Managed Service Provider (MSP)

For large corporations, it has become increasingly difficult to find the right talent and resources that fill the gaps in your changing workforce. However, outsourcing specialized managed services for contingent workforces provides an efficient and cost-effective solution that helps grow your business margins and streamline daily operations.

MSPs provide an excellent solution for clients who are looking for an all-in-one package to implement, manage, and support their contingent labor. This solution is highly effective and cost-efficient for clients with little to no in-house expertise. It provides the client with the lowest risk option and can sometimes be the fastest path to success.

Fundamentals of an MSP Program

 

 

  • Program Management: The overall solution design and operations of the program including process, guidelines, and procedures

 

  • Supplier Strategy: The approach to engaging, onboarding, measuring, and supporting Suppliers

 

 

  • Invoicing & Finance: The financial workflow and required data points from budgeting to invoicing.

 

  • Reporting & Analytics: Designing the reporting strategy and metrics that provide transparency and facilitate the achievement of program goals.

Our Vendor Management System (VMS) serves as the key technical solution that brings everything together. It not only supports the day-to-day operations of the program but also facilitates the smooth flow of data throughout the entire process.

Benefits of an MSP

Cost Savings

Reduce costs and streamline processes

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Change Management

Proven implementation and change management strategies

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Maturity

Program maturity models

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Resources

Dedicated Account Management resources

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On-Demand

Tactical, on-demand reporting and strategic reporting

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Consolidation

Consolidate invoicing processes

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Compliance

Ensure compliance to policies, procedures and laws

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Visibility

Increase visibility into labor spend

Our Reach

$2.6 Billion+Spend Managed
50+Countries
17,000+Supplier Partners
25+Industries
7VMS Partners

The Monument Difference

Monument sets itself apart from the competition by focusing on the needs of the client. When you hire us, you get the benefit of working with a staff that has proven its worth:

 

VMS Neutrality

At Monument,  we pride ourselves for our neutral, client-centric approach when it comes to Vendor Management Systems. We support organizations to pick the best vendor for their specific programs based on value-added.

 

Award-Winning

Monument is proud of earning our second consecutive Star Performer Recognition from Everest Group. In their 2023 MSP PEAK Matrix assessment, Monument was named due to our extensive capabilities and experience, as well as our successful market impact.

We also earned a SAP Award for outstanding contributions to Intelligent Spend and Business Network solutions in 2023. It’s our commitment to clients that drives our award success. We are immensely proud to constantly be on the watch for ways to improve ROI across departments.

 

Client Satisfaction

With a 92% Program Satisfaction Score from our client surveys, it’s clear that our clients have noticed the efficacy and value of our MSP solutions. We believe that treating clients with respect begins by recognizing their unique needs and company priorities. We have experience working across different industries, allowing us to better grasp what drives revenue and how we can step in to be of service.

Contact Us

For more information on Total Talent Management (including, but not limited to, MSP, RPO Capabilities, Direct Sourcing, Account Management, Supplier Strategy, and Payrolling), please reach out.

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