Spreadsheets might seem and look easier or may be the easiest thing. But is that easy to manage when it comes to maintaining the documents, data and details of your contingent staff?
You will get your answer in the next five points which tells you the difference between using a Spreadsheet and a Vendor Management System. And by the end of the article you would know why a VMS is better than Spreadsheets.
Spreadsheets are to be filled out in one go and one at a time. But keeping that spreadsheet up-to-date is a heroic task, especially if your company is connected to various vendors. Maintaining a spreadsheet and keeping track of each and every detail is tough, in general. And you would have trouble maintaining your consciousness while doing so.
Working on a small database program will not work especially when you are connected with multiple vendors and when you need to update each vendor’s details. Additionally, these can’t be sustained over a long period of time. Not only this, if you forget to save your work then your entire work goes waste and so does your time. It is better to use a Recruitment Management Software as it is a cloud-based application and will automatically save your data. In addition to this, it can be accessed from anywhere.
Suppose that you have multiple contracts with a single vendor, then the number of products or services are most likely to rise. In fact, each contract could have more people associated with them. It could also be possible that you would need to utilize a vendor for more than just one product or one service.
Again, you would have to manually monitor each contract, product or service and then update them in the spreadsheet. Hence, this means that the contracts would be a part of outgoing monitoring and each product or service would have to be assessed and noted manually. Whereas on a Vendor Management System, like FlentisPRO, you can easily locate your files and update them without much hassle.
When you have multiple vendors and a number of contracts with a single vendor, you ought to have several documents, data, and information. To store all this information, data, and other important documents, you need a good amount of storage. Don’t forget that you would be needing storage that is accessible to the important people and not just to everyone. So you need security as well.
If you somehow manage to maintain the spreadsheets and up-to-date it as well, you will not be able to secure it or store it just anywhere. And since this information is confidential, you can’t just store it by saving it or mailing it. Your contingent workforce could be around in different states or even in a different country during this pandemic. So just e-mailing it repetitively and being unable to access it by other teammates, is a big no-no for Spreadsheets. The documents could be over-written, can disappear, misfiled, moved or deleted by accident.
It is possible to do all the above-mentioned things? It might be if you are a robot or just a god-gifted person. But would you be able to track the important dates or keep in mind the critical dates like the renewal of contract or the end of a contract? What if you miss out on the problem resolution time or a termination timeline if you are managing a spreadsheet?
It is nearly impossible to do so without a VMS Portal. You would need reminders for critical dates, notifications for certain things, and to keep track of your contracts.
Spreadsheets are good to go for small work like creating a quick report, calculating or creating some invoice, etc. But having a Workforce Management System means that you have all your data stored in one place. This data is accessible to only those people you choose to give access to and can be accessed from anywhere. Your data will be updated simultaneously and the teammates would be able to view the recent updated document without losing the information or misfiling it. Having a VMS has more benefits like automated invoices, recruitment applicant tracking system, centralized view of the performances, smooth performance management, better vendor selection, strengthen supplier relationships, negotiate rates and get better value as well as get top talent for your business.
Now do you agree that having a Vendor Management System is better than working on Spreadsheet? If you still don’t agree, then you should try a demo with us. It could change your mind for sure. To take a demo, drop in a text saying, “Hi, Flentis!” at our e-mail address firstname.lastname@example.org and we will reach out to you. We’d be happy to reach out to you!
We would be happy to give you a demonstration!