VNDLY provides a vendor management system that centralizes the lifecycle management of contingent workers, including sourcing, onboarding, invoicing, and compliance. This platform enhances operational efficiency and visibility by offering configurable workflows and data analytics, enabling organizations to manage their extended workforce effectively while reducing risk and ensuring compliance.
Funding
$85M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many organizations struggle to efficiently manage their contingent workforce, leading to increased costs, compliance risks, and a lack of visibility into worker performance. Managing sourcing, onboarding, invoicing, and compliance for temporary workers, consultants, and freelancers often involves manual processes and disparate systems.
Solution
Workday VNDLY is a vendor management system (VMS) that centralizes the end-to-end lifecycle management of an organization's extended workforce. The cloud-based platform streamlines processes from requisition to offboarding, providing a single system of record for managing contingent workers and statement of work (SOW) projects. By automating tasks, Workday VNDLY helps organizations reduce administrative overhead, improve compliance, and gain better insights into their contingent workforce spend and performance. The system offers configurable workflows, digital invoicing, and robust reporting functionality to optimize every step of the contingent labor lifecycle.
Target Audience
The primary target audience includes organizations of all sizes that rely on a contingent workforce, including temporary workers, consultants, and freelancers, particularly those seeking to improve efficiency, reduce costs, and maintain compliance.
Features
- Centralized platform for managing the entire contingent worker lifecycle, including sourcing, onboarding, invoicing, and offboarding
- Configurable workflows and approval processes to automate tasks and improve efficiency
- Digital invoicing capabilities with line-item-level detail and custom invoice template builder
- Real-time visibility into contingent worker headcount, assignments, spend, and vendor performance
- Role-based access controls and compliance tracking to mitigate risk and ensure adherence to regulations
- Integration with Workday Human Capital Management (HCM) for a holistic view of the total workforce
- Support for global needs, including local compliance, in-country invoicing, and tax management
- Statement of Work (SOW) management tools to keep projects on track