VMSs are developing capabilities to support all contingent talent categories, manage compliance, handle invoicing and payments, provide reporting and analytics, create talent pools, and source providers and candidates. Additionally, they are enhancing their VMS solutions’ UI/UX, services procurement, total talent solutions, integration capabilities, and AI integration. In this report, we use Everest Group’s proprietary PEAK Matrix® framework to evaluate 25 VMS providers’ capabilities across two key dimensions – market impact and vision and capability. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against the competition.

In an increasingly volatile and fast-paced business environment, contingent labor is becoming a key driver of agility and specialized talent access. However, managing this workforce segment comes with challenges, including sourcing, compliance, planning, and visibility. Hence, leveraging advanced analytics and integrated technologies is essential to stay ahead. The need for data-driven, smarter, tech-enabled approaches is urgent. Organizations can gain real-time insights, optimize decision-making, and forecast talent needs more precisely by leveraging predictive and prescriptive analytics, along with technologies such as Artificial Intelligence (AI)/ Machine Learning (ML), Natural Language Processing (NLP), and Robotic Process Automation (RPA). In this Viewpoint, Everest Group explores how data-driven strategies and advanced analytics transform Contingent Workforce Management (CWM). It offers a strategic roadmap to embed analytics into CWM programs, improve efficiency, and deliver long-term value across stakeholder groups. Scope All industries and geographies Contents In this report, we explore: The rising importance of data and analytics for an effective CWM program A robust data-driven CWM program’s key components Strategies to infuse data analytics into existing CWM programs

Organizations are shifting from traditional fixed employment models to more agile, hybrid workforce strategies integrating freelancers and Independent Contractors (ICs) with full-time employees. As freelancers become more integral to business operations, enterprises require structured solutions to manage freelancer sourcing, onboarding, compliance, payments, and performance tracking effectively. Without dedicated systems, organizations face inefficiencies, compliance risks, and lost opportunities for innovation. Freelancer Engagement and Management Systems (FEMS) offer purpose-built solutions for managing the freelancer lifecycle. These platforms enable organizations to efficiently engage, manage, and pay freelancers while ensuring compliance and seamlessly integrating with business workflows. Leading FEMS providers are enhancing their platforms with improved user experiences, AI-driven matching, automated compliance management, and robust payment solutions. In this report, we evaluate 16 FEMS providers using Everest Group’s proprietary PEAK Matrix® framework, focusing on market impact, vision, and capability. The report helps buyers identify the right FEMS provider for their needs and enables providers to benchmark themselves against their competition.

The shift from traditional fixed employment models to more agile, hybrid approaches that blend permanent and contingent workers. While freelancers, or Independent Contractors (ICs), comprise the largest segment of the contingent workforce, managing this workforce category has unique challenges. Some Vendor Management Systems (VMS), Human Resource Information Systems (HRIS), and Employer of Record (EOR) platforms address specific aspects of freelancer management. However, they focus less on freelancer/IC management and often fail to deliver comprehensive solutions. Freelancer Engagement and Management Systems (FEMS) are transformative platforms that manage the entire freelancer lifecycle, including onboarding, performance tracking, compliance, and payment processing. Moreover, modern FEMS include robust sourcing capabilities and advanced freelancer/IC management capabilities. By adopting modern FEMS platforms, organizations can ensure compliance, enhance operational efficiency, and unlock innovation in a rapidly changing talent landscape. Scope  All industries and geographies Contents  In this report, we examine:  Key challenges in freelancer/IC management How FEMS streamlines freelancer/IC management FEMS platforms’ evolution FEMS in the CWM technology ecosystem Membership(s) Contingent Workforce Management Recruitment Sourcing and Vendor Management

Post-pandemic, volatile business and talent demands have compelled organizations to rethink their workforce strategies while realizing the importance of a contingent workforce. This realization is driving the expansion of the Contingent Workforce Management (CWM) / Managed Service Provider (MSP) and Vendor Management System (VMS) markets. Despite the recent economic slowdown, CWM and VMS providers continue enhancing their service delivery capabilities and advancing process digitalization. MSPs and VMSs are significantly investing in enhancing their capabilities in managing non-traditional talent acquisition categories, including services procurement, independent contractors/freelancers, and direct sourcing. Simultaneously, providers are tailoring their offerings to address the unique needs of specific client segments, such as mid-market businesses and clients in the healthcare and blue-collar industries. They also leverage generative AI, advanced analytics, and automation to build comprehensive, end-to-end CWM solutions. In this report, we evaluate the global dynamics of CWM/MSP and VMS markets, highlighting regional variations, buyer adoption trends, technology trends, and solution trends. The report also explores the market’s future direction. Scope All industries and geographies Contents In this research, we examine: Economic trends influencing talent demands CWM/MSP and VMS market size and growth CWM/MSP and VMS markets’ geographical variations Buyer adoption trends Key trends shaping the CWM/MSP and VMS markets Providers’ key investment areas Membership(s) Contingent Workforce Management Sourcing and Vendor Management

Contingent Workforce Management (CWM) providers have become essential as businesses seek effective strategies to oversee their contingent workers. Owing to rapidly changing economic environment, firms across sectors and regions, including emerging mid-market segments, prefer to hire contingent for their operational needs. Thus, CWM providers are expanding their service offerings to meet their clients' evolving demands to manage their contingent workforce comprehensively. This compendium provides accurate, comprehensive, fact-based snapshots of 27 CWM service providers / Managed Service Providers (MSPs). Each profile offers a detailed overview of the provider’s service suite, scale of operations, recent developments and investments, technology solutions, and delivery locations. The report will enable providers to benchmark themselves against competitors and help buyers select suitable providers for their requirements. Scope All industries and geographies Contents In this research, we feature 27 CWM service provider profiles and include: Company profile and scale of operations: key leaders, managed spend, active clients, workers managed, recent developments, and tools and technology capabilities Client portfolio: major clients and recently announced contracts, managed spend by geography, industry, engagement model, deal size, and type of workers managed Services procurement client portfolio: managed spend by geography and category Delivery locations: details of key delivery locations worldwide Membership(s) Contingent Workforce Management Sourcing and Vendor Management

Contingent Workforce Management (CWM) providers are becoming increasingly essential as businesses seek effective strategies to oversee their contingent workers. Companies across diverse sectors and regions, including emerging mid-market segments, are turning to contingent labor to address their operational needs. Consequently, CWM providers are expanding their service offerings to meet their clients' evolving demands to manage their contingent workforce comprehensively. The expanded range of contingent talent solution offerings includes direct sourcing, services procurement management, total talent management, and independent contractor management. Providers are also enhancing their capabilities by investing in gen AI and digitizing workflows to improve efficiency and accuracy. Additionally, they are boosting their consulting expertise to deliver tailored, strategic insights that support enterprises' unique needs. This PEAK Matrix® assessment will help key stakeholders – buyers, service providers, and technology providers – understand the MSPs / CWM and services procurement provider landscapes, evaluate providers’ capabilities, and identify the Leaders, Major Contenders, Aspirants, and Star Performers in the market. Scope All industries and geographies Over 2,000 CWM/MSP and services procurement deals Coverage across 36 MSPs / CWM providers and 19 services procurement providers Contents This report explores the MSPs / CWM and services procurement provider landscapes and analyzes the performance of 36 MSPs / CWM providers and 19 services procurement providers and includes: MSPs / CWM provider PEAK Matrix® and Star Performers for 2024: classification of providers as Leaders, Major Contenders, and Aspirants based on Everest Group’s proprietary PEAK Matrix® framework Services procurement / SOW PEAK Matrix® and Star Performers for 2024: classification of providers as Leaders, Major Contenders, and Aspirants based on Everest Group’s proprietary PEAK Matrix® framework Everest Group’s analysis of providers: overall CWM/MSP and services procurement capability assessed by evaluating the providers along seven dimensions – market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprint, and vision and strategy Membership(s) Contingent Workforce Management Sourcing and Vendor Management

The Vendor Management System (VMS) – Provider Compendium offers a detailed and fact-based overview of VMS technology providers’ offerings and capabilities. In this compendium, we provide factual profiles for 18 VMS providers, covering their company overviews, product capabilities, recent investments and announcements, key clients and partnerships, recent significant developments, and client portfolios across geographies, types of workers, industries, job families, and buyer sizes. Additionally, the report outlines product functionalities across modules and their capabilities. The compendium will enable buyers to assess the providers based on their desired set of capabilities, while technology providers will be able to benchmark their capabilities against their competitors. Scope All industries and geographies Geography: Global Contents In this report, we feature 18 VMS technology provider profiles and include: Company profile and partnership overview: company and product overview, key leaders, recent investments and announcements, and Managed Service Providers (MSPs) and other key partners Market adoption: managed spend, major clients, number of FTEs, and countries served Client portfolio: managed spend by geography, types of workers managed, and job family, as well as active clients by buyer size, buyer industry, and geographic scope Tools and technology capabilities: key capabilities and offerings across various modules and enhancements Membership(s) Contingent Workforce Management Sourcing and Vendor Management

The Vendor Management System (VMS) is gaining importance as organizations seek solutions to manage their contingent workforce. Companies across industries and geographies, including previously untapped segments like the mid-market, now rely on contingent workers to meet business demands. As a result, VMS technology providers are developing capabilities to meet clients’ unique requirements and comprehensively address end-to-end Contingent Workforce Management (CWM) needs. VMSs are developing capabilities to support all contingent talent categories, manage compliance, handle invoicing and payments, provide reporting and analytics, create talent pools, and source providers and candidates. Additionally, they are enhancing their VMS solutions’ User Interface (UI) / User Experience (UX), services procurement, total talent solutions, integration capabilities, and AI integration. In this report, we use Everest Group’s proprietary PEAK Matrix® framework to evaluate 22 VMS providers’ capabilities across two key dimensions – market impact and vision and capability. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against the competition. Scope All industries Geography: global, North America, and EMEA This assessment is based on Everest Group’s annual RFI process, the proprietary contractual database of 22 VMS providers, provider public disclosures, and Everest Group’s internal intelligence, interactions with enterprise buyers, and an ongoing analysis of the market Contents In this report, we: Categorize VMS providers as Leaders, Major Contenders, and Aspirants Examine the VMS market’s competitive landscape Study providers’ key strengths and limitations Membership(s) Contingent Workforce Management Sourcing and Vendor Management

Digitization and automation are driving the talent landscape of the Banking, Financial Services, and Insurance (BFSI) industry. The sector is slowly moving away from traditional legacy systems and is embracing next-generation technologies to better serve their customers. This shift is not only reshaping operational dynamics but also changing the skills demand towards a blend of technology and financial expertise. However, talent demand-supply gaps and retention challenges are hindering this transformation. Today, many forward-looking BFSI organizations are leveraging data-driven approaches, new sourcing methods, and advanced technologies to build a resilient and agile workforce. They are increasingly utilizing Managed Service Providers (MSPs) and Recruitment Process Outsourcing (RPO) services to build their talent strategy, acquire different types of workers, and effectively manage talent acquisition programs. In this viewpoint, we explore avenues through which BFSI organizations can future-proof their talent strategies and adapt to the evolving business landscape. Scope Industry: BFSI Geography: global Contents In this viewpoint, we explore the emerging trends that are shaping talent strategies in the BFSI industry as we address the following key questions: How is the talent landscape of the BFSI industry evolving? What are the major challenges and underlying trends shaping the BFSI industry in terms of acquiring and managing talent? How can BFSI organizations future-proof their talent strategies? Membership(s) Contingent Workforce Management Contingent Staffing Recruitment Outsourcing Excellence