Quadrant Knowledge Solutions defines Vendor Management Systems as “software that helps organizations automate and streamline processes for searching, hiring, engaging, invoicing and payment, and managing contingent or contractual workforce and associated service providers. The software manages end-to-end activities for contingent workforce management, including hiring processes, onboarding and offboarding processes, workflow and requisition management, candidate management, contract management, payroll, billing and invoice, performance tracking, spend tracking, compliance management, and others.”
Quadrant Knowledge Solutions’ Vendor Management System market research includes a detailed global market analysis of major vendors. The research comprises vendors’ product features and functionalities and competitive differentiating factors. The research provides competitive landscape and vendor analysis to enable technology vendors to enhance their understanding of the market and implement a growth-oriented technical roadmap.
The research includes detailed competition analysis and vendor evaluation with the proprietary SPARK Matrix analysis. The SPARK Matrix includes ranking and positioning of the leading Vendor Management System vendors with a global impact, including- 3 Story Software, B4Health, Beeline, Conexis, Connecting-Expertise, Directskills, ELEVATE, Eqip, Medefis, Nétive, Pixid, PRO Unlimited, Ramco Systems, SAP, ShiftWise, TalentNow, VectorVMS, VNDLY, and Worksuite.
According to Pruthvi Raj V, Analyst at Quadrant Knowledge Solutions, “A Vendor Management System is software that helps organizations to automate end-to-end global contingent staffing processes, including sourcing, sending job requests, candidate management, purchase orders, contract management, timesheet management, invoicing, billing, & payment, reporting, and workforce management. It helps organizations rate, select, prioritize, and manage suppliers based on job role requirements. Vendors are leveraging emerging technologies such as AI/ML/chatbots to enhance the hiring & retaining of potential candidates, predictive analytics, and enhance UI. Vendors are providing multi-lingual and multi-currency support to help clients expand globally by adhering to regional & global compliances. Additionally, vendors are also providing/have provided mobile application support for hiring managers, workers, and suppliers to improve user experience.”
2022 Vendor Management System SPARK Matrix
Source: Quadrant Knowledge Solutions
Table of Contents
Executive Overview
Market Dynamics and Overview
- Market Definition
- Market Overview
- Key VMS capabilities
Competition Landscape and Analysis
- Competitive Overview and Analysis
- Factors and Technology Differentiators
SPARK Matrix™: Vendor Management System
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