A Vendor Management System (VMS) focuses on managing vendors or agencies that provide services, often with teams involved. A Freelancer Management System (FMS) is designed for managing individual freelancers or independent contractors. Some platforms support both in one system.

A Vendor Management System (VMS) simplifies onboarding by automating form collection, contract signing, and compliance checks. It removes the need for email chains and paper-based processes, making vendor onboarding faster and more scalable.