Smartly manage, maintain and optimize complex contingent workforce programs and Talent Acquisition programs
What happens if your sourcing events are not managed well?
- Your business may miss out on the best suitable vendors
- Your overall productivity and business efficiency may suffer on account of the very long sourcing cycle time
- Your business may witness a downfall in cost savings
Most organizations realize the importance of vendor management, but do not develop a disciplined approach to managing vendors. Instead, they spread vendor management responsibilities and activities throughout their organizations—if they actually manage it at all. (Gartner)
Simplify sourcing and build successful partnerships
Alchemus VMS Software Features
Requisition Management
Requisition Processing, a part of Alchemus suite helps organizations drive you to engage with right vendors at right price and through the right method, thus establishing a well-defined sourcing process and an effective safeguard against maverick spending. It streamlines the process of procuring and managing flexible labour. We offer functionality to search, identify, track and manage workforce with ease.
- You can decide which vendors to work with based on their performance
- Centralized access to your network of vendors that can successfully vet and identify quality candidates
- The customizable decision wizard guide manages to select the right type of resource
- KPIs and SLAs help demonstrate quality in the talent sourced by your program
Manage Work Orders
Organizations often engage in project-based work that is billed by deliverables, milestones, schedules or fees such as Statement of Work (SOW) projects, consultants, offshore or outsourced vendor programs.
Depending on type of services required , Work orders can be for contingent labour on a fixed price or by a milestone or deliverable, the hours can still be tracked and billed. Alchemus VMS fully supports labour-based indirect spend using any of the following payment schemes:
- Milestone-based payments
- Deliverables-based payments
- Unit-based payments
- Time-and-Expense based deliverables
- Progress payments
- Fixed fee
- Single fee
- Recurring fee
Time and Expense Approvals
Automated time and expenditure approval accelerates time-to-pay and eliminates the potential for duplicate billing.
Invoicing
Alchemus VMS uses its dynamic software features for Vendor Portal to extend the efficiency gains of the payment process, enabling vendors to transmit electronic invoices and also automating the receiving and invoice matching process.
Contract Management
Alchemus Contract Management module is integral with the ability to create POs from staffing services. System allows you to create standard or blanket orders based on the requisitions submitted.
Alchemus VMS automation frees up your time to spend on strategic decision-making and optimization, rather than on day-to-day tactical tasks helping you leverage your contingent workforce for maximum competitive advantage
Alchemus VMS solution helps you manage vendor relationships and track their performance. It allows you to keep track of contracts details such as Terms and Conditions, billing frequencies, overtime and expense rules for each vendor that agrees to do business with organization. Even if you’re a small business, chances are services from a multitude of vendors. By assessing vendor risk you can plan to mitigate risk and select the best suitable in terms of quality and costs.
As vendors respond to the jobs, you can enter their responses into their “scorecard.” The responses can then be viewed “by item” (to see which vendor performs best for a given job) or “by vendor”, to easily see who’s the highest-scoring and quality candidates.
Alchemus allows you to be proactive in contracts renewals and helps streamline your business process. Approvals and workflow are customizable depending from organization to organization.
Benefits of Alchemus VMS Solution:
Alchemus improves the processes of engaging, managing, paying and reporting on the entire spectrum of contingent workers and services throughout the procurement lifecycle. Our VMS technology delivers a wide variety of efficiencies including:
- End-to-end visibility into your global contingent workforce
- Total transparency, simple controls and one-click governance reporting increase governance and probity, and reduce risk
- Drives savings in decentralised procurement by leveraging established discounts and healthy competition
- Agile supply chain with minimal risks of any kind
- Better collaboration and buy-in from users and quality controllers
- Comprehensive reporting to monitor program operations and maintain compliance
- Reduced program costs through accelerated processes, budgetary controls, visibility into real-time market rates and more
- Improved decision-making through deep insight into supplier performance metrics, including: spend, headcount, supplier quality, time-to-fill, compliance, supplier specialties and more
- Easy-to-use administrative and upload tools let the program office spend more time focusing on strategic initiatives
- Reduce the Time to Hire
- Carefully tested and validated best-practice VMS configurations help streamline supplier management and optimize programs