www.vndly.com Open in urlscan Pro
44.239.48.190  Public Scan

Form analysis
0 forms found in the DOM

Text Content

WORKDAY + VNDLY WEBINAR SERIES PART 2: REPLAY NOW.



 * Solutions
   * Extended Workforce Management
   * Statement of Work
   * Worker Profile Management
 * Why VNDLY
   * Differentiating VNDLY
   * Implementing VNDLY
   * Integrating VNDLY
   * Security and Compliance
 * Who We Serve
   * 
   * MSPs
   * Vendors
 * 
 * Departments
 * Procurement
 * Human Resources
 * IT
 * Finance
 * Legal
 * 
 * Industries
 * Healthcare
 * Manufacturing
 * Finance
 * Energy
 * Technology
 * Professional Services
 * Higher Education

About Us News and Insights Careers Contact Us
Request a demo Support
Request a demo Support
< Back

NEWS AND INSIGHTS


6 CHARACTERISTICS OF A TRULY INNOVATIVE VMS

Human ResourcesTechnology Innovation
Oct 26, 2022
Author: Chuck Mobley
Twitter
LinkedIn
Share

Whether you’re assessing your current VMS solution or in the market for a new
product, here are six steps your provider should be taking in order to create
innovation that has true impact.



Author: Chuck Mobley

As markets continuously change and throw competing priorities at business
leaders, it becomes increasingly important to build your business around core
principles that enable innovation and agility—and to partner with organizations
that can do the same. Ensuring your vendor management system (VMS) provider has
the ability to innovate and keep up with the latest technology developments is
key to your continued business process improvement and should be a vital part of
your evaluation discussions.

But what does it look like for a VMS to be truly innovative? Whether you’re
assessing your current VMS solution or in the market for a new product, here are
six steps your provider should be taking in order to create innovation that has
true impact.

Author: Chuck Mobley

--------------------------------------------------------------------------------

Human Resources

Technology Innovation


1. PRIORITIZE CORE FUNCTIONALITIES

The ultimate goal of any VMS solution, whether innovative or traditional, is
simple: to make the management of your extended workers easier. As such, many of
the important functions of a VMS are focused on the tracking and payment of
contingent workers. Core functionalities typically include:

 * Invoicing
 * Worker Tracking
 * Hiring
 * Onboarding/Offboarding
 * Integration

Innovations in these areas may be simple, but they can make a big difference in
your day-to-day operations—think decreasing time-to-hire or streamlining
integrations so they’re click-to-configure. Something as simple as being able to
add a custom field without submitting a support ticket can make a significant
difference when your team needs to adjust their system.

But these important features are frequently—and unwisely—passed over in favor of
flashy new updates. More often than not, rethinking and innovating on the core
functionality can provide greater impact, equipping your team with the tools
they need to perform more effectively and efficiently.


NOT SURE HOW TO EVALUATE A VMS FOR THE MODERN WORKFORCE?

--------------------------------------------------------------------------------

Here are the questions to ask:

 1. How easy will it be for my team to complete their daily tasks, such as
    invoicing or paying extended workers?
 2. What visibility will I have into who is working for me and where they’re
    located?
 3. How will the system streamline our hiring process?
 4. What support do you provide for provisioning/ deprovisioning workers?
 5. What specific tools in the platform will help my team complete these tasks?
 6. Will integrating with current systems require my team to provide development
    support?
 7. How are you using automation, AI, and machine learning to improve industry
    standard workflows?

--------------------------------------------------------------------------------

From the outside, these vendor management systems give the illusion of
stability. They appear to work as intended, but what’s missing is the ability to
innovate and scale the solution in line with changing market and customer needs.


2. EMBRACE THE CLOUD

The adoption of cloud technology is on the rise. By 2025, Gartner analysts say
that more than 85% of organizations will embrace a cloud-first principle and
will not be able to fully execute their digital strategies without the use of
cloud-native architectures and technologies.

In the VMS industry, cloud technology can have a significant impact on the
ability of providers to deploy new functionality at an accelerated pace. It also
provides a host of other benefits, including:

 * Process optimization and efficiency gains through the implementation of
   automated, repeatable processes
 * Reduced costs due to the removal of on-premise technology that was previously
   the norm
 * The automation of software updates to ensure you’re always benefiting from
   the latest releases
 * Flexibility and mobility, as cloud applications can be accessed on any device
   with an internet connection, from anywhere

If a business wants to optimize the management of its contingent workforce via
technology, a cloud-first VMS solution is a must.


3. REJECT OUTDATED ARCHITECTURE

The majority of VMS solutions on the market today were built in the early or
late 90s. These providers now face increased issues related to technical debt
and legacy code when compared with some of the newer alternatives. Dated vendor
management systems become unfit for purpose, are increasingly open to security
risks, and lack the performance and depth of core functionality that should be
expected.

From the outside, these vendor management systems give the illusion of
stability. They appear to work as intended, but what’s missing is the ability to
innovate and scale the solution in line with changing market and customer needs.
This is the result of a few factors, with legacy code being a major innovation
blocker. As time moves on, the code that was used during the initial build
becomes increasingly difficult to understand and even more difficult to change.
This makes it near impossible to improve on current functionality, as developers
fear breaking the whole system if they make any changes. Workarounds and
unsustainable practices become the norm in these cases.

Often, the result is that your team has to rely on submitting support tickets to
make necessary changes—significantly slowing down your workflow. Innovative VMS
solutions are moving toward systems which end users can configure and
reconfigure themselves without the need to contact the VMS provider. Putting the
power into the hands of those who use the VMS the most also ensures that the
system will actively support you, rather than work against your efforts.

And don’t discount the UX/UI advantages of newer software solutions. Having a
tool that’s easy to learn and navigate is absolutely essential to user adoption.
Your team is more likely to use a tool which looks nice and doesn’t add time to
their workflow.


4. ENSURE TECHNOLOGY ECOSYSTEM ALIGNMENT

To effectively manage the extended workforce, organizations often rely on data
housed by multiple systems across several teams. As such, a VMS needs to be able
to quickly and seamlessly connect with other technologies within a business’s
ecosystem in order to create true impact. Integrations are key in this area.
Being able to quickly and easily integrate with a HCM, single-sign-on, and
financial software is the first step towards better visibility across your
systems.

Working integrations offer many business benefits—such as process
standardization and optimization, reduced manual effort, reduced risk of data
security breaches, increased data accuracy, as well as an improved and
consistent employee experience. To assess a VMS’s integration capabilities,
there are two terms you should be familiar with: application programming
interface and certified integration.

Application programming interface (API)
To put it simply, an API is the mechanism that allows the movement of data
between systems. Sets of APIs are made available in order to call defined data
points between systems at a set frequency.

When evaluating vendors, it’s important to discuss their API framework, the
system(s) you need to connect to, and the data you need to move between those
systems in order to find if they will be able to cater to your requirements. You
should assess the level of integration that exists today, as well as any future
roadmap capabilities that may be in place, before you go-live.

Certified integration
In some instances, you may find that the supplier has a certified integration
already in place. A certified integration ensures a number of important
elements, including:

 * Quality: It recognizes the quality and stability of the integration, assuring
   that rigorous testing took place to gain that certification.
 * Collaboration: It highlights the close partnership between both system
   vendors, ensuring they are aligned when it comes to delivering on joint
   innovations.
 * Continuous improvement: It means there is open communication between these
   providers, with both continually focused on addressing any issues and working
   together to improve on integration models.


5. BUILD POWERFUL PARTNERSHIPS

The acquisition of VMS providers by larger organizations, such as the
acquisition of VNDLY by Workday, is increasingly common. When done correctly,
these partnerships can build on the area of certification and strengthen it
beyond what other providers, certified or not, will be able to offer. 

Take VNDLY, for instance. Before being acquired, we were already a Workday
Access Partner with a certified integration. Post-acquisition, we are now
embedded in Workday—and this commitment of Workday is vital to both our success.
Continued innovation and integration across multiple product areas is an even
greater focus, fueled by access to areas of Workday that other providers simply
don’t have. As a result, you can be assured that developing product strategies
that deliver actual customer value—as well as working integrations—are top of
mind.


6. INVEST IN RESEARCH AND DEVELOPMENT (R&D)

If a VMS provider is truly invested in continuous innovation, there will
undoubtedly be a focus on R&D. How much revenue is being put back in R&D will
give you a clear picture of prioritization.

Don’t forget to look at this in terms of the company revenue and not just
percentage. It goes without saying that there will be a difference in the amount
that can be spent on R&D for a company with revenue in the millions versus an
organization who has revenue in the billions. Again, this is where acquisition
by larger companies can be hugely beneficial to continuous innovation in
companies who were once in a lower revenue bracket. Using VNDLY as an example,
the investment in R&D—as well as the supporting resources now in place due to
being part of Workday—increases the speed of functionality deployment and
accelerates innovation when compared to pre-acquisition times.


INNOVATING BEYOND THE CORE

While the core functionality of a VMS solution is the most important place to
look for innovation, that doesn’t mean that new features can’t be valuable. When
new features are coming not at the expense of core functionality, but rather to
further support them or eliminate legacy processes, then innovating beyond the
core can be just as important as improving core functionality. The key is to
take into account whether features or workflows are being added with intention,
rather than as the result of a trend.


CONTACT US

If you’d like to learn how VNDLY, a Workday company, is supporting global
organizations via continuous innovation and the core VMS functionality, get in
touch today.

VNDLY

culture

future of work

product development

vndly news








TAGS

Vendor Management SystemVMSVNDLY

MORE READING

6 Ways VNDLY, a Workday company, Supports Your Global Workforce
November 08, 2022
Redefining the Core Invoicing Capabilities of Vendor Management So...
October 11, 2022

EXPLORE

More news and insights in similar topics

6 Ways VNDLY, a Workday compa...
Redefining the Core Invoicing...


LET US SHOW YOU WHY WE REALLY ARE BETTER.

Request a demo

 * Solutions
   * Extended Workforce Management
   * Statement of Work
   * Worker Profile Management
 * Why VNDLY
   * Differentiating VNDLY
   * Implementing VNDLY
   * Integrating VNDLY
   * Security and Compliance
 * Who We Serve
   * 
   * MSPs
   * Vendors
 * 
 * Departments
 * Procurement
 * Human Resources
 * IT
 * Finance
 * Legal
 * 
 * Industries
 * Healthcare
 * Manufacturing
 * Finance
 * Energy
 * Technology
 * Professional Services
 * Higher Education

About Us News and Insights Careers Contact Us
Request a demo Support

CONNECT WITH US

LinkedIn

Twitter

CONTACT INFORMATION

(513) 572-2500

sales@vndly.com

© 2022 VNDLY, a Workday company. All rights reserved.

Sitemap | Terms of Use | Privacy | Support
Cookie-Einstellungen


<-- TrustArc Event Generation -->