Is an MSP + VMS Solution Right for Me?

How can a Managed Service Provider + Vendor Management System Solution benefit my organization? When should I consider an MSP + VMS Solution?  Am I too small for an MSP + VMS Solution? Have those questions answered and learn more about how to get started when considering an MSP + VMP Solution in this article! 

How can an MSP + VMS Solution benefit my organization?   

In today’s rapidly evolving talent landscape, organizations of all sizes must reconsider how work is accomplished, including managing their expanding non-employee workforce. Clients striving for productivity and growth are particularly interested in enhancing efficiency, reducing costs and managing risks. This often leads them to explore solutions that can help them manage their contingent labor more effectively. This is where the Managed Service Provider (MSP) steps in, offering a range of benefits that can significantly improve your organization’s operations. When paired with a best-in-class Vendor Management System (VMS), this solution can benefit your organization regardless of how many contractors you have or how much you spend on contingent labor.  

When should I consider an MSP + VMS Solution?  

Implementing an MSP + VMS solution is an important decision, and your organization may stand to immediately benefit from such a solution if any of the following factors are present in your workforce today:  

  • Large or increasing volume of spend or a workforce consisting of 30+ contractors  
  • The presence of any uncontrolled costs (e.g., no set rate structure in place to govern staffing suppliers) 
  • Misclassified labor (e.g., contingent workers incorrectly classified under an SOW) 
  • A large number of staffing suppliers within the supply chain, potentially more than what is truly needed 
  • No performance tracking for suppliers  
  • Lack of contingent worker program ownership 
  • No cost control and escalating costs 
  • Lack of overall transparency and business intelligence and reporting for your workforce 
  • Organizational risk concerns such as: 
  • Co-employment 
  • Lack of consistent supplier terms or agreements 
  • Lack of compliance for worker screenings and background checks 

Am I too small for an MSP + VMS Solution? 

Many smaller companies may believe they lack the contingent labor spend to justify an MSP + VMS solution. Also, a common misconception about an MSP + VMS solution is that they are only reserved for very large global organizations. However, these are common misconceptions and do not reflect a provider’s ability to tailor solutions effectively for organizations of smaller size and scale.  

I am ready to consider an MSP + VMS Solution; what do I do now? 

Suppose you're ready to explore what an MSP + VMS solution can do for your organization. In that case, we encourage you to contact us by email at [email protected], by phone at 617-326-4000, or through our website to schedule an initial no-cost consultation. As the leading workforce solutions provider for clients in both small and mid-sized market segments, Beacon Hill Solutions offers a high-touch, high-impact approach for our first-generation and next-generation clients. Moreover, our solutions are powered by industry-leading VMS technology and are designed to be scalable, ensuring improved visibility, reduced risk, cost control and greater access to talent.  

Take the first step towards unlocking unparalleled workforce efficiency. Reach out to us today and let’s transform your organization together!