Almost 60 per cent of businesses believe that integrating their VMS, spend management solution and HR system is a key component of their total workforce management strategy, according to new research.
The report, conducted by Ardent Partners and underwritten in part by SAP Fieldglass, also found that 44 per cent of companies feel they lack the tools, skills and expertise to put a plan into action.
VMS technology typically brings together information on compliance, spend, suppliers, services and talent.
A key finding from the report is the notion that, for enterprise technology, “integration equals innovation”. Specific to spend management and ERP integration, the report states that businesses rely on the visibility that these integrations can bring “to understand how current and future reliance on non-employee workers has an impact on the bottom line”.
“These findings dovetail with what we’re seeing in the marketplace – that enterprises see the value of total talent management but may be unsure of how to develop a comprehensive program,” said Rob Brimm, president, SAP Fieldglass. “But the industry is changing. As external labor and services usage brings forth new talent ‘ecosystems’ and technology innovation moves the industry ahead, we see the future for total workforce management programs continuing to get brighter in the years ahead.”
The report also outlines the impact of technology in supporting contingent workforce management programs, innovation in talent management strategies, and the 2016 outlook for contingent workforce technology.
The report can be downloaded here.