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In a frictionless world where labor, information and money can move easily, cheaply and almost instantly, today’s businesses are beginning to re-think their workforces and their operating models. As businesses continue to invest in non-traditional labor, they are facing the relatively newer challenge of managing hundreds and thousands of independent professionals. Historically, traditional Human Capital Management software and Vendor Management software solutions have not been equipped to address the nuances of contract work, which led to a newer wave of enterprise software: Freelance Management Systems.
The advent of the Vendor Management System was at one time a disruptive entrant into the contingent markets. Today, however, they will need to adapt to the new age players such as e-Staffing services, temp labor marketplaces and freelance management systems.