VectorVMS

Overview

VectorVMS is a United States-based company established in 1999, specializing in vendor management systems (VMS) within the Business Services industry, particularly in custom software and IT services. The company employs between 501 and 1,000 individuals and generates annual revenue of approximately $36 million. VectorVMS provides solutions aimed at optimizing contingent workforce management, as evidenced by its collaboration with First Citizens Bank. This partnership began in 2013 when the bank sought to transition from a decentralized, manual system to a more efficient, centralized VMS. The challenges faced included scaling issues with contingent labor, manual compliance documentation, and limited visibility into headcount and spending. VectorVMS addressed these needs by offering automated compliance, enhanced visibility into workforce metrics, and vendor performance audits. Additionally, the company supports clients through shared managed services, which include time tracking, invoicing, vendor compliance audits, and business intelligence reporting. This strategic approach aims to improve operational efficiency and compliance for organizations managing contingent labor.

Industry