Contractor management software is any system or technology solution intended to support organizations with sourcing, hiring, managing and paying their freelance workforce. Procurement leaders can use contractor management software to reduce time to hire, optimize spend, and enhance visibility and control.
What Should You Look For in Contractor Management Software
Customized Dashboard
Contractor management software should be personalized to your organization’s specific needs. Every user or role has a different need, and an individual user’s needs may change as a business evolves and goals change. Consider a contractor management software that provides a personalized dashboard to suit the unique requirements of each role that the user can configure with no help from an admin.
Contractor Onboarding and Profiles
Ability to easily onboard new contractors, collect necessary documentation, and create detailed contractor profiles including qualifications, certifications, and contact information.
Compliance Management
Ensure the software assists in maintaining compliance with regulatory requirements, certifications, insurance, and licensing. Alerts and notifications for expiration dates of documents and certifications are crucial.
Reporting and Analytics
Robust reporting features to generate insights on contractor performance, project progress, compliance status, and financial metrics. Customizable dashboards and analytics tools are beneficial.
Security and Permissions
Robust security measures to protect sensitive data and configurable permission settings to control access levels for different users within the system.
Scalability
Software should be scalable to accommodate changes in the number of contractors or projects, ensuring it can grow with your business needs.
The Best Contractor Management Software and Solutions
Like with any critical business tool, contractor management software can feel like a crowded market! There are many different tools and technologies to choose from, and you’ll need to do some research before you land on the right option for your business. To help you get started, here are six of the best!
Fiverr Enterprise
Fiverr Enterprise is a SaaS solution that gives you full visibility and control over your entire freelance workforce by allowing you to source, hire, onboard, manage and pay, all while ensuring compliance, so your teams can work faster and maximize business growth.
A single solution for managing freelance talent, Fiverr Enterprise is focused on supporting Procurement leaders in compliantly hiring the right talent, and retaining visibility over this essential element of their workforce. Our platform includes a smart sourcing service, providing pre-vetted talent ready to hit the ground running, and allows you to build your own talent pool of freelancers, proven to be compliant, open to work, and a great cultural fit.
Fiverr Enterprise also automates the legal and compliance headaches that can slow you down when onboarding and offboarding freelancers. We allow you to set up customized and automated workflows to collect the right documentation and ensure signatures on key legal forms, and also automatically alerts to any risk of misclassification. To keep control over costs, you can also use Fiverr Enterprise to set up customized payment terms, paying your freelancers accurately and on time through their preferred channels.
Deel
Deel allows you to quickly hire new employees abroad, primarily using the Employer of Record model. The company has more than 100 entities around the world, who take on the hiring on behalf of your business, so that employees can compliantly start working for your organization, no matter where they live. Deel calls itself a global HR platform, taking the place of multiple disparate human resources tools, and supporting teams in tasks such as sending equipment worldwide to new workers, and creating compliant contracts for different regions.
Remote
Remote is all about building an international team, whether that’s via employees or contractors. As a result, they have many options for attracting worldwide talent, including offering global benefits and stock options or equity plans. You can use Remote to hire employees and freelancers, and to pay your whole workforce at the end of the month. As an alternative to setting up a legal entity in every country you want to do business, Remote can save you time, money, and administrative effort.
Rippling
Calling itself an all-in-one global HR platform, Rippling covers the employee lifecycle, from finding and onboarding new employees, to offering promotions, collecting satisfaction surveys, and even exit questionnaires. They also offer integration opportunities such as with Slack, Zendesk and GitHub, all the better for workforce analytics.
Multiplier
If you’re looking to expand into multiple new markets, Multiplier could be the right contractor management software for you. However, the company is focused on global hiring and Employer of Record, rather than strictly fixed on contractors or freelance talent. Global employment can be a compliance headache, and Multiplier has a strong solution for ensuring employee hiring, benefits and workload stay in line with regulations anywhere in the world.
WorkMarket
WorkMarket is ADPs freelancer management solution, which means you’re certainly going to see a lot of bells and whistles. You can use WorkMarket to manage jobs at scale, sending jobs to contractors, creating reports for assignments and spend, and even using AI to auto-invite workers to specific tasks! Track deliverables on desktop or mobile. In certain industries, such as Healthcare and IT you can also source talent and access targeted compliance support.
Implementing a Contractor Management System
Once you feel confident that you can choose the right software that meets your specific business needs, you’ll want to prepare your data. This could be anything from adding existing freelancer relationships to your talent pool, or keeping track of how freelancers want to be paid.
Make sure that your contractor management system is flexible enough so that you can configure and customize to suit your business. You may have specific Legal forms like an NDA or an IP agreement that you want signed on onboarding, or system access that you want to provide as part of an automated workflow.
If your solution is a good fit, it shouldn’t involve too much of a learning curve, but you’ll still need to train your team. There’s always change management involved when onboarding a new solution, so be transparent with your team about the benefits. Over time, you can monitor and adjust expectations or add education as necessary.
Fiverr Enterprise – One Contractor Management Tool with Limitless Benefits
In the busy life of a Procurement team, a new process for onboarding and managing freelance talent can revolutionize the way you work. Today’s increasingly remote workforce is the perfect environment to incorporate a freelance strategy, where freelancers fill skills gaps and add niche expertise to the workforce.
However, there’s no doubt that traditional hiring and onboarding processes built for employees take too long, and aren’t fit for purpose, which usually means hiring managers and workers just ignore them. This leaves companies open to risk, whether it’s misclassifying employees as freelancers, or skipping steps so critical documentation is left unsigned, or data privacy processes are poor.
With Fiverr Enterprise, you get a feature-rich platform with key benefits built for freelancer management, including:
- Agility in hiring: Fiverr Enterprise sources expert talent that’s compliant and ready to get to work. Simply post a job, and receive 2-6 viable candidates in just 48 hours, or choose from our pre-selected list of expert freelancers, available immediately.
- Autonomy over sourcing: Give hiring managers supervised control, with a pre-vetted and compliant talent pool of freelancers, from rehires to new freelancers. Now they can hire and deliver faster, without risk.
- 360° compliance: We automate and customize legal and tax compliance in line with your business context, taking the weight of paperwork off your teams entirely. Your relationships are monitored continuously, alerting you to any misclassification risk.
- Visibility and control: Keep budgets and freelancer payments on one centralized dashboard, with every spend connected to a purchase order and a cost center so nothing slips through the cracks. You pay us one invoice according to your own terms.
- Reduced risk: Rest assured that you have a single, fully compliant contingent workforce, including freelancers, contractors, consultants, and agency workers. No signature will be missed, and every global regulation covered. Your time is freed up to be used strategically elsewhere.
Interested in implementing contractor management software and realizing these benefits in your own team? Schedule a 30-min call with one of our workforce experts to learn more about Fiverr Enterprise!
Related content: Read our guide to vendor management system
Related content: Read our guide to contractor management process