The Joy of VMS: Everything You Always Wanted to Know about VMS but Were Afraid to Ask | DCR Workforce Blog

The Joy of VMS: Everything You Always Wanted to Know about VMS but Were Afraid to Ask

When you’ve finally come to the realization that you need a Vendor Management System (VMS) or are ready to upgrade to a more flexible option, you may be a little timid to ask the necessary questions to get what you need. Or maybe you’re not even sure what you should be asking! This isn’t meant to be a quickie decision; it’s destined to be the beginning of a long-term relationship, so get all of those questions in up front.

As with any great relationship, finding the perfect VMS starts with good communication. Here are some questions we find many prospective clients ask us about Smart Track, as well as a few questions that they should consider asking us. So here’s everything you always wanted to know about VMS but were afraid to ask…

How does a VMS help me manage my organization’s compliance requirements?

A VMS can help you with a variety of compliance issues including:

  • Management of onboarding and offboarding requirements
  • Asset management
  • Security clearance management
  • Security checks
  • Audit logs that are built into every process that requires user action

How easily can I access my data?

You can access your data instantly through our cloud-based portal. Additionally, you get:

  • Instant access to big data and Smart Match Index Intelligence for candidate matching for enhancing strategic decision-making
  • Dedicated analytics team committed to helping you make sense of your data to uncover insights and predict trends

Will I have full ownership of my data?

  • Your data is yours and yours alone
  • DCR has a “brick wall” to protect your data’s integrity

How long does it take to implement a VMS?

This is always a tricky question to answer. Each program varies due to various components, customizations and integrations, but DCR has a team of Subject Matter Experts (SMEs) who lead the implementation from beginning to end and operate within the parameters of the Agile Methodology, making the implementation as smooth as possible. DCR provides our clients with:

  • Implementation “consultants” to guide and help your organization through change management
  • Implementation leads to oversee the process
  • Gamification, which helps solve adoption, inclusion and engagement issues so your managers will want to use Smart Track

Will I get the same software as everybody does?

  • Smart Track is built with flexibility in mind. DCR ensures that our VMS fits your business needs, rules, etc.

What are the benefits of a VMS if I manage my program in-house?

  • Streamline processes
  • Manage compliance requirements
  • Transparency and visibility
  • Cost-savings driver

Will my suppliers leave if I implement a VMS?

  • Most suppliers are accustomed to working with a VMS.

What is the supplier-funded model?

  • Supplier bears the cost of the program
  • Rebate is given to your organization
  • Smart Track ultimately provides improvement and efficiencies that outweigh any fee incurred to suppliers

What are the benefits of a VMS to my current suppliers?

  • Streamlined and timely payment, including report visibility
  • No need for manual billing
  • Regular performance review
  • Complete visibility into their scorecards for transparency on performance
  • Employee management made easy
  • Seamless onboarding
  • Network of suppliers
  • Streamlined recruiting

How does a VMS help me streamline the supplier payment process?

  • Integrated process from recruiting to payment
  • No billing required
  • Visibility into timesheet status

Can a VMS like Smart Track support integrations? Is there a limit on which and how many systems it integrates with?

  • Smart Track is fully compatible with and integrates with industry-leading applications such as ERP, HRIS and timekeeping plus procurement applications such as SAP, ARIBA, KRONOS and more
  • We have integrated with 50+ other applications and counting

Does Smart Track have a built-in timekeeping service if we don’t have one to integrate with?

  • Yes

And of course, the most intimate of questions: “What will it cost me?”

We wish we could give you a pat answer of “x” dollars. We don’t like to beat around the bush, but the cost of a VMS is like the cost of a wedding – the more items you add and the more upgrades you require, the more the expenditures add up. The answer boils down to this: The cost of implementing Smart Track is going to be model-dependent, but DCR will bear the entire administrative cost of the program and we also bear most of the implementation cost – which depends on the number of integrations required, customization factors and other items on a more personal level.

The most important consideration is really: How much will implementing Smart Track SAVE us over the course of a year, two years, 10 years? And with our incredibly precise data, we’ll be able to tell you that and much more that you aren’t seeing now with either no system or an outdated system.

OK, so it’s still probably not “everything” you wanted to know because you still may have questions that are specific to your industry, so if you have further questions, just post in the comments and we’ll be happy to answer you!


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.
Rich has served in many different areas in DCR including playing a key role in driving the company’s growth. He has successfully implemented numerous VMS/MSP solutions across a wide array of industries, including defense, utilities, oil and gas, financial and banking, manufacturing, retail and advertising. He enjoys a good concert, has an amazing record collection and has fun trying new restaurants (as long as the food doesn’t have a face).