Case Study
Leading Tech Firm
The Situation
A leading technology company had engaged an MSP to manage their contingent workforce program, seeking to streamline
processes, control costs, and ensure compliance.
Initial MSP success masked underlying issues that surfaced over time. Their inability to innovate, adapt, and control costs led to a decline in performance and limited visibility into program metrics. The MSP did not actively manage relationships with staffing vendors, leading to inconsistent performance and compliance issues.
Recognizing these challenges, the technology company decided to seek a new MSP partner who could reinvigorate the contingent labor program with a focus on continuous improvement, innovation, and strategic cost management.
The Solution
Upon taking over the MSP program, Workspend initiated a comprehensive assessment to identify the root causes of the issues. The key steps were:
• Streamlining Processes: Implemented our customized end-to-end process, leveraging a VMS to streamline the selection of contingent workers, assignment creation, invoicing, and off-boarding.
• Cost Management: Introduced robust cost management strategies and rate cards, found a lower-cost EOR, supplier rate management, and tax compliance.
• Innovation and Technology: Integrated the latest tech into the MSP program, including advanced VMS features.
• Supplier Management: Reviewed the existing vendor relationships, introduced a structured vendor referral and RFI process and regular vendor training sessions.
• Continuous Improvement: Identified areas for enhancement and provided seamless payroll management and compliance services.
• Building a Maturity Model: It included a roadmap for future service enhancements and aimed to ensure that all nonemployees were included in the MSP program.
It outlined key services such as Statement of Work management, Resource Tracking and Global Expansion of the MSP program.
Final Results
Enhanced Efficiency: 30% reduction in the time required to onboard and manage contingent workers. 25% reduction in time-to-fill.
Cost Savings: 20% reduction in administrative costs and improved budget management.
Improved Visibility: The advanced VMS features provided the client with real-time insights and comprehensive reporting.
Stronger Supplier Relationships: Improved supplier performance, compliance, and engagement, resulting in better service delivery.
Continuous Innovation: Identifying and implementing improvements led to sustained enhancements in the program’s performance.
Client Satisfaction: Net Promoter Score (NPS) increased to 8.5, reflecting a high level of satisfaction for our work.
You can’t measure what you don’t know
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