Over the past two decades, Vendor Management System (VMS) and Managed Service Provider (MSP) models have transformed the contingent workforce program landscape and achieved widespread adoption among large enterprises. Yet, the pandemic exposed weaknesses in the existing model and forced acceleration of ongoing digital transformation. This has been driven by the demand for expanded functionality, improved data analytics, and the need for visibility into an organization’s entire workforce. After relying on VMS technology augmented by one or two standalone apps or programs for the past decade, the contingent workforce industry is primed for a change. How will this model evolve, and what does the future hold for these systems? Our aim in this report is to answer these questions and identify best practices. 

Contributors: Magnit
Categories: 2023 Spring - Amelia Island, Summit Presentations, Whitepaper
SRC Type: Sourcing Management, Talent Management, Third Party Management