Contingent Workforce Management (CWM) and Vendor Management System (VMS) State of the Market 2023 – Adapting to the Ever-evolving Economic and Business Environment
State of the Market Report
9 Jan 2024
by
Krishna Charan, Vignesh Kannan, Soumya Bansal, Akash Shukla
The pandemic made enterprises realize the importance of contingent workforce, 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 have continued to enhance service delivery capabilities and advance process digitalization.
With evolving enterprise expectations, providers are focusing on Total Talent Acquisition (TTA), and newer talent acquisition models such as services procurement, independent contractors / freelancers, and direct sourcing. Additionally, providers are prioritizing generative AI, advance analytics, and automation to develop end-to-end CWM capabilities.
Scope
All industries and geographies
Contents
In this report, we:
Study the evolution of the CWM/MSP and VMS markets
Discuss location-based differences in the CWM and VMS markets
Examine buyer adoption trends
Assess key trends shaping the future of the CWM and VMS markets
In recent years, the Multi-country Payroll (MCP) solutions market has expanded steadily. The payroll function is transforming from a transactional to a strategic role, moving beyond traditional expectations of cost optimization to enhance employee…
