Contingent Workforce Management technology is the most dynamic procurement technology market at the moment, with new types of solutions covering increasing types of specialized spend and external labor emerging across the landscape.
RALEIGH, N.C. (PRWEB) April 02, 2020
VectorVMS, a leading provider of vendor management solutions, has been recognized as a ‘Value Leader’ by leading analyst, Spend Matters. The SolutionMap report defines Value Leaders like VectorVMS as having “both strong analyst and customer scores.”
The latest SolutionMap report compares 69 procurement technology providers across 13 categories and includes more comprehensive procurement buyer personas in its new semi-annual, instead of quarterly, cycle. Rankings are determined through a series of rigorous analyses by a dedicated lead analyst and a team of supporting analysts as well as real-life customer references. These include a comprehensive capabilities-based RFI scoring process, product demos, and documentation reviews of revenue models, buyer and supplier fees, new vs. replacement customers, customer TCO, ROI and success metrics, as well as case studies.
“Contingent Workforce Management technology is the most dynamic procurement technology market at the moment, with new types of solutions covering increasing types of specialized spend and external labor emerging across the landscape,” says Andrew Karpie, Spend Matters Research Director of Services and Labor Procurement.
He added: “The Contingent Workforce & Services environment is changing in significant ways. Organizations’ use of contingent workforce and services (versus FTEs) is increasing and evolving as new sourcing and engagement models are driven by changing economic conditions AND are made possible by new technology. Established technology solution providers, like VMS providers, and new innovative solution providers, like direct sourcing platforms, are responding to new market opportunities, often taking the lead.”
The Spend Matters recognition comes soon after VectorVMS celebrated a successful first year as a standalone brand. Prior to December 2018, the company was a division of leading Integrated Talent Management business, PeopleFluent.
“We’re thrilled that both customers and analysts at Spend Matters have noted VectorVMS as a leading vendor management and contingent workforce management solutions provider. We have made great strides over the last year in advancing the product and are glad that was reflected in our scoring,” said Marc Husain, Managing Director of VectorVMS.
“SolutionMap is the great equalizer between buyers and sellers of procurement technology solutions,” said Jason Busch, Founder of Spend Matters. “It is the only benchmarking methodology that is fully transparent, considers equal parts technology analyst and customer scoring (individually and separately), and allows business users to create a one-to-one map based on their requirements to what technology vendors can provide based on demonstrated, generally available capability.”
To access a copy of the rankings report, click here.
To see VectorVMS in action, click here for a product demo.
VectorVMS, a former division of PeopleFluent, delivers software and services to help businesses optimize their contingent workforce programs. We work closely with clients and partners—drawing on 20 years of experience to combine the right people, process, and technology to design and implement best-fit vendor management solutions.
With our VMS, HR and procurement teams can control costs, maintain compliance, and drive quality and efficiency throughout the contingent labor lifecycle.
VectorVMS delivery models are the most flexible in the industry. We empower clients to manage strategic sourcing entirely in-house or through one of our many trusted managed service providers (MSPs). A third option is our Shared Managed Services (SMS) program. With SMS, we augment client resources with a team of experienced program managers who provide operational support, white-glove service, and advice on industry best practices.
A part of Learning Technologies Group plc (LTG), VectorVMS also powers a total talent ecosystem that gives clients a holistic view of their contingent and full-time workforce.
For more, visit vectorvms.com.
About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner.
Spend Matters is owned and managed by Azul Partners Inc.