FAQs on Managed Service Programmes (MSPs)

What are Managed Service Programmes?

 

An MSP is a way for businesses to streamline the task of hiring Contingent Workers. Our Account Managers will work to take care of every step in the process, including reporting and advising on a budget, working with suppliers, change management, creating job profiles, and financial processing.

What are Vendor Management Systems (VMS)?

When you work with an MSP, you will be working with a VMS, or Vendor Management System, during the process. A VMS automates the processes associated with the MSP using software (SaaS). It collates data on candidates, hiring, and spending to give you a comprehensive overview of your situation.

Why an MSP?

There are several advantages to a managed service programme. Most importantly, it can save you time, effort, and money, while improving compliance and risk avoidance.

FAQs on Managed Service Programmes (MSPs)

What are Managed Service Programmes?

 

An MSP is a way for businesses to streamline the task of hiring Contingent Workers. Our Account Managers will work to take care of every step in the process, including reporting and advising on a budget, working with suppliers, change management, creating job profiles, and financial processing.

What are Vendor Management Systems (VMS)?

When you work with an MSP, you will be working with a VMS, or Vendor Management System, during the process. A VMS automates the processes associated with the MSP using software (SaaS). It collates data on candidates, hiring, and spending to give you a comprehensive overview of your situation.

Why an MSP?

There are several advantages to a managed service programme. Most importantly, it can save you time, effort, and money, while improving compliance and risk avoidance.

What do MSPs cost?

Most commonly, you’ll be billed for a percentage of each transaction or of your total contingent workforce spending.

How much can I save with an MSP?

Your company could realize significant savings as all suppliers will be working to an agreed rate card. You can expect to see returns of at least 5% even if you’ve already taken measures to facilitate the process yourself.

How big does my company need to be to benefit from an MSP?

Whether you have several hundred workers or several thousand, if your company spends over £2m per year total, an MSP will save you money.

Can it integrate with our technology stack?

Most technology platforms will have the ability to integrate with existing systems and software used. 

What about my existing suppliers?

We will give you the opportunity to specify how you want supplier management to be set up so you are able to continue using existing suppliers throughout. Throughout the process it is important to stress that you, the client, owns the process and all related data so you remain in full control.

Finally

Selecting an MSP (Managed Service Provider) is about forming a long lasting relationship to deliver continuous organisational improvement for the provision of temporary and interim recruitment.