Cost savings can be a main driver for establishing a workforce management programme. They can be achieved by the workforce visibility provided by our VMS tool. With increased programme efficiencies, the results lead to direct and indirect cost savings that will contribute to long term goals. Examples of direct cost savings are:
By sending the job requisition to a group of suppliers or even the entire open market, an organisation can increase their buying power by having access to more competitive rates using our VMS. This can realise cost savings of 8 up to 15%.
Having a seamless and effective process enabled by the digitalisation of your procure-to-pay cycle will increase efficiencies throughout the company. You can drastically optimise e.g. the work done by your accounts payable, ultimately resulting in further cost savings.
Building your own database makes it possible to compare rates. Our VMS will help you combine your rate comparison with the complete visibility of what was paid for comparable positions in the past and current market rates. You can also simplify your sourcing strategy and enter into well informed negotiation processes.
By correctly tracking and managing all your external workers, you will be able to ensure and monitor compliance of internal and external rules, consequently reducing risks and preventing the loss of income related to the breach of legislation (i.e.: fines) throughout the lifecycle of your programme.
Another cost reduction can be realised by centralising all the supplier documentation in the VMS, including all rate agreements and the various factors affecting their calculation. The platform can be used to flag when a temporary worker’s rate is due to be reviewed and the system can be configured to apply rate increments (for example AWR related) that can be actioned with the click of a button, even retroactively.