Getting a handle on Statement of Work (SOW) spend can boil down to the ability to see the forest through the trees. It may seem like an unfeasible undertaking to centralize the management of your SOWs; however, it is possible if you take a systematic approach to understanding how your organization currently uses them.
The reference check is the home stretch in your ongoing effort to secure a Vendor Management System (VMS). After the Request for Proposal (RFP) process and product demonstrations, you’re nearing a final decision and honest feedback from other users will help you further compare the differentiators that make one provider stand out from another.Read more →
The product demonstration is where the rubber meets the road for a Vendor Management System (VMS) provider. After the arduous Request for Proposal (RFP) process, the demonstration is an opportunity for you to see the user interface, learn how to manage specific tasks and get questions answered related to your business objectives. More complex issues such as integration and implementation can be touched upon as well. But as each organization has its own unique processes and set of business needs, how can you be assured you’re asking the right questions?Read more →
Evaluating a Vendor Management System (VMS) can be an overwhelming process if you don’t know the right questions to ask in a Request for Proposal (RFP). You will want to conduct a thorough review of the vendor’s business model, core VMS functionality and differentiating offerings such as business intelligence, integrations and customer service. As you begin to assess different vendors, this document can help guide your RFP and ensure the most important areas to your business are addressed sufficiently.Read more →
Second generation Vendor Management System (VMS) reporting and analytics capabilities have arrived to help you uncover critical data and insights to improve performance today and to make smarter workforce planning decisions for the future.
Applying the rule of three, the business intelligence needs for managing contingent labor programs can be broken down into three simple, yet critical phases:Read more →
Initiating a large scale project to manage contingent workers and service providers that can involve upwards of $1B in spend can be daunting. Once your team makes decisions about how to structure the program and what vendors to partner with, the real work begins.Read more →
As companies grow and merge nationally and internationally, acquiring the right talent has become more difficult. Many companies turn to contingent labor to meet their needs. However, hiring highly skilled labor on a project basis has its own set of challenges, especially for multinational firms that must contend with languages, cultures, currencies, time zones and employment regulations that vary by country.Read more →
Vendor neutrality represents a common requirement for many customers. The requirement is created when customers desire an outcome (in this case, unbiased staff provisioning), and then select a framework for getting there (vendor neutrality). By the prevailing definition, what they are saying is that they do not want the Program Provider (MSP) to participate in staff provisioning.Read more →
Offshore outsourcing (offshoring) is currently a hot button issue, both in the IT world and the business world in general. Offshoring certain types of jobs offers definite economic, productivity, and sometimes even quality advantages.Read more →
Companies that are formally managing their contingent workforces are increasingly interested in realizing similar benefits from their consulting engagements, offshore initiatives and other outsourced services typically procured through a statement of work. The benefits derived from managing a contingent workforce program also apply, and in fact multiply, when extending the solution to manage other types of services.Read more →
Risk is on the rise for employers today, but it’s a new brand of risk. Separate from the conventional liability and retention risks employers have always known, this new risk emanates from the rapidly growing use of contingent workers. As the role of contingent workers expands across the globe, businesses are confronting new management challenges.Read more →