Vendor Management System (VMS)
A VMS is software used to manage the end-to-end lifecycle of contingent workers and staffing suppliers: requisitions, candidate submission, timekeeping, invoicing, and reporting. Common enterprise VMS platforms include SAP Fieldglass, Beeline, and Coupa Contingent Workforce.
VMS is the system of record for a contingent workforce program. It enforces approvals, rate cards, tenure limits, and supplier scorecards. VMS is usually operated in partnership with an MSP that handles the sourcing and compliance work the software cannot do on its own.
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