Vendor Management Systems/Software (VMS) enable companies to automate staffing workflows. VMS technology is an Internet-enabled, often Web-based application that acts as a mechanism for business to procure and manage staffing services providing contingent workers and direct hire placements. Typical features of a VMS include:
- Order distribution
- Compliance monitoring
- Performance analysis
- Consolidated billing
- Detailed reporting capabilities, analytics, and real-time, actionable data
- Timekeeping
VMS Value Overview
- Procurement
- Requisition distribution
- Job descriptions/templates by function and department
- Order management
- Headcount management
- Candidate submission pipeline monitoring
- Hiring approvals
- Interview process tracking (if needed)
- End user profile
- Performance
- Onboarding
- Screening
- Training compliance
- Recruitment lifecycle
- Candidate ratings and notes
- Quality metric dashboards
- Document compliance
- Notifications
- Supplier audits
- Payment
- Consolidated invoicing
- Pay/bill rate management
- Financial reporting
- Miscellaneous expense management
- Timekeeping