Glossary terms: V

Term

Definition

Product

VAT

Value Added Tax (acronym)

VAT is a type of consumption tax placed on a product whenever value is added at a stage of production and at final sale.

Vendor

A company that provides a service and/or resources to another company. For example, Beeline is a vendor to our clients who use our Beeline Enterprise technology.

Supplier is the preferred designation to identify companies that provide contingent workers. Vendor is the preferred designation to identify companies that use our Services Procurement, project-based solution.

Services Procurement

Vendor Compliance

The process of establishing and enforcing requirements for outside vendors to operate effectively and appropriately as a business partner with the client.  This process involves templated procedure that ensures completion prior to formal engagement and sets client expectations and protections.

Vendor Management Office

An onsite client team that is responsible for managing their non-employee workforce. Alternate terminology could be Program Management Office.

Vendor Management System

Beeline Enterprise is a Vendor Management System (VMS) sold as a Software-as-a-Service (SaaS) solution. 

Beeline Enterprise is used by clients to fill temporary or contract staff positions.

Staffing firms (aka suppliers or vendors) respond to requisitions with a short list of candidates, check on the status of submitted candidates, and provide oversight for timesheet submission.  Contingent workers (aka contractors) enter time and report expenses.

Beeline Enterprise also provides consolidated invoicing, onboarding and offboarding, and analytical reporting.

Contingent Staffing

Vendor Neutral

A firm which is completely impartial in its relationships to suppliers.

Vendor on Premises

VoP aka Master Vendor

Outsourcing arrangements where a full-time staffing coordinator administers the entire outsourcing process for the client: interviewing, testing and screening applicants, filling job assignments, issuing payrolls, providing on-site management of the department. The main difference between a VoP and a Managed Service Provider (MSP) is that a VoP is typically a supplier that funnels all staffing requisitions to themselves before distributing to other suppliers in the program.

Verbal Award

Verbal confirmation from a client that Beeline has won the client's business

Client Onboarding

Version Control

Beeline feature where clients use Microsoft Word® from the Statement of Work module during in the negotiation process to red line documents.

Services Procurement

VMO

VMS

See Vendor Management System

VoP

See Vendor on Premises