What is a Managed Service Provider?
A Managed Service Provider (MSP) is strategic partner that provides organizations with an effective way to manage their contingent workforce. As an MSP partner, Greensboro Staffing Consultants provides a unified platform for centralized supplier management activities, helping bridge the gap between Human Resources (HR) and Procurement. By integrating Vendor Management System (VMS) or Freelancer Management System (FMS) technology into your MSP solution, we help organizations can gain greater visibility and control over supplier data & relationships while ensuring compliance across all stakeholders.
VMS technology helps organizations manage their contingent workforce by tracking & monitoring key performance indicators (KPIs), creating detailed reports on cost savings from suppliers, and reconciling invoices quickly & effectively — ultimately providing a 360-degree view into spending patterns & supplier performance over time. VMS/FMS integration allows organizations to maximize invoice processing efficiency while simultaneously ensuring that payments are compliant with company policies; avoiding any potential fines or penalties associated with non-compliance.
Is an MSP the right solution for my company?
When considering whether or not to outsource contingent workforce management to an MSP, here are some questions business leaders should ask:
- What type of labor needs are best met by a contingent workforce?
- How does the cost of outside contract work compare to internal staff expenses?
- What is the time investment for recruiting and onboarding external workers?
Benefits of outsourcing your contingent workforce program to Greensboro Staffing Consultants
Partnering with an MSP to manage your contingent workforce operations can offer numerous benefits, including:
Cost & Efficiency:
- Lower recruitment costs, as we absorb the overhead costs associated with recruiting.
- Faster hiring processes, as we can quickly mobilize workers since we already have a vetted database of local & international vendors.
- Automated billing and payroll services, reducing the burden on HR staff.
- With automated sourcing solutions, organizations can reduce requisition periods from months down to mere days! Achieving this level of agility gives you an edge over other companies and builds better candidate experiences.
Risk Management & Compliance:
- Reduced risk of legal or compliance issues, as an MSP will help ensure that all relevant regulations are followed.
- Improved oversight and accountability for your contingent workforce program through streamlined reporting and analytics.
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