19 Apr AI and Advanced Analytics in VMS: What’s the buzz?
Everyone is talking about Generative AI and the changes this technology brings. The Vendor Management System (VMS) space is no different. Those managing the contingent workforce should understand how these exciting new tools will help them reduce costs and risks.
Why is AI so important in analytics now?
Advanced Analytics makes workforce management and sourcing easier – these tools leverage Generative AI to alleviate manual processes, analyze data, and help with planning, reporting, and predictions by identifying emerging patterns and trends. Many legacy Vendor Management Systems are not built to work with or support these rapid changes. As AI continues to develop and evolve, a VMS that is built on a platform like Salesforce effectively ensures that users benefit from ongoing investment and advancement into innovation.
Here are 3 big benefits of having access to Advanced Analytics and Generative AI:
1. Easy access to data-driven insights
Analytics tools offer real-time extended workforce visibility and insights. That means you get prescriptive and predictive insights into all the data you have as well as the flexibility to utilize the technology to alert you to and maneuver you through upcoming changes you might otherwise miss.
2. Scalable and adaptable to different environments
Manual quarterly reviews and reporting are a thing of the past. With a drag-and-drop Flow Builder tool that’s powered by AI, you have the freedom to build and scale projects yourself. These tailored workflows require no traditional software development skills and result in streamlined tasks, documents, and data with no change requests required.
3. A tailored user experience perfect for improved adoption and speed
With out-of-the-box reporting, you have direct access to data and a comprehensive understanding of information that can be collected in hours, not weeks. You no longer need ancillary reporting platforms, which results in lowered integration spend and project overspend.
