In today’s business world, the make-up of an organization’s total workforce is changing and diversifying. For example, this year, foreign employees will be used more often than last year.
Companies are using expanded workforces more frequently to fill skills gaps, lower costs, and improve hiring agility to scale swiftly. And many organizations are continuously searching for better ways to manage this crucial segment of their workforce, as their workforce’s capacity to adapt to change has emerged as a strategic differentiator.
Enter Workday VNDLY!
What is Workday VNDLY?
VNDLY, a Workday company, is an extended workforce and vendor management system (VMS) that’s now part of Workday’s suite of products.
Regardless of your business or the location of your workers, Workday VNDLY can help you manage your total workforce, talent, and statement of work (SOW) requirements more efficiently.
With Workday VNDLY, customers can access the most recent advancements in SOW, extended workforce, and worker profile management solutions, allowing them to improve access control and management for critical vendor-related tasks. Additionally, users can leverage Workday VNDLY to profit from platform-wide fundamental features, including self-serve configuration, thorough reporting, dashboards, and extensive invoicing and rate control.
Why People Are Choosing Workday VNDLY VMS
Workday VNDLY leverages machine learning (ML) and other automation tools to empower your finance, HR, and procurement teams to optimize the productivity and efficiency of your extended workforce.
Increased Operational Efficiency
Consolidated billing, faster approval procedures, milestone payments for SOWs, streamlined time and cost input, and other features included in Workday VNDLY help you save time and minimize the human labor required to complete tasks.
Increased Workforce Visibility
Facilitate data-driven decision-making by providing quick access to critical indicators, such as headcount, performance, projects, and spending for temporary workers.
Reduce Risk and Better Manage Compliance
Standardize and automate core business processes and control access for contract workers in a single system of record that features industry-leading security measures.
Support Global Needs
Get assistance negotiating the requirements for billing, employment legislation, data rules, and other difficulties associated with working internationally.
What Can You Do With Workday VNDLY?
Here’s a look at all the major capabilities of the Workday VNDLY solution:
Optimize End-To-End Lifecycle Management of Contingent Labor
Streamline and optimize key processes, empower teams to collaborate effectively, and provide end-to-end support for the following:
- Contingent labor recruiting
- SOW negotiation
- External worker onboarding
- Local compliance requirements
- Billing and invoicing
- Eventual off-boarding.
Workday VNDLY makes it easy to effectively plan, manage, and analyze the demands and expenses of contingent workers by consolidating all of your external workforce management functions in one location.
Take Control of Statement of Work Deliverables
With Workday VNDLY, you can access everything you need in one location to reduce project risk, fulfill deadlines, find cost reductions, and eliminate unplanned spending.
And, you acquire the power to create controls around processes, facilitate agreements, and gain access to comprehensive information about ongoing projects, including pending and prior requirement adjustments.
Reduce Time To Hire
Hire the right people for the right jobs at the right time with Workday VNDLY.
Workday VNDLY gives vendors knowledge of existing and upcoming available roles, allowing you to maximize vendor alignment and bypass specific phases in the hiring process to improve efficiency for available roles.
Improve Program Transparency
Gain complete end-to-end process visibility for your extended workforce management and hiring operations and facilitate more comprehensive SOW monitoring across the organization. Workday VNDLY provides you with the knowledge and resources to respond to pressing inquiries about headcount, roles, spending, and location.
Improve Financial Controls
Ensure candidates are at or below your maximum rate allowance by enforcing rate thresholds. With complete insight into the total available budget, committed spending, and invoicing amounts, you can stay on track with project spending and stick to established budgets. Workday VNDLY can also reduce human invoice reconciliation by leveraging system restrictions, allowing only approved costs.
Increase Invoicing Efficiency
Utilize batch processing or individual off-cycle invoicing to stay on top of your billing. With Workday VNDLY, you can put single-line item-related queries on hold while continuing to advance other items through the process. This keeps vendor interactions regarding payment and invoicing queues from backing up.
Flexibility to Meet Business Needs
Using a user-friendly, self-service setup that allows you to work however you need to, you can avoid long wait times associated with traditional support ticketing systems. And, with Workday VNDLY, workflows for approval, rate cards, invoice settings, vendor distribution guidelines, and more can be changed as needed.
Create a Connected Experience Internally and Externally
Workday VNDLY provides a cloud-based solution that connects all internal and external parties engaged in managing your extended workers, such as recruiting managers, human resources, procurement, program leads, managed service provider teams, and vendors. This way, companies can increase user adoption and facilitate better collaboration across teams and departments.
Achieve Global Capacities
With Workday VNDLY, business users can utilize specialized functionality to meet the needs of their global management programs. This includes managing tax rates, tenancy policies, various currencies, language packs, and accessing Workday VNDLY’s invoice template creator.
Drive Better Business Decisions
Workday VNDLY allows users to obtain the knowledge needed to support business choices and uphold excellent program control and performance across teams. You can acquire all the necessary information as soon as possible through Workday VNDLY’s more than 100 base reports and custom reporting functionality.
Dashboards also give you the option to apply filters for a more specialized perspective and provide advanced data visualization tools to help you evaluate your programs more efficiently.
Better Focus On Data Security and Compliance
With Workday VNDLY, you can relax knowing that your data is secure, no matter what. Compliance and data security are key components of Workday VNDLY. Workday VNDLY provides best-in-class compliance and data security procedures to protect your data and certifications for ISO 27001, ISO 27018, SOC1 Type II, SOC2 Type II, and Cyber Essentials.
Better Align the Technology Ecosystem
With seamless system connectivity, you can boost data security, increase information accuracy, and remove human labor. Workday VNDLY connects key technologies for managing contingent labor, such as Workday Human Capital Management, other HCM systems, procurement software, identity and access management solutions, and more.
These are the main key features of Workday VNDLY:
- Vital multilingual skill capability
- Automatic creation for job openings
- Easy-to-use manager and vendor self-serve features
- Simplified negotiation and maintenance of SOW contracts
- Convenient requests, evaluations, and approvals for SOW change orders
- Checklists for compliant onboarding and offboarding
- Efficient vendor performance management
- Simple time and expense tracking
- Effective rate card administration
- User-friendly configuration tools
- Effective off-cycle batch and individual invoicing
- International digital billing functions
Benefits of Workday VNDLY
Take a look at some of the main benefits of Workday VNDLY:
- Offer full transparency in your workforce programs
- Fill any skills gap with external talent
- Decrease time to hire and retrieve required skills at the right price point
- Provide flexibility to meet business needs over time
- Increase data quality and security with seamless system integration
- Set criteria to adhere to local employment laws and time rules
- Increase global user adoption with local language packs
- Optimize change management processes
- Supervise vendor effectiveness
- Manage program spend and remain in budget
- Decrease manual effort and curate efficiencies within the business process
- Maintain compliance with local invoices and limit manual invoice reconciliation with pre-approvals
How We Can Help
Whether you’re looking for an up-to-date vendor management system to optimize your contingent workforce and streamline workforce management or just starting your journey with Workday, Surety Systems can help.
Our senior-level Workday consultants have years of experience and functional skills to help you successfully implement your Workday system and provide continual assistance long after your go-live date!
Ready to learn more about Workday VNDLY or get started with our Workday consulting team? Contact us today!