If you are a Human Resources or Procurement executive, you may be hearing the new acronym “FMS.”
Especially if you use a MSP/VMS solution, the time is now to familiarize yourself with the benefits of an FMS to gain a highly effective (cost-reducing) extended workforce program.
FMS is a private cloud-based SaaS platform to allow enterprises in all industries to engage, manage and pay an extended workforce which can include:
- Independent Contractors
An FMS offers:
Work Management Tools: includes job templates and work routing rules as well as complete visibility into your worker’s capabilities, work history and performance.
Talent Consolidation: Assimilates your company’s existing labor pool or allows you to build an entire network from scratch with your entire extended workforce program consolidated onto a single platform.
On-Demand Job Filling with Smartphone Mobile Apps: Provides a direct connection between you and your extended workforce with visibility into skills, quality and proximity factors. OnForce’s mobile app iOS and Android can reduce time to fill a job to within minutes of posting a work assignment.
Risk Mitigation: Collects and analyzes all of the data related to a work event and provides analytical evidence of compliance that mitigates the risk of misclassification.
Consolidate Invoicing, Administration and Reporting: Eliminates virtually of the manual processing of freelancer payments and 1099 administration. Consolidated invoicing can be performed through an existing MSP tool set–reporting all work history and associated costs to the MSP for consolidation. All administration and reporting is done under the umbrella of the MSP.
Timekeeping and Payment: Prevents rogue spend by consolidating your extended workforce onto a single platform, bringing cost traceability to the individual, the work performed and the supporting organization. Timekeeping and invoicing are virtually eliminated as workers are paid through the software via a prefunded account that results in payments within days.
That’s it in a nutshell. To learn more, download our whitepaper, The Freelancer Management System: What is required For The Next Frontier of Enterprise Contingent Workforce Management. The Freelancer Management System: What is required For The Next Frontier of Enterprise Contingent Workforce Management. Just click on GET THE WHITEPAPER.