Even if you never thought about having a vendor management system, you may be in need of a way to organize your business. A VMS might be the best solution for you. But how do you know for sure? What are the signs that your organization could benefit from a VMS solution? The first step, as always, is research and we have some information to get you started. Let’s take a closer look at how your company could benefit and what to look for while searching for a VMS.
1. Documents out of control
There is practically nothing more important in today’s business climate than protecting your data. And while you need to have a good information security plan in place, it won’t do much to protect your documentation if you don’t already have a control process at hand. A VMS can be the gateway to that protection.
2. Efficiency needs improvement
By having all your information in one place, accessible by anyone with the right credentials, you can improve overall efficiency. By needing to resource several places for different information, you’re taking valuable time away from your employees that they could be using to earn money for the company and themselves.
3. Costs are out of control
While the initial investment into a VMS can be great, the streamlined processes will introduce to your company will initiate long-term cost savings. The right VMS will help you save money as well as time. The process of onboarding a new vendor can be time-consuming, but it is essential to look at the cost of this time, as well.
4. Risk is not properly managed
Mitigating risk is an essential part of doing business, and without one resource for tracking and evaluating your vendors, you may miss some very important information. You can review qualifications and performance and track certifications. A VMS will even give you access to financials to make an informed decision when choosing a vendor.
5. No method for tracking metrics
With the right VMS, you can also track a huge amount of data. In fact, Big Data is currently the fastest-growing section of business information, and your VMS will give you the ability to track the right metrics and the tools to create in-depth analysis across all your platforms and for all of your vendors.
If these signs sound familiar, Anserteam can help. We’ve done the research and fostered partnerships with the best forward-thinking technology organizations around. Our Vendor Management Solutions (VMS) technologies are easy to implement, easy to use, and bring total visibility and accountability into your labor management program. Do you want to learn more about Anserteam’s VMS programs?
About Anserteam Workforce Alliance
Anserteam Workforce Alliance represents North America’s very best staffing agencies aligned together to deliver world-class workforce management solutions. We offer end-to-end talent services that can be customized for any size business, utilizing our Managed Services Provider (MSP) model and Vendor Management Solutions (VMS) technology. Is your organization seeking a WBENC-certified diversity partner to provide measurable results and substantial cost savings? Contact us today.