cdooley

Birth of VMS... Circa 1995...

Blog Post created by cdooley Advocate on Jul 12, 2016

Compensation Data Facts - What's What

in Compensation

 

shutterstock_99323996.jpg

 

DID YOU KNOW?

 

Staffing History continued...

Unhappy with the staffing industry (VOP) solution and without the internal resources to manage spend, AT&T spinoff Lucent Technologies selected Volt Services Group to manage their $1 billion in global contractor spend. Volt offered "A Procurement Solution," that included 50+ buyers on-site at Lucent (VMS software had not been developed yet). The buyers were responsible for processing all payments and billing from the global vendors who supplied contractors in addition to negotiating bill rates on Lucent's behalf. Contractor spend was significantly reduced and Volt was paid a transaction fee on total billing in addition to a percentage of negotiated savings. The program was an incredible success and brought Lucent over $100 million in savings. Volt went on to build a world class VMS platform with spin off company "ProcureStaff" and other firms, such as Computer Horizons created Chimes, MSXI and GRI introduced the solution to the auto industry.

 

PeopleTicker provides Market Intelligence to Human Resources professionals and Procurement teams helping organizations benchmark their existing suppliers, and design more cost effective new programs that maximize both full time regular and contingent labor spend. As the need for skilled labor increases throughout the world, companies need to know “how much” when hiring or procuring new talent. Annual salary survey technology is ineffective in providing true compensation market rates that take into account changes in employment demand by geography or industry. By combining big data aggregation with crowd-based validation through its SkillsVillage eco-system of experts, PeopleTicker provides the most accurate and current compensation information available in the market today.

Outcomes