Here is Part 5 – the final post of our blog series on “Innovations in Vendor Management Systems (VMS).” As noted in our previous posts, the Sourcing Industry Group (SIG) held an in-depth briefing with PRO’s Ted Sergott, Executive Vice President of Product Development about our VMS, Wand. SIG evaluated and assessed PRO’s VMS offering in the following areas: Rate and Spend Management, Implementation and Consulting, and Services Procurement. Based on SIG’s review, you can see why a number of clients worldwide use PRO.
We hope you have enjoyed reading our VMS series. If you would like to catch up on any of our previous posts including Part 1, Part 2, Part 3 and/or Part 4, please check them out. As for Part 5, please keep on scrolling!
VMS Advancements in Rate and Spend Management, Implementation and Consulting, and Services Procurement
Rate and Spend Management
- PRO’s Wand platform includes real-time market rate data by location in its SAM package. The market rate is loaded directly into the Wand SaaS VMS platform and is available to the Manager in the Create Request workflow. This module includes sanitized, anonymous, cross-client data in addition to market data.
- Additionally, the Wand Discovery BI Platform contains benchmarks based on industry or vertical. The Wand platform has many ways to help a manager with their budgeting and forecasting. Every engagement will have the forecasted cost, funds depleted, and any Change Orders. The Wand Discovery platform has all the global data available to be customized for forecasts.
Implementation and Consulting
- PRO clients who have the integrated VMS/MSP solution (the majority of clients do) have consulting services included in the offering, giving them access to experts across a wide variety of topics throughout the lifetime of the engagement, including free implementation support upfront. For VMS-only customers, the implementation fees can be waived or negotiated depending on the amount of spend and number of integrations. Service packages are available including SAM, Business Validation, and engagement consulting. PRO provides configuration support for all VMS customers at no charge.
- The average time frame from signed agreement to launch is 30-90 days. There are four factors that determine the pace: 1) services/solution offering; 2) volume of workers and suppliers; 3) priority of countries/locations; 4) the client’s constraints and business drivers.
- PRO’s project methodology is designed to be scalable for every implementation. To support a “rapid deployment,” PRO leverages a library of templates and tools. They also leverage technology such as web-based enrollment for workers and suppliers. Leveraging technology helps standardize the information flow and provides the end user an efficient submittal process that reduces follow-up effort for incomplete data.
- PRO is able to minimize the go-live compression of activities utilizing their project methodology and planning to be ahead of the timeline. Many activities need to be executed during the deployment phase and PRO builds an in-depth cutover plan to ensure all activities are completed. In addition to applying additional resources to support these activities, below are some examples of efficiencies sought:
- Training – PRO will execute a training strategy and deliver recorded modular system training to off-set the resource strain and stakeholder time constraints of delivering live training.
- Data Loading – PRO will execute data validation exercises weeks prior to launch to ensure all data is accurate. This allows PRO’s team to focus on recent transactions to ensure PRO loads accurate data without time limitations.
- Supplier Vetting – PRO’s project plan and timeline account for the volume of suppliers that need to be enrolled along with how many suppliers have partnered with PRO at other programs. PRO will perform an in-depth analysis to identify which suppliers they have had issues with during enrollment and pinpoint what their concerns were during previous negotiations. This helps PRO expedite the process to enroll suppliers and allows PRO to have all suppliers vetted prior to go-live.
- As an example of an actual client request turning into a standard configuration, one of PRO’s clients required a portal for candidates who wanted to be considered for future contingent positions. Their résumés were stored in a repository for managers to search. The client used unique job titles and families, which did not translate to the general public. PRO created an applicant portal that performed this translation. External candidates were now able to select familiar jobs for consideration while the Manager’s search yielded a pool of candidates associated with the internal job titles. This functionality is now configurable for all clients.
- PRO’s platform can handle all types of project requests including: time and materials, milestone and duration. Project-based requests contain multiple workers and can be milestone or duration-driven. Clients can assign specific resources if desired.
- Projects can also be bundled under a master SOW. Wand now has RFx capability allowing the client to create an RFI or RFP with unlimited questions to be filled out by suppliers. Suppliers answer questions and attach artifacts in the tool, allowing the client to do a side-by-side comparison of responses. Managers enjoy the same mobile functionality for these engagements, approving billing and change orders from their phone, tablet, or Apple Watch.
- When creating a project request or SOW, the client can select as many suppliers as desired through Wand. The suppliers have the ability to create their own Supplier Profile complete with branding, skills, and artifacts. The client sees ratings and past reviews of the suppliers. All project or SOW Requests can be reused in the future.
If you or a member of your team would benefit from a further discussion or a demo of Wand, please contact a PRO representative at 800.291.1099 or email at firstname.lastname@example.org.
Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of PRO Unlimited and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.