A Holistic Approach: 3 Reasons To Hire An MSP With A VMS Solution
When researching a Vendor Management Solution (VMS), do not focus on software alone. There is more to a successful VMS program than software functionality; for long-term, sustainable success, one proven approach is to find a Managed Service Provider that owns, operates, and maintains their own VMS technology. This holistic approach provides an all-in-one software and services solution with greater benefits for the organization.
What Is A Managed Service Provider?
A Managed Service Provider (MSP) is an organization that manages contractors and consultants for a client's function or department on an ongoing basis. Typical tasks include sourcing and managing staffing, managing third-party staffing firms and other services suppliers such as consultants, and administrating the process, policies & procedures, and the VMS.
VMS And MSP Under One Roof: Benefits Of A Dual Approach
There are significant benefits of partnering with a VMS provider who also delivers quality managed services:
- Better Service that is more tailored to the organization: When the MSP has control over its VMS, it is optimally positioned to map the client's processes to the technology. This dual approach allows for greater consistency across the organization, as well as a more tailored approach: because the MSP owns and operates their own VMS, they are able to configure and customize it to their client's unique needs.
- Faster Service: The combination of an MSP and VMS allows for quick responses to business requirements and technical issues, leaving the client free to focus on strategic priorities.
- Economical Service: An MSP who owns and operates their own VMS is able to do so at decreased costs, which can be passed along to the client; there's no redundant functions or duplicate personnel costs added to the bottom line.
Pre-empt Trouble: Start With A VMS MSP Combo
It is common for VMS users to realize they'd benefit from an MSP only after they implement the application. For example, an organization might realize the VMS doesn't operate by itself: the VMS alone can't screen and score candidates – a process that requires human review.
When this happens, adding managed services isn't necessarily easy. Not every VMS is developed by a Managed Service Provider. If the owner of a VMS wants to add a third party service provider, they may have to swap out their current software and the new program might be viewed as less than optimal, slowing its adoption. Though it is possible to add an MSP's services after the fact, it's much more successful and less resource-intensive when implementing a MSP/VMS combination in the first place.
When considering a Vendor Management System, it is crucial to think beyond the software. Partnering with a Managed Service Provider that supports the technology provides additional value to amplify the total solution.