Running a business requires a commitment to growth and a willingness to see the big picture. Growth could require moving into new markets, even if they are halfway around the world. If your growing business is expanding rapidly, you may find yourself struggling to handle the growth. Functions you once handled on your own or in-house can suddenly become overwhelming.
Figuring out how to manage vendors when you expand into new countries, for example, could be a difficult process. Connecting with staffing companies, often called vendors, who can provide the right quality of staffing can be difficult when you don’t currently have a presence in a specific area. Singular is a managed solutions provider (MSP) who can provide a customized solution for your company’s needs. Services we offer include workforce company management, recruitment process outsourcing (RPO) and consulting for supply chain and vendor management.
Understanding the Vendor Management Definition
You may even wonder, “What is vendor management?” and question if it would benefit your business. Many times, the vendor management definition fails to adequately capture how complex it really is. Most people define vendor management as the process of monitoring contractual obligations and deadlines, enforcing agreements and verifying compliance with a variety of staffing companies or vendors. It may sound simple, but when you consider working with several companies in each region where your company is operating, it can quickly add up to a large number of vendors.
That can require a lot of work and effort from your employees, which would be better be spent on internal issues. Singular can easily step into a position to manage your various vendors, regardless of how many you use or the frequency with which you use them. As a division of Airswift, Singular has regional and local contacts all over the globe, enabling us to easily manage contracts with an assortment of vendors on your behalf. With contacts, offices and hubs on six continents, the reach that gives Singular is truly global.
Outside Vendor Management Can Streamline Your Business
Rapid growth can be a great thing for your company, but you never know when it will slow or decline. Instead of rapidly hiring internally for positions you may not need in a month, it makes much more sense to outsource vendor management. Singular will create customized solutions for your business, which can be adjusted depending on changes in your business or the industry. Whether it’s sudden growth or stagnation, Singular can ensure that our plan scales to your current needs.
Our staff will work at the local level to support recruiting and vendor management processes. We can even analyze your current practices, from benchmarking contractor salaries to reviewing your supply chain’s efficiency. Given the technical backgrounds Singular staff is drawn from, this helps ensure that your company is connecting with trustworthy vendors and contractors or contingent workers who meet your standards. Singular can change the difficulties of managing multiple vendors into the simplicity of having a single contact for all your vendor management needs.