According to SIA, the percentage of companies with over 1,000 employees who use a VMS (vendor management system) expanded from 50% in 2009 to 80% in 2022
SIA also estimates that global market spend for VMS grew 26% from 2020 to 2021, reaching $226 billion, and will show high single-digit growth for 2022.
As buyers become more sophisticated and demanding, they expect more from their VMS than simply cost savings and workforce visibility. According to this year’s survey, users find the greatest value of VMS to be process efficiency (29%). They also rate the value of risk reduction (20%) and talent quality (20%) nearly as high as cost control (22%).
Also in the report:
- Year-by-year cost savings delivered by VMS
- Summary of key innovations and investments
- Geographic footprint of VMS providers
Download this complimentary industry report to:
- Read about key trends in the VMS marketplace
- Learn the differences between “pure-play” VMS solutions and other VMS providers who are affiliated with ERP or Human Capital technology providers, MSPs, or staffing suppliers
- Compare strengths and weaknesses of VMS providers based on customer perception and SIA performance evaluation criteria
NOTE: Due to the timing of Beeline’s acquisition and incorporation of Utmost, Beeline was unable to demonstrate its functionality for the 2022 report, so Beeline was not included in the “SIA VMS Provider Evaluation” section. Beeline will provide a demonstration for evaluation in SIA’s 2023 report.
For the latest information about the global VMS landscape, download this Industry Report.
