S imply stated, yet extremely wise words. It is clear that businesses can’t maintain the status quo while the marketplace around them is in constant flux; Players in the contingent labor industry are no exception.
“What’s dangerous is not to evolve”.― Jeff Bezos
For example, consider the relationship between VMS vendors and MSPs in the contingent labor industry. In the not so distant past, VMSs and MSPs acted independently throughout the new business process. They were also agnostic – quite careful not to play favorites. But that’s not what customers are looking for today; they are looking to their MSP and VMS partners to be more strategic and to jointly deliver more specific value. Customers want clear counsel on the best program decisions and the underlying rationales. They want insights, not noncommittal answers. They want their VMS and MSP providers to be innovative and ready to engage at a deeper level from the earliest stages of implementation.
To meet these evolving customer needs, the relationship between vendors and MSPs has also evolved. Just as Darwin observed species that “learned to cooperate,” MSP and VMS providers have found plenty of common ground and through engaged cooperation, all parties (including customers) are benefiting. When MSPs and VMSs are aligned, the combination of strong, innovative VMS technology and experienced, relevant MSP services creates a value proposition for the customer that is more strategically aligned to the customer’s business objectives. The message to the customer is clear: “We are in this together from the beginning and through the entire life cycle of our relationship with you. Together, we can provide the best cohesive solution to fit your needs.” It’s a strategic message unlike the tactical messages typically communicated in the past.
Are you going to work with the same VMS or MSP every time? Of course not. You look at the opportunity at hand and determine your top choice to provide the best possible solution for each individual case. The critical next step is to commit to each other for the entirety of that opportunity. The key is to make this decision early and be coordinated from the beginning. The VMSs and MSPs that commit to each other and the customer early on will enable mutual success.
The IQN Ecosystem and our MSP partnerships help global companies make contingent labor management more efficient, uncovering opportunities while also mitigating risks. For information about the future of the VMS and MSP relationship, follow this link to learn more.