Vendor Management Systems (VMS) – One Size Doesn’t Fit All
For over a decade, we have delivered cutting-edge MSP programs powered by leading third party VMS technology. While our partnerships with VMS providers are highly successful we have also recognized that this robust platform may not fit the small or more casual user of outsourcing. As adoption of VMS technology by the largest users of contingent labor continues to rise, many small to mid-sized users of contingent labor want to achieve the benefits of VMS without making the significant investment in technology, or the associated learning curve, required with a major VMS implementation. Based on our experience in the marketplace, we know that this need is not being effectively served.
For more than two decades, StaffTrack has been the best tool on the market for managing large-scale outsourced workforce management solutions that require precision. When it became clear to us that small to mid-sized customers were not able to fully participate in the VMS platform, it made sense for us to create a solution to meet the needs of the small to mid-sized user. The end result is StaffTrack’s essential VMS functionality which we are in the process of rolling out. The new functionality streamlines the most essential vendor management related activities with an eye towards efficiencies and ease of implementation for both our clients and their vendors.
So what does StaffTrack do?
StaffTrack’s streamlined, user-friendly and configurable web-based VMS application automates the process of procuring and managing contingent labor from requisition through timekeeping and invoicing, and supports multiple sourcing models.
Our Clients can monitor, track and enter updates and changes to their requisitions. Detailed reporting is available, including order volatility, payroll and invoicing reports. Client users can see weekly dashboard data on active contingent headcounts, turnover and attendance and retrieve consolidated invoices. Additionally, clients have the ability to approve time in StaffTrack before it’s submitted for payroll and invoicing.
Our Vendors have access to a unique vendor-facing portal which provides a dashboard with reports on current assignments, associate profiles in the database awaiting a position match, recently terminated associates, and open requisitions for them to fill. Vendor users can upload, or manually enter, a list of resources they wish to attach to an open requisition, plus they have the ability to enter or upload time for their associates that are on assignment. They then receive a reverse invoice for hours billed and approved in a given week, in lieu of sending their own invoice.
Our Service Teams can approve assignments, or configure automatic approvals, for the resources suppliers have added. Service team users manage StaffTrack with the ability to change assignments, terminate associates, add associate communication documentation such as coaching and counseling notes, and much more. Service team members have the ability to run reports and/or queue them up for clients. They can also add work order numbers, pay and bill rate data and perform billing reconciliations.
StaffTrack is not the ideal tool for large scale users of contingent labor, but it offers strong value for small to mid-sized clients by providing the benefit of centralized invoicing, reporting and vendor management and alleviating the burdens of heavy administrative work. StaffTrack allows companies to streamline processes in a cost-effective way and, with automation increasingly playing a larger and larger role in manufacturing and distribution environments, StaffTrack makes it possible for clients of all sizes to benefit from technology and streamlined processes. Read more about StaffTrack’s Vendor Management functionality and key benefits.