A fully integrated VMS can drive efficiencies within an organization, as well as enhance the overall effectiveness of contingent workforce programs.
THE CONTINGENT WORKFORCE LANDSCAPE
The contingent workforce is a growing segment of the global workforce. In fact, according to Staffing Industry Analysts, contingent workers currently make up over 40% of the total workforce in the United States.
Managing a contingent workforce can be a challenge for businesses. Sourcing the right worker for the job, timely onboarding and offboarding, capturing hours worked and allocating those hours to the correct account, accurate billing and payments, and visibility of the entire contingent workforce and associated spend can be problematic without enabling technology. Our VMS (vendor management system) platform, ELEVATE, is the underlying technology which more and more companies are relying on to enable their programs.
Our clients look to ELEVATE to be the system of record for contingent worker management. As such, it is a core system in our clients’ enterprise architecture and can involve numerous upstream and downstream integrations and file transfers. A fully integrated VMS can drive efficiencies within an organization, as well as enhance the overall effectiveness of contingent workforce programs.
BENEFITS OF VMS INTEGRATION
There are many benefits to integrating a VMS with other enterprise systems. Some of these benefits include:
- Increased efficiency: VMS integration can help businesses save time and money by automating tasks and improving communication
- Improved security: VMS integration can help businesses protect their data and intellectual property by providing a more secure way to manage contingent workers
- Enhanced compliance: VMS integration can help businesses meet compliance requirements by providing a more efficient way to track and manage contingent workers
- Improved customer experience: VMS integration can help businesses improve customer service by providing a more seamless experience for hiring managers, suppliers and contingent workers
(Part one in a three-part series)
To learn more about how ELEVATE and Workato are collaborating to provide VMS integration solutions, download our white paper, Vendor Management System Integration and Automation to Maximize Efficiencies in Contingent Workforce Management.