First time VMS buyer? 8 Must-Have VMS Capabilities to Guide Your Search?

Investing in a Vendor Management System (VMS) to manage your contingent workforce is crucial to stay future-proof and ahead of competition, but it can be stressful for first-time buyers. With many disorienting options and confusing messaging, finding the right VMS to fit your needs can be daunting, especially considering these decisions often result in long-term partnerships. ?

Here are some questions you can ask yourself:?

• Do I have clear visibility and insight into my?contingent talent???

• Can I?immediately report on my entire extended workforce????

• What are my supplier performance metrics????

• What do my spend inefficiencies look like? Do I have any blind spots??

• How far ahead can I set my budget goals? ?

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VMS capabilities you need to look for in a VMS?

Whether it’s powerful analytics, flexible integrations, or AI-driven automation, the right VMS can transform your contingent workforce management and set your teams on the path of success for years to come.?? ?

1. ?Your new VMS should fully integrate with any HCM you have.?
2. Your new VMS should be able to automate your contingent workforce processes. ?
3. Your new VMS should empower your team, streamline their work, and enable immediate implementation for a seamless start.?
4. Your new VMS should take data and create an easy reporting experience for every stakeholder. ?
5. Your new VMS should be able to accelerate your hiring processes, giving you quick access to the best talent.
6. Your new VMS should make you and your team compliant and support risk management.? ?
7. Your new VMS should keep your data secure and protect sensitive information.?
8. Your new VMS should help you achieve long-term cost savings. ?

Selecting a VMS for the first time can?create?impact?that will stay in your organization for years to come.? ?

Dive deeper into each of the points above and discover what makes Flextrack different from legacy VMS.?

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