success story
The world largest global wealth manager, operating in more than 50 countries
Contingent workforce program expansion provides global visibility and local flexibility in 15 countries
- Industry
- Financial Services
- Client Since
- 2011
- Category
- Contingent Staffing, & Regional VMS
The challenge
This global financial institution needed a better way to source and manage its growing and decentralized extended workforce. They wanted a technology solution configured and managed globally with the ability to work with region-specific MSP partners and ensure full compliance with local laws and business practices. At the same time, they needed control that could be scaled in a way that was cost-effective for managing small numbers of contingent workers in a variety of localities.
Fully localized VMS solution:
(with 3 MSPs)
UK, Switzerland, and US
Regional VMS solution:
Asia (10 countries)
Europe (2 countries)
The solution
Focusing on contingent workforce visibility, compliance, and cost control, the client first implemented Beeline’s vendor management system (VMS) software solution in three separate geographies, each operated by a country-specific managed service provider (MSP). Each VMS implementation was configured individually to support local regulatory requirements, taxes, currencies, and business practices.
Determined that a more centralized approach was required to implement global best practices and achieve the company’ strategic goals, the client, Beeline, and the MSP partners transformed contingent workforce processes around a single VMS configuration, with a unified user experience, standardized processes, and consistent reporting capabilities. Working in close cooperation with the client’s on-demand talent and recruiting team and the three MSPs, our global and local teams consolidated their programs to create a VMS configuration that supported all of their requirements.
For a holistic view of their distributed on-demand workforce, the client chose Beeline’s regional hub approach to manage smaller populations of contingent workers. By utilizing the Regional VMS solution in APAC and EMEA, they now manage contingent workers across 10 Asia-Pacific localities and 2 in northern Europe. By increasing extended workforce visibility through unified reporting, the client now has much broader, deeper, and immediate insight into their global talent and spend.
The result
The client now has full VMS localization and statutory invoicing in countries with large contingent workforce headcounts combined with simplified regional invoice reporting in markets with fewer contingent workers, creating global consistency and best practices shared throughout regional programs (Americas, APAC, and EMEA). This has transformed the client’s legacy contingent workforce program into an interconnected global operation while responding effectively to changes in specific country requirements.