As part of our ongoing series talking to procurement technology companies on what they see as the main focus for procurement in 2016, we reached out to vendor management systems (VMS) provider IQNavigator. Brian Hoffmeyer, vice president of product marketing for IQN, and Victor Chayet, vice president of marketing and communications, talked about how procurement organizations will increasingly demand more from their VMS solutions to better engage with the non-employee workforce.
IQN will focus on continuing to tackle the complexities of working with freelancers and independent contractors for its clients this year, Hoffmeyer said. This workforce is “mission critical” for businesses, he said, but companies are still looking for ways to control risks and costs associated with engaging with contingent workers.
Predictive analytics will become an increasingly important part of VMS solutions, providing even greater insights on business needs and the non-employee workers. IQN is focusing on adding predictive analytics tools to its solution this year that will help its clients make better decisions, Hoffmeyer said.
For instance, analytics within the VMS solution can identify when a company needs to begin advertising for an open contract position or can help identifying the right candidate for a specific job. This sort of technology is “elevating the procurement professional,” Chayet said, making it more possible for procurement organizations to provide strategic counsel on business decisions.
Overall, VMS will need to become easier to use and be as intuitive as possible for procurement to properly engage with the growing independent workforce.
VMS Part of the ‘Full Procurement Process’
Chayet also identified another trend this year in procurement: VMS will be used more so by procurement and less by staffing professionals. Typically, he said, you have people with some staffing skills or experience using VMS, but the solution to help manage and engage with non-employee workers will largely be a procurement function.
“It’s grown to be an important part of the full procurement process,” Chayet said.