OneBeacon™ Case Study
Implementing 1st-Generation MSP for BioPharma with Booming Non-Employee Population
Client Background
- Industry: Biopharma
- HQ: Cambridge, MA
- Founded: 2008
- IPO: 2013
- HiringManagers: 64
- Spend: $12 million
- Mission: To prolong and improve patients’ lives and health outcomes
Challenge
Our client, a leading biopharma company headquartered in Cambridge, MA, faced significant challenges in managing its contingent workforce amidst rapid growth. With 47 suppliers and over 150 invoices processed weekly, the company’s decentralized operations and inadequate reporting systems hindered efficiency and cost control. Hiring managers were burdened with onboarding and offboarding contractors without a standardized process, while Accounts Payable struggled with reconciling invoices against internal financial guidelines. The complexity of managing numerous suppliers further exacerbated these challenges, hindering effective talent management. Furthermore, our client’s spend category had grown well above a manageable level for our client’s internal Procurement and HR teams. These decentralized and inefficient processes and inconsistent contract terms resulted in above-market rates and conversion terms.
Solution
To address our client's needs for enhanced workforce visibility, streamlined processes, and cost control, we executed a comprehensive strategy. First, we identified, trained, and deployed two dedicated on-site team members to oversee the implementation, go-live, and ongoing execution phases. Additionally, we committed to expanding our program management team to support the client's future growth.
After identifying two on-site team members, we developed a robust talent utilization plan tailored to sustain the client’s anticipated growth trajectory. Simultaneously, we formulated a supplier strategy aimed at engaging top-tier, high-performing suppliers. Our team provided personalized, white-glove support to suppliers, enhancing communication, and fostering stronger partnerships. We also introduced a proactive talent pipeline strategy to ensure suppliers consistently maintained a pool of qualified candidates.
Furthermore, we deployed a highly adaptable vendor management system (VMS) capable of managing dynamic changes within a scalable managed service provider (MSP) framework. This system empowered hiring managers and suppliers with real-time visibility, on-demand reporting capabilities, and budgeting tools crucial for efficient decision-making.
We also established a standardized process for aligning non-employee resources with project-specific accounting guidelines. This initiative streamlined invoice processing and enhanced financial transparency.
Finally, leveraging our deep market insights and effective MSP management practices, we rationalized pay and bill rates across all vendors. This approach aimed to ensure competitive rates while maintaining cost efficiency.
The Results
Our tailored approach led to significant outcomes and positive impacts across multiple fronts. From day one, our on-site team cultivated robust relationships with talent, suppliers, and client stakeholders, ensuring seamless collaboration and alignment throughout the program. We delivered on schedule with 100% completion of milestones, demonstrating our commitment to punctuality and operational excellence. All contracted talent remained engaged and operational under their respective suppliers, ensuring uninterrupted delivery of mission-critical projects, and maintaining business-as-usual efficiency. Furthermore, through meticulous identification and onboarding processes, we successfully integrated high-performing suppliers, achieving exceptional levels of supplier adoption. Proactive communication of forecasted orders enabled suppliers to efficiently manage their resources and deliver high-quality talent across various skill categories and geographic locations, meeting 100% of our client’s needs. Our robust talent engagement initiatives yielded tangible benefits, including reduced attrition rates, increased redeployment opportunities, higher conversion rates from contingent to permanent roles, and amplified talent referrals.
Additionally, leveraging our expertise in VMS administration, we automated workflows, streamlined approval processes, and provided hiring managers with centralized access to critical data such as timekeeping and real-time reporting. We also implemented standardized pay and bill rates, which enhanced financial visibility, generated substantial cost savings, and facilitated more predictable budget planning for our client.
These achievements underscore our dedication to delivering comprehensive solutions that optimize operations, elevate supplier performance, and maximize workforce efficiency, ultimately driving sustainable growth and success for our client in the competitive biopharma industry.
Why They Chose Us
After a highly competitive evaluation process, our client chose OneBeacon as their MSP provider because we offered a cross-functional project team that included HR, Sourcing, IT, key functional leaders, and an executive sponsor. Additionally, our MSP offerings featured a tailored and extensive solution that integrated high-caliber suppliers to ensure the provision of top-tier talent. Furthermore, our approach included the implementation of automated, efficient processes facilitated by the VMS.
In their own words, the driving factors behind their decision to partner with OneBeacon included:
- High-touch model: On-site Account Managers engaging with Hiring Managers and Staffing Agencies
- Highly skilled and experienced management and implementation teams
- Excellent references
- Private company that is focused on client satisfaction and that can scale with us
Requisition distribution is limited to my company’s strengths and core competency.
We receive feedback on every candidate submitted. Keeps our relationships with contractors strong.
Their unique approach to the supplier community makes them the best MSP we have worked with in our organizations' history. I would strongly recommend them to anyone looking for an MSP solution.
MSP program manager is readily available. They are committed to the success of not only the client but the agency as well. They understand that a more engaged agency like [ours] means greater success and quality of candidates for the client.
