Decrease Costs

• Evaluate labor types and associated costs
• Compare and consolidate vendors
• Capitalize on known talent sources
• Helps to eliminate rogue buying of labor and spend. Companies can gain hard dollar savings by consolidating vendors and benchmarking rates to gain negotiated savings or volume/early pay discounts as well as soft dollar savings through process improvements like consolidated invoicing, reduced timecard and invoice errors and compliance tracking.

Visibility

• Cost savings from a VSM are driven by the analytics and reporting which help reveal where and how an organization is spending money on contract and project-based labor in order to make better decisions for the future.

Improve Efficiency

• Experience shorter ‘requisition to check’ cycles
• Automate on boarding/off boarding processes
• Configure workflows and approval chaining
• Companies can automate many steps in the procurement cycle, reducing the time to fill positions, consolidating billing and vendor payments and ensuring 100% invoice accuracy.

Enhance Quality

• Use decision tools to determine right worker type
• Access business intelligence resources
• Improve supplier communication
• Allows a company to measure and monitor the performance of its vendors and flexible workforce as well as to ensure that they are creating a streamlined process for suppliers and a strong on boarding program for contractor

Enforce Compliance

• Leverage localized technology for language and regulations
• Meet corporate and governmental policies
• Create better controls around approvals, on boarding/off boarding, etc.
• Transparent analysis of all stages of the procurement lifecycle provides greater control and ability to enforce procurement strategy and policies. By implementing a VMS and having full visibility into a company's staffing spend and activity, an organization can mitigate concerns and potential exposure to litigation around co-employment by effectively managing tenure rules.