Investing in a Vendor Management System is No Joke | DCR Workforce Blog

Investing in a Vendor Management System is No Joke

When it comes to talent management, investing in a Vendor Management System is no joke!

Most providers will show you how their system will provide the highest return on investment by giving hard examples of how they saved a client millions of dollars. And for many organizations, this is true and quite attainable depending on the amount of resources put forth into contingent labor. Just the visibility into the actual spend, will often help corral rogue spending.

However, there are other factors that you need to take into account when deciding which provider to go with – and these can be more subjective – but they should garner serious consideration and are no laughing matter. As a customer looking at adopting a VMS, you must be able to somehow measure the facets that are not measurable by instituting a value in place of money metric and give each one a weight. Below are a few of the top non-monetary attributes to consider when choosing a VMS:

Commitment to you

  • Know – Ability of account manager to answer tough questions, access relevant subject-matter experts and exposure to provider’s sensitive information
  • Like – Quality of vendor-customer relationships and likability
  • Trust – Promises and assurances vendor makes are honored

Flexibility for your company

  • Ease of negotiation and flexibility with contract terms
  • Ability to quickly respond to unanticipated issues
  • Willingness to modify systems for customer’s needs

Innovation for the software

  • Continuous innovation and ever-evolving research, design and development
  • Participation on vendor’s customer advisory board
  • Progress of vendor in achieving relevant industry awards and certifications

The features and functions of the VMS itself are extremely important, but often just as imperative is how the account manager, help desk and other staff respond to your needs before, during and after the implementation. Don’t be fooled by a slick sales presentation with lots of facts and figures. Often what you get behind the scenes is more significant to your day-to-day business operations.

Check out this video to see how a Vendor Management System can make your work life less stressful.

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.