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

VCO

See Vendor Compliance Office

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 technology, and to our clients who implement our technology and use our Managed Services team to manage their program.

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.

Services Procurement

Vendor Compliance Office

Department that oversees the Vendor Compliance System, Processes and Services.

Vendor Management Office

Converged term is Program Management Office.

An onsite client team that is responsible for managing their non-employee workforce.

Client Onboarding

Services Procurement

Vendor Management System

VMS (initialism)

VMS referred to the Beeline application and database sold as a Software as a Service (SaaS) solution. The Beeline VMS is now called the Beeline platform. The term VMS still applies to the IQN solution.

The Beeline platform is used clients (aka buyers) to open new requisitions, evaluate candidates, and 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 update bids.  Contingent workers (aka contractors) enter time and report expenses.

Beeline's VMS also provides consolidated invoicing, onboarding and offboarding, and analytical reporting.

IQN Vendor Management System: An Internet-enabled, often Web-based application that acts as a mechanism for businesses to manage and procure temporary staffing and occasionally permanent placement services, and outside contract or contingent labor.

Contingent Staffing

Vendor Neutral

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

Vendor on Premises

VoP (initialism)

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. The primary or master service provider.

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 redline documents.

Services Procurement

VMO

Vendor Management Office

VMS

See Vendor Management System

VoP

See Vendor on Premises