Contingent workers have become an essential part of day-to-day business. This has been shown as 80% of large companies are using flexible workforce setups, according to Gartner. As a result, many organisations are turning to Managed Service Providers (MSPs) to help manage their temporary workforce. But what exactly are MSPs, and what are the pros and cons?
what are Vendor-neutral MSP?
Vendor-neutral MSP are third-party organisations that offer a range of outsourced services to businesses. These services can span various domains, including IT infrastructure, cybersecurity, compliance, human resources, and more.
For temporary workers, Vendor-neutral MSP can provide specialised support in managing technology infrastructure, data security, regulatory compliance, and other critical aspects of their operations.
"Organisations that require the services of an Vendor-neutral MSP should make sure they choose a provider that offers transparency and visibility across their entire workforce to drive improved business decisions."
Benefits of engaging with Vendor-neutral MSP
- Streamlined recruitment process
An Vendor-neutral MSP can provide the end-to-end management of your temporary worker/contractor by handling tasks such as onboarding, time and attendance tracking, payroll management, and contract management. Efficiently managing these administrative aspects, it allows you to focus on the core responsibilities and ensures smooth operations for your contingent workforce.
- Access to expertise knowledge
Vendor-neutral MSP are experts in their respective fields and possess specialised knowledge and experience that can be invaluable. They keep up with the latest trends, technologies, and regulatory changes, allowing them to leverage their expertise without diverting internal resources.
- Improved efficiencies
An Vendor-neutral MSP gives you a single point of contact which means your policy around hiring contingent workers can become as simple as “log onto this system or phone this one supplier for any contingent requirements you have”. This makes the hiring process much simpler and easier to be compliant with your internal processes.
Invoicing also become more efficient and simpler. Instead of multiple invoices from multiple suppliers, you can have one monthly invoice, supported by an electronic file, that can be uploaded straight into your finance system. Invoices will no longer need to be manually uploaded to your payment systems, nor will you need dedicated staff to deal with queries on those invoices.
- Cost savings
Outsourcing certain functions to Vendor-neutral MSP can lead to cost efficiency. Instead of hiring and training in-house staff to handle specific tasks, you rely on the expertise of Vendor-neutral MSP, often at a lower overall cost.
- Scalability and flexibility
Vendor-neutral MSP are designed to accommodate the changing needs of businesses. As you grow or face fluctuations in demand, Vendor-neutral MSP can easily scale their services up or down, ensuring optimal support without the need for major internal adjustments.
Considerations of Vendor-neutral MSP
- Location - The company you choose might not be nearby.
If you opt for a managed service provider that’s based abroad, you may struggle to resolve any issues outside of where you are based. Luckily for us, we’re based in the UK but offer our managed service platform internationally.
- Integration challenges
Integrating Vendor-neutral MSP services with existing systems and processes can be complex. Effective communication and coordination are essential to ensure a seamless transition and ongoing collaboration.
- Data security and confidentiality
Sharing sensitive workforce data with an Vendor-neutral MSP can introduce potential security and confidentiality risks. You must ensure that your data is handled and protected appropriately.
How can we help?
Organisations that require the services of an Vendor-neutral MSP should make sure they choose a provider that offers transparency and visibility across their entire workforce to drive improved business decisions.
At Giant Precision, we deliver engaging, personalised candidate and hiring manager experiences. We can help manage your chosen recruitment providers whilst still ensuring you have visibility to your spending and managing your workforce effectively. Our all-inclusive proprietary software and managed services platform allows for systematic and compliant onboarding, timesheets, payroll, payments, and other HR functions in the UK and internationally.
