Top wealth manager transforms workforce with global VMS solution

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 managed service provider (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.

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 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 two 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.