30 Jul 9 things to look for in a VMS so you never struggle with Integration tools again.
Bridging gaps with Flextrack’s Integration Studio
What are Integration tools in a VMS?
Integrations in a Vendor Management Systems (VMS) are designed to facilitate seamless connections and interactions between the VMS and the relevant systems in the customer’s technology stack. These integrations are meant to enable organizations to streamline processes, improve data accuracy, reduce manual effort, and enhance overall efficiency.
Unfortunately, integrations for most VMS continue to be a problem due to heavy coding requirements, incompatible legacy systems, a lack of standardization, and complexity that requires extensive custom development.
Common client integration challenges
- Lack of connection with key systems
- Missed deployment dates
- Project resource overspend
- Overreliance on IT support
- Lost talent opportunities
- Damaged relationships with vendors
- Long wait times Internal and external miscommunication
- Hiring teams going around the program
- Contracts remain incomplete
- Manual data entry and reporting
- Incomplete or incorrect data
- Lack of visibility into processes and projects
So, how do we integrate a VMS into your tech stack without these issues?
Integrations are one of the most powerful tools in any VMS arsenal, when using the right strategy and good tools; this means redefining the VMS and future-proofing its capabilities for technology that can withstand the rapid technological advancement we see today.
Flextrack’s Integration Studio is the most complete, on-platform integration tool available for VMS. It includes numerous API, data, business logic, and user interface integrations. We chose this Integration Studio to make integrations an opportunity for program improvement, not a problem to be avoided.
Take a look at the use cases below and see if any of these apply to you. How can you and your organization benefit from a more connectable VMS?
9 ways Integration Studio benefits YOU
USE CASE
BENEFIT
1
HR, CRM, and Procurement Integrations: You sync the VMS with HR systems to manage contractors and all categories of your contingent workforce. Additionally, you connect your VMS with Customer Relationship Management (CRM) systems and link it seamlessly to all procurement-related components, such as purchase orders, supplier catalogs, and invoicing.
HR Integrations: Onboarding, training, and management of the extended workforce are streamlined and simplified, improving tracking as well as talent retention.
CRM Integrations: Maintaining consistent vendor information, improving vendor relationship management, and enhancing vendor interactions.
Procurement Integrations: Keeping all supplier and talent information up to date, including Statements of Work (SOWs).
2
Data synchronization: You get consistent and accurate data across multiple systems in the fastest time, with the lowest ongoing resource requirements.
The right integrations give access to real-time, synchronized data, preventing data silos, reducing risk, as well as the need for manual data entry errors and time wasted.
3
Automated workflows and processes: You automate repetitive tasks and complex workflows.
Less time spent on things like vendor onboarding, contract management, or compliance checks, freeing the team to complete higher-value tasks and increase efficiency.
4
Document Management: You seamlessly integrate your document management systems to store, retrieve, and manage contracts and vendor documentation
Centralized storage of forms and information improves accessibility and security.
5
Direct Sourcing: You get to quickly connect any point solution you need, like direct sourcing, to optimize your program.
Quick development and deployment provide accuracy, speed, and immediate insights – all within the VMS.
6
Enhanced Reporting and Analytics: You can integrate data from multiple internal or external sources for a comprehensive, 360 program overview.
Comprehensive data integration leads to improved decision-making, faster insights, and better vendor and talent performance monitoring.
7
Improved communication and program adoption: Through a better user experience, your departments communicate and collaborate more effectively with each other and vendors.
All stakeholders are aligned, informed, and tracked, improving overall coordination and program adoption.
8
Compliance and Risk management: You incorporate all data compliance tools to monitor and ensure regulatory requirements and internal policies are being followed.
Mitigated risks and maintained compliance with respective laws and standards – before problems arise.
9
Reduced draw on IT resources: You reduce your need for IT support to develop or maintain integrations.
Flextrack’s API architecture enables reduced integration costs for customers by providing a comprehensive set of pre-built, standardized APIs that can be easily integrated into their existing systems.
How Integration Studio changes your VMS Game
Integration Studio is designed by workforce experts for workforce experts to improve your functionality, provide seamless interoperability between core systems, manage data transfers, and give your team the flexibility of tailored solutions that can meet their specific needs. By facilitating better data integrations and analysis, you and your team get enhanced data management and security.
