VENDOR MANAGEMENT SYSTEM (VMS)

FORUM’S web based “procurement to payment” program is designed to reduce and control all costs associated with temporary, contract or per diem staffing. It is a byproduct of our more than three decades in the contingent staffing field. The FORUM “Solution” facilitates the entire temporary hiring process from electronic transmission of staffing requirements, to electronic timekeeping, consolidated invoicing with full support documentation and customized management reporting reflecting temporary usage in any format requested. In short, this program represents the most comprehensive and cost effective means to control this highly transactional area.

The program accommodates any area of contingent employment in any location. Our clients select the best service providers in their respective locations (Preferred Vendors) while our program organizes and controls every other aspect of temporary activity. Our clients enjoy real time ratings of their selected vendors and the temporaries they provide, and have complete access to outstanding job orders, assignments in progress and completed assignments. These are but a few of the many features designed to provide you with the means to manage your expenditures for temporary staffing. As revenues for our system are secured from Preferred Vendors, this user friendly and easy to implement program is offered on a no cost basis to our clients.

BENEFITS OF FORUM’S VENDOR MANAGEMENT SYSTEM

• Access to a fully automated and secure web based procurement system which records and documents every action taken.
• Fully customized management reporting reflecting all temporary usage in any format requested.
• The flexibility to select “Preferred Vendors” on a location-by-location basis, while centrally controlling pricing, terms, conversion rates and guarantees.
• Consolidation of all temporary staffing invoices into one electronically transmitted package with full supporting documentation. This will remove all invoices from your system and eliminate the requirement to have various levels of payment approvals. As all payments flow through FORUM, disbursements to individual vendors are also eliminated.
• The consolidation of contract spending among fewer vendors allowing you to capitalize on volume pricing.
• Generation of detailed job specifications to facilitate each job requisition eliminating miscommunication and overcharges for skills not required.
• The provision of electronic timekeeping capability which increases security, expedites record keeping and accurately calculates total hours.
• A totally secure tracking system, which prohibits the creation of multiple timesheets or submissions of timesheets after the completion of an assignment.
• Real time access to all “Open” orders, “Work in Progress” and/or “Completed” orders.
• Real time access to individual vendors and candidate performance ratings.

SUMMARY

As the utilization of contingent or temporary employees increases, it is critical to properly manage and control this highly detailed area. Significant cost reductions have been achieved with each implementation of the FORUM Solution. This, coupled with the program’s ability to closely monitor vendor performance, pricing and length of assignments, combine to provide you with all of the tools necessary to optimize this staffing alternative.