Cuckoo, Cuckoo, Cuckoo – Is it Time to Invest in New Vendor Management System Technology? | DCR Workforce Blog

Cuckoo, Cuckoo, Cuckoo – Is it Time to Invest in New Vendor Management System Technology?

You’ve had your Vendor Management System (VMS) for years. It’s your go-to solution for all your contingent worker needs. And it works pretty well for those purposes. But now you’re moving into services procurement and using that same old trusty software isn’t as handy for services. It doesn’t quite do what you want it to do. Not even close.

Don’t go cuckoo

Before you go all cuckoo, look at these indicators that suggest upgrading is really worth the investment:

  • Mobile matters – Many older platforms are not fully mobile-capable. Or if they are, they still don’t support a fully functional mobile operation. Smart Track does. Our mobile platform is full-featured and gives users the exact same usability as the desktop version; it’s not just a limited app with some of the functionality. And it runs on Android and iOS. A mobile approach can be critical and should be an essential part of your strategy. So we built Smart Track mobile app with full feature-rich functionality. Everything you can do on the desktop version is baked in to the app.
  • Compliance changes – Rules affecting contingent workers, contractors and others classified as non-employees are a real risk for companies and agencies alike. Smart Track is designed to monitor and easily track the progress of compliance documents including alerts to expiry dates, ensuring proper pay rates according to local legislation and much more to keep your organization’s risk minimized, if not eliminated. The government has strict rules regarding compliance. And one of the lesser-known facts is that companies could be out of compliance just for the simple fact that they do not have the data necessary for compliance right at their fingertips! It’s not a nicety to have a system that’s fully up to date with all the latest regulations, it can be imperative to your livelihood.
  • Strategy simplified – With advanced analytics and future-forward predictive and prescriptive actions embedded in out technology, Smart Track is heads-and-shoulders above many other Vendor Management Systems out there. Advanced users who require greater analytics, will find that Smart Track is a robust system that is capable of handling all their changing needs and is so much more than merely a contingent worker tracker. Smart Track is able to provide you with forecasting abilities and trends, insights into relevant market data in real-time and sophisticated reporting capabilities such a segmented spend, cycle time, diversity spend and other metrics.
  • Strictly SOW – Statement of Work projects by their very nature are complex, fluid and often morphing due to scope creep, changing priorities or even lack of supervision. Smart Track’s SOW capabilities were not an after-thought. They were built specifically to handle the complexities inherent with Statement of Work projects, so we have all of the bases covered, and possibly some that you may not have thought of!­ If you have SOW projects an advanced VMS should be able to:
    • Assist in the RFQ/RFP process, negotiation and then segue into a contract
    • Offer visibility as to if a worker is associated with a certain project and track them accordingly against deadlines and/or milestones
    • Help decide whether a worker should be hired on a project basis or paid as a consultant for a finished product with proper classification and workplace relationship
    • Manage sub-projects, performance standards and metrics as well as deliverables for each stage of the project, setting responsibility and risk in case of failure to deliver per schedule
    • Track both offshore and onshore projects, with different rates, engagement structures and compliance requirements, time-and-materials, fixed-price and/or fixed-deliverables arrangements
    • Authorize payments as and when milestones are met and deliverables approved
    • Track non-billable/billable resources and hours
    • Generate reports on the performance criteria with special attention to the bill rate, number/quality of resumes and time taken to complete the project
    • Manage more than one SOW project simultaneously, charging payments to the right project and the right cost codes

You might think that you invested in this technology for the long haul, but let’s face it…technology is changing at the speed of light. And seguing to a new technology is not as time-consuming or as big of an upheaval to day-to-day operations as it used to be. Smart Track is a “true” cloud-based solution and DCR has an incredibly detailed change management system, including gamification, in place to make your move to Smart Track painless and one of the smartest changes you’ll make.


Disclaimer:
The content on this blog is for informational purposes only and cannot be construed as specific legal advice or as a substitute for competent legal advice. They reflect the opinions of DCR Workforce and may not reflect the opinions of any individual attorney. Do contact an attorney for advice specific to your issue or problem.
Shelley has been a published writer since 6th grade. She loves the creative process, and writes so much that it looks like her keyboard is on fire. She’s developed copy for Fortune 500 companies and won numerous advertising and marketing awards.