the best candidates for a role. 
  • Applicant Tracking System: This system is designed to keep complete track of every candidate’s progress, making it easier for you to shortlist, select and reject candidates. 
  • Learning Management System: Some of the best VMS companies in the USA also provide a solution for training your vendors in their system. The integrated Learning Management System trains and assesses your workers through questionnaires, videos, and webinars. 
  • Documentation and Credential management: Since VMS is a cloud-based software, it often comes with a dedicated space to store all your vendors’ documents such as resumes, personal ids, portfolios, previous employment papers, 
  • Calendar and Scheduler: A vendor management software is a system that is designed for the convenience of workers also along with the company. It comes with a feature to schedule and remind you about upcoming meetings, events, holidays, and occasions. 
  • Built-in Video Conference: Save hefty amounts paid to video conferencing tools as several VMS systems come with an in-built video conferencing tool that allows you to connect with workers directly.
  • Timesheet and KPIs: VMS offers a platform to your vendors to fill their timesheets. They can also keep a track of their KPIs and attendance from the system itself.
  • Predictive Performance Analysis: The system uses its analytical capabilities to track and analyze the performance of your workers and helps you in employee journey mapping.
  • Payroll, Tax, and Invoicing: The user-friendly software enables workers to file their taxes, download payslips, claim reimbursements and perform many other payrolls and invoicing-related functions. 
  • Offboarding and Succession plan: VMS aids in a smooth transfer of information and ensures data safety at the time of offboarding and succession of workers. 
READ  Telegram's new reaction and interactive emoticons

 

What are the benefits of using a VMS?

  • Improved Vendor Relations: Our VMS was designed keeping in mind the ease for all its users, be it the management or vendors at an organization. The system makes several functions convenient and handy for vendors. Its data security, data storage, and communication capabilities are unmatched. Satisfaction offered to vendors improves their relations with the company in the long run. 
  • Analytical Visibility: Backed by advanced analytical capabilities, the system smoothens process workflow, proving to be the best recruitment software.
  • Value to Time: Vendor Management System proves to be time saving in more than one way.
    • Most VMS companies integrate the system within 60 days.
    • It allows recruiting managers, MSPs, HRs, vendors, and candidates to move quickly through the hiring process.
    • Automated technology mitigates human errors, delays and bias results.
    • While document storage saves time searching for important files, software integration decreases to-and-fro between platforms.

Why Choose FlentisPRO?

Flentis is a VMS company that uses its experience of 50+ years in the industry to offer solutions to the needs of your business and the market. Our technology expert minds and industry experts together build FlentisPRO, a top-grade platform. Here is what makes us distinct from other systems available in the market:

  • System Integration: FlentisPRO integrates your in-house applications into the system to offer a complete solution for all your needs. Some of the systems that can be integrated with our VMS are ATS, AI chatbot, ERP system, LMS, Payroll software, and email, SMS, and social platform plugins.
  • Customizable: Our experts spend time learning about your organizational structure, process workflow, and other determinants to understand your company’s specific needs. Once we know exactly what you are looking for, we combine services that meet your requirements and build a system made uniquely for you. 
  • Personalization: When we say we build a system uniquely for you, we mean it. We offer a white labeling service for your VMS that will not only offer a branding edge but also enhance customer experience, thus boosting your impression. 
  • 24/7 support: Our team is available 24/7 over call, email or video sessions to help you with user guides, training your team, and hand-holding through dedicated accounts experts
  • Cost-efficient: FlentisPRO does not charge any extra costs for using the platform. This helps you to reduce management expenses and onboard talents at a very low cost.
READ  Essentials That You Must Know Before You Get a Clubs Subscription & Recurring Payment Management Software

Now you would have understood what a vendor management software is, what benefits does it provide to your organization, the features that would work for you, and how can you grow with such a VMS. You would have also understood how can you stay ahead of your competitors, save costs, onboard valuable vendors, and manage the vendors without much hassle. Feel free to reach out to us at info@flentis.com and take a demonstration of FlentisPRO for efficient management.

 

gomezcarolina

Learn More →
error: Content is protected !! :)