Building a Business Case for a Vendor Management System: Managing Your Contingent Workforce and Complex Services Spend Programs

Vendor Management System (VMS) technology automates and streamlined the manual processes associated in acquiring and managing contingent labor, and increasingly can handle other complex services categories. In a 2008 Contract Labor Management study conducted by Aberdeen Group, reports that, “With technology usage, organizations can gain a plethora of benefits while sourcing the right prospects for temporary projects.” The same research demonstrates that those organizations that use contract talent management services and technologies are more likely to be “best-in-class” in terms of how they manage their workers. As such it is not surprising that Staffing Industry Analysts predicts the use of VMS will grow dramatically in the next couple of years. According to SIA’s 2009 Annual Buyers’ Survey, VMS usage will grow to 81% in 2011, up from 34% in 2007.

In most organizations whenever a project requires funding, it is likely a formal business case will be needed. There are several key considerations for developing a VMS business case. Citing recent industry research, practitioner lessons learned and best practice standards, this paper outlines four general categories, and supporting data, you should consider building into your own business case, including:

• Define the Objective & Value
• Analyze Costs, Benefits and Return on Investment
• Establish Criteria for Technology and Program Structure Requirements
• Secure Executive Sponsorship & Manage Change

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Fieldglass, Inc. provides the leading SaaS platform to procure and manage contingent workers, services such as statement of work projects, independent contractors, and specialized talent pools. The highly-configurable product suite provides transparency into the entire workforce and helps companies optimize program performance and make more strategic labor decisions. Backed by proven experience and the industry's largest customer base, Fieldglass helps Global 2000 firms realize greater efficiencies, control spend, improve quality and enforce compliance.