Workspend infographic
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Workspend specializes in managing indirect workforce fulfillment for businesses and governments worldwide, aiming to reduce costs associated with indirect talent. The company provides a management framework that streamlines the sourcing and administration of indirect labor, addressing inconsistencies and reducing overheads. With tools like SimplifyVMS, organizations can enhance transparency, consistency, and compliance in managing their indirect workforce.
Workspend infographic
- 1. Workspend: How It Works ©Workspend Inc. 2013 Published September 2013 Tel. +1 201 524 9600 www.workspend.com Permanent Contracted About Workspend We’re experts in reducing indirect workspend. We work with business and governments around the world through our offices in North America, Europe, Asia and the Middle-East. Our industry knowledge and technology innovation allow our teams to challenge conventional thinking and overcome obstacles to deliver exceptional results. The total cost of operating your indirect workforce may be bigger than you think. ! How much are you spending on indirect talent? Got a figure in mind? Direct Contractors Staffing Agencies Outsourcers Whatever name you give it, any person that fulfils a delivery role for your organization that you pay for is indirect talent. Indirect Contracted In some organizations, 1 in 4 workers are indirect. The proportion of indirect labor in workforces is growing as organizations seek greater agility and suffer skills shortages… We’re experts in managing indirect workforce fulfilment, helping financial managers control indirect talent sourcing spend no-matter what the source. ? What does Workspend do? Supplier enrolment, Invoicing, time-sheets and expense administration are overheads we don’t need Our supplier contracts vary, exposing us to avoidable cost and risk It’s unclear whether we get value for money from all vendors and contractors No doubt we could improve our business agility if we were confident of the risk and cost of sourcing indirect talent We install a coherent management framework between workforce buyers and sellers to create a common pipeline for talent sourcing and administration How We Work Win:Win results we deliver 2.91 million people are employed by staffing companies every business day 11.5 million temporary and contract employees are hired by U.S. staffing firms over the course of a year 79% of staffing employees work full time, virtually the same as the rest of the work force Source: American Staffing Association SimplifyVMS is our instant-on workforce analytics and supplier portal used to manage the entire life- cycle of indirect workforce vendor management and administration. Organizations that source their indirect labor through Workspend consistently achieve the following rewards: -- Remove • Contract inconsistencies • Unreasonable payment terms • Regional variations in supplier management and administration - Reduce • Vendor-related charges • Employer risk/non-compliance • Administration overheads • Unbudgeted costs • Excessive MSP charges + Add • Instant-on vendor management and administration • Formalized email approval protocols • Consolidated billing: One invoice for all indirect sourcing actvity ++ Grow • Transparency through real-time drill-down analytics • Access to on-demand talent • Reliability/consistency of workflows • Background checks/audit capability TOTAL COST OF INDIRECT $?