Benefits of an Online Contractor Management System
One of the main aims of contractor management is to ensure that workplace compliance is met at all times. Contract management systems help by creating a system of controls to ensure that the likes of health and safety standards, insurances and project-specific training are up to date at all times. However, the world is changing. We are dealing with more contractors, in more places, from more sites, during more hours of the day, and night. And, we are faced with the challenge of being constantly connected, in a device-driven world.
Fortunately, there is an answer. Cloud-based, Software as a Service (SaaS) solutions can be used to manage the whole contract lifecycle and are changing the way we hire, manage and communicate with our contractors.
The Rise in Cloud-Based Business Solutions
As no doubt you’re aware, contractor management isn’t the only area of business being revolutionised by cloud technology. While merely a buzzword ten years ago, cloud computing is now commonplace. SaaS solutions have broken down the barriers to cloud adoption, offering an affordable, quickly accessible and low-maintenance route to entry. Cloud computing offers huge benefits to any business with a remote, mobile or contingent workforce. With cloud solutions, you know that data is reliably gathered and distributed to your entire organisation. The cloud empowers you to focus less on maintaining your computing power and more on growing your business.
There are cloud solutions to almost every business problem, from hosted email solutions to IT servers and, you guessed it, even contractor management software. The cloud has proven itself as a viable solution to many problems, offering unrivalled flexibility, scalability, and optimised security. In the cloud, you can be proactive about compliance, maintain control of your workforce and in contact with your partners.
The Challenges of On-Premises Contractor Management
There are two key issues associated with contract management systems, the centralisation and the accessibility of data. When businesses what to optimise their pool of contractors and vendors, it’s vital for them to have a central repository. It becomes incredibly challenging to manage contractors when contracts are dispersed amongst multiple teams in multiple formats. Often, on-premises contractor management leads to:
Missed renewals - due to a lack of universally available information and notifications of key dates.
Gaps in compliance - due to the increased likelihood of records not being kept up to date.
Overspend of budget - due to an inability to strategise or consolidate contractor spending.
Increased admin - due to the need for manual work to search for information about specific contractors.
Delayed system updates - due to the responsibility for updates and ongoing management sitting purely with the IT team.
Unfortunately, all of these issues result in increased costs, increased risk and, ultimately, a greater chance of supply chain failure.
The Benefits of Cloud-Based Contractor Management
As we’ve touched on, the cloud offers a huge number of business benefits. By moving to a cloud contract management system, you can improve:
Remote working - your team can input data from wherever they are, helping you to create an autonomous workforce in a controlled environment.
Mobile data access - data is securely available, so contract administration, reporting, approvals, renewals and more can be managed from wherever your teams are working.
Business flexibility - you have the ability to add or remove resources as needed, meaning that the SaaS solution fits your business needs.
IT spend - you don’t have to purchase redundant hardware or manage infrastructure, so you can benefit from significant cost savings.
Storage efficiency - all contracts are stored in one centralised location and are easily searchable, regardless of where they are in the contract lifecycle.
Contract security - all data is stored securely, protected by two-factor authentication and permission-based rules and triggers.
System updates - updates to the system are deployed automatically, meaning that you will always be working with the very best version.
Business processes - by creating ‘smart contracts’ in the cloud, not only can you access data and reports quickly, you can automate processes such as reviews and approvals and save valuable resources.
Collaboration - contracts can be accessed by those who need them when they need them, making collaboration between internal departments and third parties much simpler.
Improved Compliance in the Cloud
As well as the many general benefits of moving to a cloud contractor management system, you can also improve contractor compliance. You are able to work in real-time and have constant visibility of all of your contracts and contractors. By working with a more robust and reliable platform, you can minimise the costs of data entry and manual processes and reduce the risks of missed contract deadlines and compliance issues.
For over a decade, Conserve’s online platform has helped organisations overcome contractor management challenges. We can help you develop a contractor management service that will be not only effective but will make your organisation safer, while minimising your overall risk. Request a demo now or visit the Conserve page for more great content.
For more information, call +61 2 8883 1501, visit www.conserve.com.au or email enquiries@conserve.com.au