San Jose, California, October 27, 2023 —
In an exclusive interview, Sunil Bagai, CEO of Prosperix, and industry expert Jeff Nugent explore the ever-evolving role of the Vendor Management System (VMS) in contingent workforce management.
A contingent workforce is fundamental to the agile needs of today’s successful businesses. But gone are the days when contingent workforce management was solely cost-centric, predominantly influenced by procurement strategies in times of economic uncertainty. Today, a significant transformation is underway. The spotlight has shifted towards talent acquisition, onboarding, budgeting, and financial operations – with HR departments playing an increasingly pivotal role in shaping and managing this crucial workforce.
The key to maximizing value from your VMSs lies in the approach you adopt. Cost reduction and supplier consolidation are still baseline parts of the VMS value proposition, but modern VMSs offer so much more. If you aspire to enhance talent acquisition and cultivate an agile workforce, a forward-looking VMS is critical – as is establishing a distinct strategy to get the most from it.
The VMS landscape is in constant flux, with talent sources such as online platforms, independent recruiters, and direct sourcing entering the scene. To stay at the forefront of this evolving market, your VMS must be adaptable, leveraging the power of AI and automation to facilitate real-time, data-driven decision making.
Watch the full interview with Sunil Bagai on VMS Technology’s Future on the link above.