IQNavigator and Work Market Form Strategic Alliance to Transform How Global 2000 Companies Source and Manage Contingent Labor
Only Independent Provider of Workforce Management Solutions Helps Companies Manage Freelancers and Non-Employee Workers
DENVER and NEW YORK, February 3, 2015 – IQNavigator, the leading provider of non-employee workforce management solutions, today announced a strategic alliance with Work Market, the leading Software-as-a-Service (SaaS) solution that helps companies find, manage and pay their freelancers and independent contractors from a single platform. The alliance addresses the emerging need for better total workforce management by bringing together the two leading technology innovators in the non-employee labor market. With their combined technology and expertise, customers will more efficiently source and manage highly-skilled, pre-qualified workers from a wider range of sources.
According to a recent Gartner research report (1), both Human Capital and Procurement analysts recommend that enterprises “Examine your current VMS vendor’s road map to see if it’s making investments in specific features needed for freelance marketplace support and, if not, lobby the vendor for change or evaluate a new vendor who can support your changing needs.” IQNavigator and Work Market have demonstrated their market relevance and leadership by developing this alliance to deliver a major milestone in creating a true, unified talent management solution.
In a separate study, MBO Partners states(2), “Contingent workers are expected to comprise 50 percent or more of the U.S. workforce by 2020, with the freelance component growing significantly beyond today’s estimated 30 million freelancers in the U.S.” The report goes on to predict that, “organizations will tap into this expanding workforce over time, in part because it will become a larger component of the available talent pool, but also to take advantage of new cost models, improve organizational agility and gain access to new sources of highly specialized skills from across the globe.” The strategic alliance between these two market leaders will enable companies to capitalize on these shifts in the labor landscape.
“In today’s highly competitive global marketplace, employers must identify and capitalize on every available talent source as they deal with an aging workforce readying for retirement and younger workers seeking greater work-life balance,” said Joe Juliano, president and CEO, IQNavigator. “By partnering with Work Market, our customers can embrace a more flexible talent management strategy that optimizes their labor costs and ensures ready access to multiple channels of the best talent. IQNavigator has been the industry’s leading innovator for more than fifteen years, and we continue that leadership by being the first and only independent provider that offers a comprehensive solution capable of managing freelancers and contingent workers.”
“The world’s largest businesses are increasingly turning to freelancers to improve labor cost variability, accelerate the pace of innovation and outperform fiercely competitive rivals. Yet, an effective strategy for hiring and managing freelance and contract labor is dependent upon having the right structure and processes in place,” said Jeff Wald, co-founder and president, Work Market. “Technology is key to creating a comprehensive, successful – and compliant – approach, which is why we are excited to partner with IQNavigator on solutions that enable any employer to manage all non-employee workstreams seamlessly.”
IQNavigator’s leading vendor management system (VMS)—with more than 5.2 million users managing more than $19.9 billion in annual spend—coupled with Work Market’s industry-leading freelance management system (FMS), enables customers to leverage the strengths of both of these technologies, as well as the collective expertise found at IQNavigator and Work Market.
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IQNavigator is the leading independent technology provider of Vendor Management System (VMS) software for Global 2000 companies. IQNavigator’s products enable enterprises to intelligently manage and optimize complex services procurement and contingent workforce programs. Since 1999, IQNavigator has been delivering procurement visibility and predictability, helping corporate leaders around the globe increase profitability, mitigate risk and compete more effectively. For more information about IQNavigator and its software, visitwww.IQNavigator.com.
About Work Market
Work Market is the leading enterprise-class platform for the management of contract and freelance talent. Businesses of all sizes use the Work Market platform to manage the complete lifecycle of their freelance talent, including the selection and engaging of contracted resources, the deployment and ongoing management of labor at scale and all associated payment and reporting processes. Our solution allows businesses to increase labor productivity and enhance work quality while dramatically reducing costs. To learn more visithttp://www.workmarket.com. Work Market has trademarked the phrase “Find Verify Engage Manage Pay Rate” and the Work Market FMS Framework is patent pending.
To learn more about this strategic partnership, please visit http://iqnavigator.com/how-we-do-it/partners/iqn-alliances/ or www.workmarket.com/partners/iqnavigator/.
1 Gartner Research, January 2015, “Getting Ready for the Next-Generation Workforce and the Impacts of the Freelance Economy”
2 MBO Partners, 2014, “2014 State of Independence in America Report”
For media inquiries, please contact:
Victor Chayet, IQNavigator
Diego Lomanto, Work Market