3 Ways You Can Use a VMS to Ensure Your Contingent Workforce Program Stays Compliant

There’s so much going on when managing your contingent workforce program—from sourcing to onboarding, invoicing, offboarding, and more besides.

As the demand for contingent labor rises, maintaining compliance while increasing your contingent headcount becomes a challenge, especially if you manage your program internally. Keeping track of all processes and the documentation required for maintaining compliance might seem like a daunting task without the right tools.

Relying on emails and spreadsheets is not an effective way to manage your contingent workforce. Having documentation and timesheets all over the place will only complicate the compliance and audit processes. That’s a risk no organization wants to take.

If mitigating risk in your program is a key objective, you must have technology in place to ensure compliance. Here are three ways you can use a Vendor Management System (VMS) to keep your program compliant:

1. Integrate With Your Other Technologies

Whether it’s background checks, payroll administration, or asset tracking, there’s a technology for that (and more). If you’re checking multiple platforms for the information you need, you’re at additional risk of missing an item.

According to Staffing Industry Analysts, organizations are leaning towards using more software integrations within the next year. Companies are in search of solutions that can avoid the risks inherent in having documentation or information in different places.

Maintaining a single source of record throughout the entire lifecycle of every contingent worker helps you ensure program compliance. What’s more, having all the data centralized gives you wider visibility of program status, and makes it possible to foresee issues or find insights you can put into action to prevent risks.

Integrating your technologies with a VMS allows you to rely on just one location to find all of your contingent workforce compliance needs.

2. Capture Only Necessary Information

For full-time workers, employers will usually have to handle personal identifying information such as social security numbers and addresses. However, with contingent workers, this personal information is known by the vendor rather than your company. When it comes to onboarding requirements like background checks and certifications, all you really need to know is whether or not an employee is in compliance. Everything else is unnecessary—a VMS makes it easy to capture only what you need.

3. Automate Repetitive Processes

With integrations collecting all of your program information in one place, it becomes possible to automate some of your repetitive tasks. Tracking important dates throughout an engagement can be as simple as setting up notifications for upcoming deadlines or certificate expiration dates. If there are certain reports you run regularly, set those to run automatically at specific intervals. Using a VMS helps you streamline every aspect of your contingent workforce program.

Getting the Right Solution for Your Needs

Nowadays, it seems unrealistic to manage an extended workforce program without technology. VectorVMS’s solution not only helps to mitigate compliance risks, it also boosts the program’s efficiency in many different aspects—from choosing the right candidate to storing documentation. It’s definitely a must for teams that manage their program internally,.

Better still, you can adapt the solution to your needs depending on how much support your program requires. Whether you only need the technology or you could benefit from the advice of experts, VectorVMS has you covered.

Maintaining compliance while running your program doesn’t have to be a complicated process if you get the right solution to fit your needs!

Want more tips about compliance in contingent workforce programs? Download our ebook ‘4 Ways to Ensure Your Internally-Managed Contingent Workforce Program Is Compliant’ to gain greater insight into how to ensure a successful program. You can also get in touch with our experts. We’d love to help!