Services Spend - Beyond Contingent Labor: Achieving And Implementing Savings
SPEND MATTERS COMPASS SERIES
2010 Volume 1: The Services Spending Revolution: Gaining Visibility, Control and Saving
In recent years, many procurement organizations have begun to examine the opportunity to consolidate their contingent and even statement of work (SOW) buying activities under a single buying umbrella. While undertaking the management of sourcing and services lifecycle responsibilities for their company’s contingent-purchasing activities, procurement teams have had to work closely with both business stakeholders and other constituents (e.g., HR). In nearly all cases, the investment of time, money, and internal political capital have been worth it, often yielding double-digit savings; this even after taking into account the increased hourly rate charged by suppliers to recoup the three digits of basis points (e.g., 2% of spend they pay to managed services providers (MSPs) and providers of vendor management system (VMS) software. While many organizations will admit that much work remains for them to further consolidate the bulk of the roles, functions, and geographies of their contingent-spending activities, the future for contingent spend savings and control is looking better within most companies than ever before.
Fieldglass, Inc. provides the leading SaaS platform to procure and manage contingent workers, services such as statement of work projects, independent contractors, and specialized talent pools. The highly-configurable product suite provides transparency into the entire workforce and helps companies optimize program performance and make more strategic labor decisions. Backed by proven experience and the industry's largest customer base, Fieldglass helps Global 2000 firms realize greater efficiencies, control spend, improve quality and enforce compliance.