Editor’s note: today’s article is another sneak peek at the new Contingent Workforce Management: The 2016 Technology and Innovation Outlook Report, available for download here. Throughout the next few weeks, CPO Rising will be highlighting key areas of discussion from this report and linking them back to the evolution of today’s non-employee workforce.
Innovation is all around us: in our pockets (smartphones), through our televisions (smart and 4K TVs), on our daily commute to the office (Tesla, anyone?), and, most importantly, within the greater spectrum of the business world. Most, if not all, corporate functions are being (or have the ability to be) transformed by the advents of technology, automation, and connectivity. Finance professionals boost the strategic worth of once back-office functions like accounts payable while the modern Chief Procurement Officer can drive ultimate value from more than mere cost savings.
Technology is a bountiful provider of value for today’s businesses, and, as software and solutions become more accessible and more affordable to even those organizations that once scoffed at the very idea of end-to-end automation across core business competencies. Within specific areas of the business, however, technology has not just been a boon for driving visibility, cost reductions, or other tangible benefits; it is revolutionizing how “work” is done.
Today’s non-employee workforce is a high-impact, dynamic force within the contemporary business, helping to spark competition and achieve critical organizational goals and objectives. Technology such as Vendor Management Systems (“VMS”), Freelancer Management Systems (“FMS”), online talent platforms, and other key solutions, while composing key pieces of the contingent workforce management (“CWM”) ecosystem, all fuel innovation in not only how talent is managed and reconciled … they also alter how skillsets/expertise are engaged and ultimately how “work” is addressed.
Innovation, be it via the ecosystem, the realm of analytics to garner intelligence, or the integration of human capital systems and talent platforms with core CWM and spend management solutions, follows a dual-sided approach:
1. Innovation, at its core, is triggered by the evolution of core and emerging technology platforms that not only improve or enhance key CWM capabilities and competencies, but also transform the way work is addressed and talent is engaged across the globe. However…
2. …the other “side” to innovation is how businesses are actually and actively utilizing these systems and solutions to contribute to the global economy and set the stage for future evolution of the talent market.
The new Technology and Innovation Outlook Report addresses this dichotomy, and progresses the concept of innovation within today’s non-employee workforce. Click here to download a copy, and stay tuned for more insights from this new research report.
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