Staffing agencies' guide to Vendor Management Systems

Read our more recent agency guide here.

There are numerous software options out there for today's businesses, but one of the most powerful for staffing agencies is the vendor management system, or VMS. Selecting the right VMS can make all the difference for internal staffing agency processes, enabling the best job matches with available candidates while reducing manual work and contributing to operational cost savings.

First things first: What is VMS and why is it needed?

What exactly is a VMS and what can it offer for today's staffing professionals?

As this definition from Techopedia states, a VMS can streamline staff agency access to top talent, and support efficient recruitment and management of staffing operations. Such a system is able to eliminate certain time-consuming, manual work through powerful automation, and support staffing agencies as they seek out the most qualified candidates for their clients.

In essence, a VMS enables staffing agencies to become their own managed service provider through the granular and automated management of key resources and processes.

Top features of VMS

It's imperative that staffing firm decision-makers understand that not all VMS solutions are one in the same. There are certain critical features that staffing firms should look for in the systems they are considering, including:

• Smart candidate matching based on job specifications and applicant qualifications.
• Robust reporting that supports analytical KPIs like vendor performance, contractual obligations, number of requests, interviews, positions filled and more. 
• In-depth management for scheduling, credentials and documentation, invoicing and more.
• Automation to streamline key processes like data entry, invoicing and payroll.
• Ability to integrate with other key platforms to create a holistic and comprehensive management system.

Check out our blog to learn more about important features to seek out with a VMS.

Selecting the right VMS partner

In addition to analyzing the capabilities of the software itself, decision-makers should also consider the provider to ensure they're selecting the best partner to suit their needs.

A robust VMS provider will offer advanced software that can enable key benefits like cost savings and reduced complexity in critical staffing workflows, as well as improved efficiency across the board. In addition, the most beneficial partners will support vendor-neutral systems that include unbiased recommendations and rates dictated by current market data.

As the VMS marketplace grows, selecting the right software and supporting partner is crucial, and this is particularly true for staffing agencies with a keen focus on the healthcare sector.

To find out more about choosing a VMS partner, or how much your agency can save with the right solution, connect with the experts at BlueSky Medical Staffing Software today.