Addressing this trend, 70% of large buyers of temporary labor (including Fortune 500 companies) are now leveraging vendor management systems (VMS) to streamline contingent workforce management. Spend flowing through VMS is growing at a rate of more than 20% per year – considerably faster than growth in overall recruitment spend.
Bullhorn has enabled recruitment agencies to take advantage of this $90 billion market by providing a proven, seamless integration between core recruitment system providers and VMS solutions: Bullhorn VMS Access. Bullhorn VMS Access is a cloud-based subscription service for recruitment agencies of all sizes working on any volume of VMS job orders.
Bullhorn’s platform supports client portals, candidate portals, and vendor portals to enable recruitment agencies to act as MSPs or sub-vendors and operate different lines of business within Bullhorn, and the company will leverage VMS Access as a foundation upon which to further develop technologies that enable recruitment agencies to operate multiple lines of business. Bullhorn will expand its existing MSP recruitment offering and accelerate it into an industry-leading suite of recruitment software solutions to benefit recruitment agencies of all sizes looking to capitalise on this rapidly-growing market. Stay tuned for more details on our MSP recruitment offerings.