Many a business school campus has the distinction drawn between those who can do math and those who cannot! While the former go on to specialize in quant-based topics like finance, the latter are expected to move into HR. So, the obvious inference is undisputable – HR is averse to metrics and numbers and all attempts to quantify the aspects of their work with people. Wrong! HR today is all about strategy and value provided to business and impacting the bottom line with visionary planning of workforce utilization and management. This is exactly why a whole lot of business analytics and intelligence are built in to today’s MSP solutions to provide structured business intelligence far transcending the earlier practice of tracking immediate benefits like cost savings and control on rogue spend etc.
Today, MSPs deliver spend management information on contingent workforce programs as well as SOW, and other programs involving non-traditional staffing modes with analyses of the organizational transactions, providing insight into aspects which transcend fill rates and spend-to-budget ratios to encompass industry best practices with benchmarking. While analyzing program performance, bill rate management and workforce planning, the solution isolates and shares the trends in the data, improving the insight into the interventions that may be required.
The reports are presented in standard formats which track all the key metrics and ratios which are usually tracked by the industry with customizable interfaces across a cross-section of enormous amounts of transactional data warehoused by the VMS with an option of instant access thrown in!
These features go a long way to make many a CW manager to recognize and opt for the tremendous value offered by MSP solutions.
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