Tag Archives: Vendor Management System

VMS 101: Big Risk, Bigger Control

June 5, 2015 | Leave a Comment By Louay Bachir

vms101I’m a believer that there are times in business (and life) when taking risks is necessary. However, managing your contingent workforce isn’t one of them, and the risks will only grow given that the demand for contingent workers is expected to increase in the coming years.

Typical internal systems and processes related to managing the contingent workforce are disjointed and inefficient, making it impossible for contingent workforce management (CWM) programs to effectively mitigate risk. Program risk comes in many forms and often doesn’t expose itself until it’s far too late. Continue reading

So, you are ready to take your program global…

March 18, 2015 | Leave a Comment By Dana Kauffman

As more companies bring non-employee spend under management and realize the benefits of a vendor management solution in their home country, attention shifts to expanding the program and realizing those benefits throughout the global business. I will be hosting a roundtable on this issue during IQNsider2015, but I want to share some thoughts in advance of the event.

One question we hear constantly is, “Where do we begin?”

Often, the best first step is to identify what aspects of your domestic program are providing the biggest value, and then compile a list of questions to help identify stakeholders, supply-base, systems, and data. Are your main objectives controlling costs, implementing standardized business processes, tracking spend, or ensuring compliance? Setting global program objectives up front lets you focus attention on acquiring better planning information which translates to a smoother path to a successful global launch. Continue reading

IQNavigator’s Product Roadmap: Brought to You by Our Customers

March 16, 2015 | Leave a Comment By Eric Riddle

The workforce is undergoing a sea of change, with more and more companies increasing their reliance on non-employee labor. As the workforce changes, so too should the tools that we use to manage that workforce.

At our IQNsiders event last year, we unveiled our product roadmap along with a timeline so that customers knew what to expect in terms of new functionality and understood when it would be in their hands. We are pleased to announce that IQNavigator reached key milestones, as promised, in our product roadmap with major platform enhancements that help companies manage their contingent workforce more strategically and efficiently. Continue reading

Benchmarking Your CWM Program

February 23, 2015 | Leave a Comment By Matt Katz

Where does your contingent workforce management (CWM) program stack up against the IQNavigator community of CWM programs? You will have a great opportunity to compare your program against peers in both your industry and with similar annual spend at this year’s IQNsiders event.

To help you break the ice, I have compiled two to three industry benchmarks on CWM program maturity that will provide for some great discussion during networking and breakout sessions this year in Phoenix. These benchmarks include comparisons of several common CWM program statistics, as a means of exposing differences in program definitions, program objectives, and their related sourcing strategies. Continue reading

VMS 101: Connecting Cost Savings to Temporary Labor

February 2, 2015 | Leave a Comment By Louay Bachir

vms101You’ve heard it before: time is money. This has never been truer for contingent workforce programs. In the first installment of our “VMS 101” series (Connecting Business to Temporary Labor), we identified seven primary benefits of managing your temporary labor program by leveraging a VMS. Today, let’s focus on cost savings. Looking at your enterprise goals for 2015, chances are, cost savings made the list in one form or another.

Have you thought about where to begin? I’m not talking about reducing headcount, rather, how do you plan to effectively reduce overall expenditures without reducing headcount? And how do you do it if your demand for temporary labor increases?

Faced with growth, enterprise HR and procurement organizations are spending more time, money, and resources on sourcing and procuring services. At the same time, companies facing a decline in revenues (think oil and gas today) are forced to cut spend and reduce costs. This is why more and more procurement organizations are tasked with identifying ways to control their services spend. It’s vital to connect the business to temporary labor—through understanding, identifying and appropriately controlling and reducing spend. Continue reading