FIELDGLASS-SPONSORED REPORT FINDS STRONG CORRELATION BETWEEN VENDOR MANAGEMENT SYSTEM (VMS) USAGE AND BEST IN CLASS SERVICES PROCUREMENT PROGRAMS
Aberdeen Report Finds Visibility around Statements of Work (SOWs) and Other Services a Top Concern
CHICAGO—May 9, 2011— Fieldglass, Inc., the leading technology provider to procure and manage contingent labor and services, today announced a new AberdeenGroup report found that 80 percent of companies designated "Best-in-Class" use a VMS solution, up from just 63 percent in last year's report. As a sponsor, Fieldglass is offering a free copy of the report, titled "Contingent Labor Management: The Evolution of the Contemporary Contingent Workforce," for a limited time.
Aberdeen estimates the modern contingent labor umbrella – including contingent labor, SOW-based projects, services and independent contractors – accounts for more than 22 percent of the average organization's total workforce. Because of this, it is critical for enterprises to maintain a proper level of visibility into this growing part of the labor force.
Of those surveyed, 57 percent called visibility into SOW and services spending in particular a top concern. The report offers insight into how using VMS technology can benefit those global organizations:
"VMS solutions have evolved to help companies automate management of specific service categories and projects that are tied to SOWs, as well as provide data analytics and dashboards for gaining intelligence around corporate projects, services, supplier agreements, and project costs. Best-in-Class organizations are 44 percent more likely than Industry Average enterprises to leverage VMS solutions."
In addition, Aberdeen reports that companies leveraging VMS technology are 20 and 15 percent more likely to achieve its goals and objectives related to contingent labor and SOW-based projects and services, respectively.
"As this annual research shows, the services procurement space matures year-over-year, with companies demanding better and more advanced strategies for managing their services procurement programs," said Christopher Dwyer, research analyst, Aberdeen. "Companies like Fieldglass stay ahead of their customers' needs to provide efficient solutions that truly enable better workforce management."
Aberdeen surveyed more than 200 companies between March and April 2011 to determine their intentions, strategies and challenges with managing contingent labor and services. The firm also conducted interviews with select respondents.
ABOUT FIELDGLASS, INC.
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 serves Global 2000 firms in nearly 70 countries. Customers such as Johnson & Johnson, Monsanto, salesforce.com and GlaxoSmithKline realize greater efficiencies, control spend, improve quality and enforce compliance. For more information, visit www.fieldglass.com.
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