The global contingent workforce management market is expected to reach $465.2 billion by 2031. Utilizing the right vendor management system (VMS) can make a meaningful difference in the effectiveness of your contingent workforce program. As technology within the industry has continued to evolve in recent years, today’s VMS platforms are integrated with functionalities that can remove many pain points and complexities from overall talent management. Not only can VMS systems facilitate critical applicant tracking, hiring, and onboarding efforts, but they can also support timekeeping, compliance, and analytics-driven decision-making.

Our team at Broadleaf understands that selecting the right VMS platform is critical to supporting your labor needs and bringing value to your workforce. From system flexibility and compliance management to analytics and integrations with existing platforms, several factors will play into your final decision.

To help educate your business on selecting the proper VMS for your workforce needs, we developed a list of the top third-party platforms on the market. Here are our findings in alphabetical order:

Beeline

The Global Workforce Intelligence Platform from Beeline is an efficient and effective way to manage your contingent workforce programs. Featuring a well-organized task-driven dashboard, utilization of business intelligence software, and ability to integrate with over 100 technology partners, Beeline is well-positioned as a top VMS provider. Plus, your organization will be well-positioned to drive efficient workflow with its top-rated user experience—that’s simple to navigate with a well-defined support model—and rapid deployment capabilities. Learn more at beeline.com.

Coupa

With 300+ standard and analytics reports, Coupa’s contingent workforce platform enables companies to increase visibility, compliance, and control over their contingent and SOW resources. Users can load onboarding requirements to automate—and ultimately expedite—the candidate onboarding process. Coupa’s AI-powered candidate ranking feature can help you make smarter and more informed hiring decisions to enhance your workforce. Discover more at coupa.com.

SAP Fieldglass

As companies scale up their workforces worldwide, they need a contingent workforce management system to keep pace with their needs. SAP Fieldglass’s VMS platform can help businesses to initiate, engage, manage, and complete their contingent workforces through its CWM 360-degree solution while incorporating flexible workflows to drive oversight and compliance. Leverage machine learning tools to identify candidates, ensure full compliance with local labor laws, and save on external expenditures by cutting down on rogue and maverick spend. Learn more at fieldglass.com.

Simplify VMS

Due to the rising prevalence of total talent management VMS solutions, it should be no surprise to see Simplify VMS as a leader in contingent talent management. With a flexible and easy-to-deploy platform—as reflected in their name—and a seamless customer experience, Simplify VMS enables companies to manage all aspects of their workforce. Organizations can reduce time-to-hire in their recruiting processes, implement timesheet and expense management modules into their programs, and benefit from automated sign-off and payment processing workflows. Plus, its resume comparison feature can help your organization connect with the best talent on the market. Discover more at simplifyvms.com.

VectorVMS

VectorVMS’s vendor management system enables companies to take total control over their contingent workforces and close talent gaps to increase business agility. With easy navigation and a simple and direct dashboard, users can automate and streamline processes while accessing critical data that can optimize their workforce. By eliminating uncontrolled spend, maintaining compliance with local rules and regulations, enhancing candidate quality, and improving efficiencies with HR and procurement processes, the VectorVMS tool can create a total talent management ecosystem for your organization. Read more at vectorvms.com.

Workday VNDLY

With the acquisition by Workday, VNDLY has a strong, continued commitment to developing and evolving its VMS platform. One of the most modern cloud-based VMS technologies on the market today, Workday VNDLY’s system makes the talent management process easy and efficient for contingent workers and suppliers. Companies can configure pre-made job templates, evaluate talent pools, establish pre-onboarding compliance checklists, and generate standard or custom reports. Workday VNDLY’s easy-to-use yet robust VMS platform can be configured to align with changing program needs. Plus, valuable API integrations like ServiceNow and Okta enable customers to reap the benefits of a fully-integrated technology ecosystem that efficiently moves data among departments. Learn more at workday.com.

Interested in working with the Broadleaf team to select a best-fit vendor management system for your organization? Contact us today to learn how we can evaluate all VMS options with your HR and procurement teams.