Friday, March 02, 2012

Five Reasons Why Staffing Providers Should (And Do) Embrace Technology-Driven Vendor Management (Part 2 of 2) Guest Blog by Jeff Niles - Vice President of Sales and Marketing at ShiftWise – A leading provider of hospital workforce management software and services in the healthcare staffing industry. This post orginally appeared on the ShiftWise blog ShiftWise Exchange. This is part two of the “Top five reasons why staffing agencies should (and do) embrace technology-driven Vendor Management.” You can read part 1 here. 3. You will get paid quicker and your payroll costs will go down. On average, it takes more than 60 days from the time a shift is worked until the check from a hospital clears the bank when using a paper-based billing process. Yet many vendors pay weekly and often daily. This delay in payment costs staffing agencies hundreds of thousands of dollars per year in “factoring” or other borrowing costs in order to make payroll. In addition, there are operating costs that go into generating and processing paper invoices such as data entry, postage, ink, envelopes, and time on the phone disputing charges. With a VMS, all a vendor has to do is approve an online statement once per week and wait for payment which typically occurs within 30 days. It’s no surprise then that one company owner said to me “If I could get all of my clients to use ShiftWise for the payment process, I would save enough in other costs to hire several more people and further expand our business.” 4. You will be able to get more staff working at...

Jason Lander

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