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hello what is a VMS and MSP these two are pretty confusing most of the time in those who are in staffing industry recruiter sales marketing delivery heads account managers client relations they often use these words let me explain this in a very layman term so that everyone can understand so consider our current time without a VMs and MSP how it will look like this is how it look like there's a client with a lot of business and there are vendors but there is no middle layer there's no process or there is nothing streamlined in order to make the deal happen all right so let me give you an example there is an ABC company and Joe is the hiring manager they're considering ABC her ABC company has a lot of requirements and the Joe has the responsibility to fill it so what he will do he will go to their procurement department and check with them if they have any vendors already who are signed the dock contract and whether they can help Joe to fill these positions in those procurement people will introduce free vendors and Joe will evaluate whether those vendors can help Joe fill the position or not and at the same time he is going to consult with his friends ex colleagues maybe to get some kind of advices or any vendors that they are using he can use or he can go and search for new vendors where they can help Joe fill the position and there's another problem there you there is a new vendor who is ready to fill the position and that person that vendor has to come and sign the MSA with ABC company again in at the same time Joe has to publish job online and he has to collect all the resumes call candidates by himself or maybe by their HR team called the candidate - in person and clean one after another after another this is the typical life of the hiring manager and ABC company at current time if there is no VMS on MSP let me take you to the recruitment side considering the recruiting company there is no VMS and MSP what they will do your sales manager or BDM will get a requirement from the hiring manager and share that with you and you jump with the requirement in the market and get resumes and share that with rubidium in the absence of your VM you go and approach the hiring manager for the feedback where email or calling or whatever the manner that is possible correct and just imagine how annoying it will be for the hiring manager if he or she is dealing with multiple vendors and with multiple positions all right think from sales and business development point of view what they will be doing they will be moving around these companies all the time with their visiting cards in search of hiring manager who was business for them and they really don't know that which business which hiring manager has requirements for them and which hiring medicine doesn't have so they keep on sharing their business cards and take the people to lunches dinners and gifting them in order to expect some favor so that the both can do business so now what is the problem of the company that is going to face which has multiple position to fill and there is nothing in there in between to track so it will have the cost problem and it will have the favor ISM you know what favor ISM is if your sales person found a hiring manager and they become friends in hiding manager will only share the requirements with their favorite managers and that will affect in quality and it will not allow the hard-working and genuine vendors to show their potential ability to fill positions with a particular company due to there is no process streamlined so there is no visibility how vendors are coming in and how things are going on in how many applicants rejected how many selected and so on once after everything goes well candidate on-boarded then the primary headache will come up you know what timesheet problems invoice problems there are multiple risk risk factors involved and there comes in the compliance problems will come out there so how bigger company is going to handle that considering all these difficulties how to manage multiple positions how to manage multiple vendors and all these things a bigger companies come up with the process that they thought of outsourcing this recruiting program there this part of the recruiting operations to agency all right so MSP now is managed service provider it's an agency it's a third party agency which has expertise in managing these kind of staffing programs it primarily takes care of the contingent workforce program is a is like contract filling contract positions of a bigger come and working with their own vendors and managing the process ing to they want and MSB msps work with a minimum cost percentage ma space will have their own program managers and program directors a bunch of people who sit at the clients location and they work with the hiring manager to understand what are the requirements and how they are going to work with date existing vendors and they'll take the requirement and they'll share with the vendors and they'll hand a handle from the requirement to placement and everything so what are the benefits that MSP provides it must be said they are going to help the bigger companies with the vendor management contract management invoice management they said they're going to do their market analysis and they are going to provide market intelligence to the client and they've said they are going to handle the risk management and I see compliances I see compliances is independent contractor compliances so MSP said everything that is involved recruiting they're going to work within their existing vendors the procurement department and they are going to handle it so what is VMs now VMs is vendor management system it's a software it's a website that MSP uses to ease this process to share requirements and other stuff to the vendors all right and what are the benefits that VMs offers to the client VMs will have their acquisition management timesheet entry invoice entry it provides data analysis and data analytics reporting it provides the data collection it manages bill rate and period that how much it has to be it'll allow a specific numbers of submissions a vendor has to do how many candidates backed out how many interview rejected how many submission rejected how many total submitted how many requirements sent to the vendors and how many they replied so with VMs the hiring manager and by help of MSPs they could able to understand which are the vendors they are more active and productive so that ABC company can work with only those focused vendors few MSPs have their own VMs and let's say agile one is an MSP and acceleration VMs is their own VMs so a Miss piece at a vendor neutral vendor neutral is they should not show any sort of partiality or favoritism to any of their mother or system concerned company they have to work equally with everyone so that is one of the advantages of the hard-working and quality driven companies who are focused towards quality services so all the vendors there they are happy to be chosen as a top one vendors to work with one company by providing better services and MSP and VMs both are happy by giving their features and their quality services to their client sometimes MSP works with the hiring manager and vendors and collaborates both together brings together on a conference call to discuss more about the job or company policies or anything that client wanted to share to their vendors I hope you got some clarity by now and with this next example I'm sure everything will be clear on the top using the client next hiring manager then HR team and HR system that integrates with VMs where the vendors can get the requirements as soon as a requirement comes into the HR system this is the MSB MSP works with the hiding manager and with the vendors and it keeps a close eye on the VMS as well here are a few examples of MSPs those have VMs and VMs peace doesn't have their VMs and some VMs are independent and clients doesn't have the choose of MSP which has a VMS or not because MSP will be chosen with its expertise and what are the problems it can solve at the same time if vm VMS can be independent to chosen by a client how that can help this all recording process easy with its features so here are a few examples of MSPs agile one it has its a VMs acceleration VMs alergies group Bartek pontoon pontoon users beeline as its VMs and the pontoon is MSP Walt Kelly ocg pro limited your branch star source right and here are a few lists of VMs s IQ Navigator a beeline field glass and acceleration VMs and so on thanks for watching I hope it helped you I'm going to create more some videos and share that with you thank you very much and bye bye