What is a Vendor Management System (VMS)?
A Vendor Management System (VMS) is basically a software tool used by business to manage companies that supply labor to them. However that doesn't even begin to do this valuable system justice. A VMS is that "thing" you didn't know you really need... just like other software programs you perhaps were oblivious to but now you just can't live without it.
Simply put: Instituting a VMS, namely Smart Track, DCR's SaaS-based Vendor Management System (VMS), will significantly reduce labor costs by helping to eliminate rogue spending and scope creep as well as save you considerable amounts of both time and effort by giving you access to the best talent pool and significantly streamlining your work processes. And best of all, you can instantly access this on-the-go with our mobile app.
So really, a better definition of a Vendor Management System is a sophisticated software program that provides precise monitoring, consolidated billing and detailed reporting as well as comprehensive analysis and visibility into all operations with labor suppliers (aka vendors). Most importantly, these capabilities significantly outperform manual processes and individual software systems by condensing the data into one sleek dashboard.
Do You Need a Vendor Management System?
If you don't already have a VMS, you may be missing out. Sure, you may have convinced yourself that your business wouldn't benefit from having a VMS, but ask yourself some important questions:
Do you find great non-employee/contingent talent when you need it at a moment's notice?
Are you paying the best rates for contract workers and SOW/task-based project?
Are those hired compliant with all laws governing the use of a contingent workforce and your company policies?
Can you accurately forecast the types of workers you'll need in the future?
If the answer is "no" to any of these, Smart Track Vendor Management System can help you change that.. The reality is that you realize your labor costs are too high, you know your success rate at hiring the perfect person for each position has been less than satisfactory and you can't say with complete confidence that all your workers are in compliance with all regulations and corporate policies. Smart Track, DCR's VMS, exists solely to help you answer "yes" to all the questions above with certainty.
Why Is Smart Track the Vendor Management Software of Choice?
It’s true. VMS companies generally make the same claims about being superior to others in some manner, so what makes Smart Track, DCR’s Vendor Management System, stand head and shoulders above the rest? We could tout that it offers the complete package, otherwise known as a Total Workforce Management System, but we’d really like to boast about these two innovations...predictive analytics and mobile connectivity.Predictive Analytics
Full visibility into the here and now is precious, but the ability to predict future needs and outcomes is priceless. Our decision-making processes use machine-learning algorithms and data science to build an engine for predictions and recommendations. These processes sift through volumes of data including historical and current market trends to predict worker behavior and provide recommendations based on predictive forecasts.
Basically, Smart Track takes in “big data” and narrows it down to the “right data” you need to make strategic decisions that are in the best interest of your business.
Yes, there is an app for that...a fully functional application in fact. Smart Track mobile knows no bounds. It can be used anytime by anyone from anywhere there is an internet connection.
Whether at noon or midnight, whether a hiring manager or a worker, whether in Miami or Paris, Smart Track is available, fully functional and ready to help you make those strategic decisions wherever you are.