We use the following definition of a managed service provider, or MSP, from the Staffing Industry Analysts:

“A company that takes on primary responsibility for managing an organization’s contingent workforce program. Typical responsibilities of an MSP include overall program management, reporting and tracking, supplier selection and management, order distribution and often consolidated billing.”

Click here to find out more about managed service providers and how one can benefit your business.

According to the Staffing Industry Analysts, a vendor management system (VMS) is “an internet-enabled contingent worker sourcing and billing application that enables an organization to procure and manage a wide range of contingent workers and services in accordance with the organization’s business rules.”

Interested in learning more definitions from the workforce management industry? Click here for a full list.

There are three main staffing programs in the industry. They are the master vendor program, the preferred vendor network (or list) and the managed service provider (MSP) program.

Please click here for more information about the difference between each of these staffing solutions and to find out which one is best for your organization to consider.

Knowledge Services currently supports the States of Indiana, Maine, Tennessee, Arizona, Florida and Utah with our MSP and the dotStaff™ VMS.

On average, our clients see a 20% reduction in their temporary labor spend.