VectorVMS, a leader in vendor management and contingent labor systems, announced today that it is formalizing its Shared Managed Services (SMS) branch in response to market needs for hybrid program management. SMS allows companies to directly manage their contingent workforce program while still receiving specialized services of their choosing.
With many organizations moving their programs in-house, a gap has been created in the industry where programs want to be independent but may not have all the resources they need to be fully on their own. According to data from Staffing Industry Analysts, in 2020 alone, 12% of organizations have moved in-house, 12% more plan to move to in-house in the near future, and 25% have been operating internally from the start.
This is where VectorVMS has stepped up to bridge the gap. While VectorVMS has informally supported in-house programs for years, the migration to company-managed programs has driven VectorVMS to operationalize its SMS offering to provide a solution for this specific segment of programs.
SMS offers a “middle tier” or hybrid program to enable an in-house program’s success. This is especially helpful to those that have seen growth in their contingent labor and require a more formal offering. “We have seen tremendous growth in our program since we started with VectorVMS in 2013,” says Lakshmi Naganathan, Sr Corporate Recruiter at Railinc. “Having the support of our SMS account manager has allowed us to meet our strategic goals while having an expert on-demand.”
While SMS has remained available to existing clients since its initial inception, VectorVMS elevated SMS into a true service offering that makes the custom service solution predictable and scalable for long-term success.
“We saw an opportunity to provide a valuable service to those companies that seek to maintain control over their contingent labor programs while moving in-house,” said Jay Grissom, VectorVMS’s VP of Account Management and Operations. “Through either the transition into a VMS or into an internally managed program, our SMS program managers alleviate some of the pressure of managing a growing part of their business internally.”
The SMS branding comes as more companies seek to incorporate their extended workforce into their total talent management strategy. SMS program managers support their clients with everything from day-to-day VMS management to strategic consulting and come armed with best-in-breed services and technology consulting. Each program augments client resources with a team of experienced program managers who provide operational support, white-glove service, and advice on industry best practices.