Fieldglass Named Largest Vendor Management System (VMS) By Staffing Industry Analysts
The Industry's Foremost Annual Research Ranks Fieldglass Highest in Global Contingent and SOW Services Spend
Fieldglass, Inc.,the leading technology provider to procure and manage contingent labor and services, today announced it was once again named the largest Vendor Management System (VMS) provider by leading research firm Staffing Industry Analysts. In the firm’s 6th annual VMS and MSP Supplier Landscape report, Fieldglass ranked highest globally with $9.1 billion in temporary and contract staffing services spend managed through its solution. Fieldglass also led the industry in the fast-growing Statement of Work (SOW) market with $4.3 billion in spend.
“Fieldglass showed growth in 2010, topping our survey in both contingent and SOW spend under management,” said Bryan Pena, Vice President, Contingent Workforce Strategies and Research, Staffing Industry Analysts. “This is in line with the global trends towards not only a more flexible workforce, as companies continue to see the benefits of experienced, highly-skilled temporary labor, but also the increased utilization of VMS technologies to manage this diverse labor pool. VMS growth in 2010 was 44 percent from 2009 levels, which far outstripped the forecasted 12 percent growth in the overall temporary labor market in 2010.”
Staffing Industry Analysts reported total VMS spend was $75 billion in 2010, a 27 percent increase over the $59 billion reported in last years research. In particular, the firm saw a dramatic increase in SOW spend, growing nearly 58 percent year-over year to account for $21.6 billion of the total VMS spend. The research cites worker classification compliance as a driver.
Now in its fifth year, the VMS and MSP Competitive Landscape report provides the most detailed and comprehensive insight into the experience, positioning, and capabilities of VMS and MSP suppliers. The report is the first of a three-part series delivers information and analysis specific to market trends, segmentation and supplier footprints. Data was collected over a period of five months, followed by in-depth interviews of each responding company.