Vendor Management System (VMS) technology, along with Managed Service Providers (MSP), are typically considered the two most traditional and widely-used solutions in the greater workforce management technology market. Rightfully so: each of these on their own drive services-based (MSP) and end-to-end automation (VMS) for their clients in such a way that there may never be a time when Best-in-Class organizations aren’t utilizing one of the two (or, in many cases, both) to gain visibility and control, and, of course, optimize, the way extended talent is brought into the organization and ultimately managed.
Today, the landscape looks much different than it did even a couple of years ago. The pandemic brought about revolutionary change in how executive leaders perceive their operating structures, finances, technology utilization, and, critically, their workforce. The talent acquisition arena has been permanently altered, with enterprises finding that there is so much more to engaging top-tier talent than simply filling out a job requisition and expecting candidates to flock to open roles.
“To remain competitive, businesses must brace for more dramatic changes than ever before,” said Sunil Bagai, CEO of Prosperix. “The rapidly-evolving landscape requires new solutions and ways of thinking that allow businesses to become more agile, resilient, and more capable of meeting the seemingly endless demands today’s business landscape presents.”
When we examine the talent technology market today, there are many variables that have accelerated just as quickly as those Future of Work attributes (such as remote work, hybrid workplaces, etc.) that were quickened due to the pandemic’s far-reaching grasp. Talent marketplaces and digital staffing platforms enable users with on-demand and real-time access to pre-vetted, top-tier talent that align with dozens of project- and role-based perquisites.
Direct sourcing solutions actively assist enterprises with the ability to curate known and new talent into talent communities, nurture those communities with relevant and engaging content, and ensure that all recruitment streams leverage these talent pools. “Direct Sourcing 2.0,” a concept heralded by the Future of Work Exchange as the next iteration of direct sourcing, involves the application of artificial intelligence, machine learning, and other innovative functionality to drive repeatability and scalability of core direct sourcing mechanisms.
Within 2022’s evolving world of work and talent, San Jose-based Prosperix is taking all of the above into consideration as it launches its new “VMS Network” offering. Prosperix’s core VMS solution is not just a standalone VMS platform, but rather an extended workforce management tool that enables a dynamic connection between enterprises and talent via a robust, on-demand network of suppliers, candidates, and businesses.
“When we built our VMS Network solution, we understood that providing exponentially greater access to talent would be a game changer. And that’s proving to be the case,” Sunil said. “Clients become a node in an open, connected network where their jobs are matched to a network of suppliers and talent pools. This network effect enables jobs to be filled in record time, with amazing quality, and at lower costs. Additionally, the interconnectedness of the network allows us to leverage data and algorithms in ways that were not possible with siloed VMS systems. This is revolutionary for the industry, and we are excited to be the first to bring this compelling new technology to market.”
The Prosperix VMS Network is unique in the sense that it effectively blends a fully-digital talent network (akin to what most talent marketplaces offer) with a powerful, end-to-end series of functionality that leverages modernized reporting, analytics, and intelligence that drive better business outcomes and better matches between candidates and open positions/projects.
And, on top of those features, Prosperix leverages a candidate-centric approach that provides, among other things, candidates with their own career dashboard where they can apply to matched jobs across an ecosystem of clients and stay up-up-to-date on their job applications. This is aligned with the company’s overall purpose as a technology platform: to fuel human, workforce, and business prosperity.
As we wrote about the solution in 2021 upon its rebranding: “Prosperix’s messaging is incredibly unique in today’s workforce solutions market, leading with an edge that differentiates the company from others in the space. Understanding that it is the convergence between the “human” and “technology” elements of workforce management that will help both candidates and businesses prosper in the face of continued evolution across the greater world of talent and work.”
“I don’t think any business is standing still today. Most are adapting just to survive, and those that embrace change as the norm have the potential to thrive. Our VMS Network makes it possible for businesses to achieve greater scalability, agility and resilience, so they can more easily manage the expected while being better-prepared for the unexpected. And they can do all of this while attaining extraordinary hiring outcomes,” Sunil said.
Ardent Partners and the Future of Work Exchange believe that there is still much, much more change ahead for the world of talent and work. As “The Great Resignation” continues its rampage and the “Talent Revolution” becomes a foundational element of the Future of Work movement, solutions like Prosperix will be a guiding light for enterprises that not only want to tap into the power of the extended workforce, but also leverage next-generation technology to drive workforce prosperity.
