The Vendor Management System (VMS) is gaining importance as organizations seek solutions to manage their contingent workforce. Companies across industries and geographies, including previously untapped segments like the mid-market, now rely on contingent workers to meet business demands. As a result, VMS technology providers are developing capabilities to meet clients’ unique requirements and comprehensively address end-to-end Contingent Workforce Management (CWM) needs.
VMSs are developing capabilities to support all contingent talent categories, manage compliance, handle invoicing and payments, provide reporting and analytics, create talent pools, and source providers and candidates. Additionally, they are enhancing their VMS solutions’ User Interface (UI) / User Experience (UX), services procurement, total talent solutions, integration capabilities, and AI integration.
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Vendor Management Systems (VMS) PEAK Matrix® Assessment 2024
What is in this PEAK Matrix® Report
In this report, we use Everest Group’s proprietary PEAK Matrix® framework to evaluate 22 VMS providers’ capabilities across two key dimensions – market impact and vision and capability. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against the competition.
Contents:In this report, we:
- Categorize VMS providers as Leaders, Major Contenders, and Aspirants
- Examine the VMS market’s competitive landscape
- Study providers’ key strengths and limitations
Scope:
- All industries
- Geography: global, North America, and EMEA
- This assessment is based on Everest Group’s annual RFI process, the proprietary contractual database of 22 VMS providers, provider public disclosures, and Everest Group’s internal intelligence, interactions with enterprise buyers, and an ongoing analysis of the market
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What is the PEAK Matrix®?
The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.
