With Workday and VNDLY, a Workday company, organizations can create a holistic talent strategy that maximizes their extended pool of talent.
The rapid pace of change has reshaped not only the nature of work but also who does the work—as in, the workforce. Companies are facing rising labor costs and a growing skills shortage, while at the same time an increasing number of workers are pursuing
entrepreneurship over traditional employment. While gig work has been mainstream for years, these conditions continue to fuel the rise of contingent workers in the workplace—meaning those who are offering their skills through independent labor, such as
freelancing or seasonal employment. By 2027,
contingent workers are expected to compose a majority of the U.S. workforce.
This shift in workforce composition is driving many organizations to develop a holistic workforce strategy, where employees and nonemployees are considered together as a total workforce.
That’s the vision behind
VNDLY, a Workday company, which is an industry leader in cloud-based external workforce and vendor management systems (VMS).
Workday and VNDLY started their working relationship roughly two years ago when VNDLY became an access partner. Soon after, Workday certified VNDLY’s Workforce Connector, making it the only VMS with a certified integration with
Workday Human Capital Management (HCM). This means that when Workday's acquisition of VNDLY closed in December 2021, VNDLY and Workday HCM were already integrated.
With VNDLY, companies fundamentally transform the value of a workforce composed of both full-time and contingent employees. VNDLY brings together procurement, human resources (HR), finance, IT, and legal, creating an end-to-end solution that gives full insight into external worker recruiting, negotiations around the statement of work, compliance, and billing. As a result, companies have a unified workforce optimization solution that will help organizations manage all types of workers—salaried, hourly, contingent, and outsourced—and support a holistic talent strategy, including workforce planning needs and compliance.
Workday and VNDLY: Elevating the Value of the Total Workforce
As a leading VMS, VNDLY addresses the gap between managing the extended workforce and aligning it with the company’s business strategy.
It’s why global research firm
Everest Group named VNDLY a Star Performer in the top category of
vendor management systems for the second year in a row. The powerful capabilities of VNDLY enable companies to think more expansively about workforce management, empowering them to more nimbly adapt amid changing economic conditions and, more acutely, accommodate shifting worker preferences such as increased flexibility.
“With the Workday and VNDLY integration, I can get full workforce visibility to attract, retain, and manage the best possible contingent workforce,” said Melissa Stegman, vice president, senior manager contingent workforce programs at Fifth Third Bank. “The integration enabled my team to take weeks and months off deployment timelines, maintain the integrity of our data, and create the flexibility to accommodate changing business needs.”
Here are a few highlights of what we envision for the future of VNDLY.
Bolstering Workday as a Hub for All Workers
The VNDLY integration of extended worker data into the Workday platform bolsters the strength of Workday as a hub for managing and growing a company’s entire workforce. That means our Workday customers who have VNDLY can apply necessary downstream systems—such as badging, network access, email—to their extended workforce.
For most companies, allocating privileges and permissions (i.e., provisioning) to the extended workforce is distributed over many systems. But having provisioning capabilities in one system, such as with the Workday and VNDLY integration, helps companies ensure security protocols are applied across the workforce, including properly deprovisioning extended workers from the systems after completion of their contract.