Cost savings

Cost savings can be a main driver for establishing a workforce management program, and they can be achieved with the help and greater visibility provided by our VMS tool. With increased program efficiencies, the results lead to direct and indirect cost savings that will contribute to long term goals. Examples of direct cost savings are:

Market forces

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%.

Digitalising processes

Having a seamless and effective process enabled by the digitalisation of your procure-to-pay cycle will increase efficiencies throughout the company, drastically optimising, for example, the work done by your accounts payable, ultimately resulting in further cost savings.

Benchmarking

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, simplifying your sourcing and negotiation processes.

Risk reduction

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 program.

Using the correct agreements

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.