04 Apr Are you equipped to navigate workforce decision-making, forecasting, and planning?
Emerging and changing technologies such as AI are continuously creating new changes and challenges for businesses looking to find the best talent. The right tools can make a significant difference between a successful and efficient workforce strategy and falling behind competitors. These tools can assist in workforce decision-making, planning, and predicting future trends. Workforce leaders face many challenges that siphon resources, like fragmented systems, manual processes, and difficulty accessing good data.
What happens when your VMS isn’t powerful enough to overcome these challenges?
Many Vendor Management Systems promise fast implementation – it’s the standard (almost expected) promise. The issues of onboarding a new VMS and realizing it cannot deliver on this can have dire consequences for leadership and management teams. Demanding speed from a tool that cannot provide it often manifests as inefficiencies and missed opportunities, putting even more pressure on fixing the issue and consequently needing it done even more quickly – a loop of failure that can become a trap for clients.
The struggle to locate, store, extract, and utilize real-time data for analysis, compounded by inadequate reporting tools, impedes a manager’s ability to gain timely insights essential for informed decision-making. The absence of AI-driven insights and automation compounds these issues. All this results in compromised supplier relations, inaccuracies in budgeting and fiscal strategies, limited talent visibility, unmet compliance requirements, and incomplete or dirty data that opens the doors for even more issues.
Here are 5 ways Flextrack sets you up for success in Workforce Decision-Making, planning your strategy, and peering further into the contingent workforce horizon for superior forecasting.
1. On-platform reporting powered by Tableau
Tableau is a best-in-class, on-platform business intelligence tool that lets organizations access critical business insights and provides accurate, real-time data that optimizes decision-making and reporting. Through Salesforce’s investments in its ecosystem, Flextrack can offer the best in user experience, security, and platform stability.
2. Report Builder
The Report Builder tool allows users to generate reports using any field quickly and easily. Using real-time data means no more delays while waiting for a custom report. And drag-and-drop functions create a self-service environment that anyone can control and use.
3. Open architecture
Flextrack’s open architecture and database connectors provide visibility into outside data, future-proofing your organization. From sourcing talent, planning resources, tracking budgets, and optimizing spend, users get a singular view of the entire talent ecosystem on an infinitely extensible platform.
4. Einstein AI
Forecast trends, make predictions, and diagnose problems to optimize the management of your contingent labor program with Einstein AI. This tool utilizes prescriptive and predictive analytics, allowing users to easily build, train, and deploy custom AI solutions. Einstein empowers program managers to tailor AI tools to their specific needs and challenges within their contingent labor program.
5. Automated supplier performance
Automated supplier performance allows organizations to hold suppliers accountable to metrics with no preparatory reporting action from the project team. You can expect to manage and optimize your supplier base proactively, correcting problems in real-time and preventing problems before they occur, avoiding time-consuming (often still manual) reviews that can delay corrective action for months.
Flextrack stands apart as the leading VMS solution technology in the world
We’ve been named a leading VMS solution by placing furthest in the “Solution Strength” Quadrant on the Ardent Partners 2024 VMS Technology Advisor Report.
The report evaluates the entire VMS landscape, a significant milestone in Flextrack’s growth and standing as a first-choice solution on the world stage. Being placed as a market leader highlights the quantum leap in our technology compared to legacy platforms with hard-coded workflows, rigid architecture, no analytics, and minimal integration.
Ardent’s multimodal research process leverages qualitative, quantitative, and deep market knowledge from contingent workforce experts; it uses rigorous standards to choose how solutions are graded and ranked, presenting only the most powerful choices for organizations to select from.
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