Successful companies know that to gain a competitive edge it is important to build strategic partnerships with complementary organizations. Each company essentially offers a service the other lacks and the two must align their values to build proper momentum.
As the staffing and consulting industry continues to evolve, many companies are now utilizing a Managed Service Provider (MSP) and/or a Vendor Management System (VMS) to assist in managing their staffing suppliers in order to streamline and optimize their contingent workforce. The MSP/VMS model where top VMS solution providers partner with the best workforce and talent acquisitions providers provides tremendous value to customers. These partnerships allow for the MSPs to service clients with an integrated solution within one ecosystem by bringing in the full scope of tools in a VMS to manage contingent workforces, freelancer workers and service procurement spend. The complementary partnership provides a faster, more efficient process for client engagements. Additionally, such partnerships serve to unify services and speed up implementations, often a big pain point for end users.
Today’s environment is particularly favorable for companies to take advantage of such strategic partnerships between MSPs and VMS providers. Regulatory requirements, economic uncertainty, and continued innovation are affecting contingent workforces, and companies that rely on contingent/temporary/freelance talent should consider if the timing is right to partner with a services and a software provider who can help them to address the changing contingent workforce management landscape. Some of these drivers include: