3 Crucial Signs Its Time for Your Company to Look into an MSP

What is an MSP? 

An MSP (Managed Services Provider) acts as a strategic business partner by managing the relationship between your organization and its contingent or non-FTE workforce. At TCWGlobal, this means creating customized service offerings that address all your contingent workforce needs. These services include talent acquisition, supplier management, systems-based integrations, and consolidated invoicing – plus everything in between. Our MSP programs are designed to alleviate your contingent workforce challenges, streamline processes, and provide trust and transparency in what was once a complex part of your business. 

So, what are the top three signs it may be time for your organization to consider utilizing an MSP? Let’s get into it! 

#1 You can’t easily answer the question, “How much does my organization spend on contingent workers?” 

The contingent workforce space is usually far more complex than it gets credit for. Calculating spend across contingent worker types – be it payrolled services, agency recruited resources, 1099 Independent contractors, or SOW workers – can be a challenge without the help of a centralized VMS system overseen by a seasoned MSP. TCWGlobal utilizes our proprietary VMS system StaffingNation and years of MSP industry experience to provide you with full transparency and visibility into your contingent workforce spend via comprehensive reporting and analytics. 

#2 You’re caught up in supplier madness. 

If your organization is utilizing dozens of recruiting suppliers to source contingent talent without a centralized process through an MSP, you are likely seeing varying contracts, billing rates, conversion terms, and invoicing terms for every supplier.  This not only places stress on your internal stakeholders for management of the madness, but it also makes you vulnerable to price gouging and increased compliance risks.  As your MSP, TCWGlobal builds out a tailored contractual agreement that all your suppliers will operate under, standardizing rates and terms across your entire supplier pool and allowing everyone in your organization to utilize contingent labor confidently from a cost and compliance perspective. 

#3 You want to avoid time and invoice nightmares. 

Every supplier uses their own timekeeping systems, approval steps, and invoicing processes. This results in potentially dozens of steps and systems for managers and finance departments to navigate, wasting time and energy trying to untangle the timecard and invoice webs. TCWGlobal’s MSP provides clarity and efficiency by centralizing timekeeping and consolidating invoicing. With our system, every contingent worker’s time and approvals are in one place, and every invoice for your contingent workforce comes from one company – TCWGlobal. 

Does this sound like you? TCWGlobal’s MSP can help! 

If any of these challenges seem to be hitting close to home for your organization, reach out to hello@tcwglobal.com to learn more about how TCWGlobal’s MSP can help you maximize how you utilize contingent labor.