Fieldglass' Increased Market Share Bolsters Its Position As The Worldwide Vendor Management System Leader
Global focus, industry sector penetration and collaborative product innovation underscore the company's 1H 2013
CHICAGO, Aug. 21, 2013 /PRNewswire/ -- Fieldglass, Inc., the leading cloud provider to procure and manage contingent labor and services, today announced that in the first half of 2013 the company extended its industry leadership with a significant spend under management market share increase.
"Fieldglass realizes continual growth because of our unique partnership with customers to innovate and solve business problems," Jai Shekhawat, CEO and Founder of Fieldglass said. "The milestones we achieved in the first half of 2013 are indicative of our commitment to service, including steadfast support for our partner ecosystem in order to fuel our customers' successes."
1H 2013 Fieldglass highlights include:
Sizable Market Share Increase: For the fifth consecutive year, Fieldglass ranks highest in total spend under management for contingent and Statement of Work (SOW) services, with $27.4 billion in 2012 according to Staffing Industry Analysts' 2013 VMS and MSP Supplier Competitive Landscape report. The same report found the company's spend under management accounts for 31 percent of the total VMS market, up from 20 percent in 2011. The company's market share grew due in part to its strong year-over-year retention rate and its appeal to a majority of first generation VMS buyers of all sizes. Fieldglass has $10 billion more in spend under management than its nearest competitor.
Market Recognition of Product Leadership: In 2013 Fieldglass was honored with Illinois Technology Association (ITA) CityLIGHTS "Lighthouse" award, presented to a growth-stage company for demonstrated innovation and elevating Chicago's technology community. The company was also named "Best Human Capital/Talent Management Solution" in the 27th Annual SIIA Software CODiE Awards. For the second year in a row, Fieldglass was the only VMS provider to be named to the JMP Securities Hot 100 list. Fieldglass also garnered a Supply and Demand Chain Executive 100 award and was named a finalist in the People's Choice Stevie® Awards for Favorite New Product.
Doubling Down on Global Support: Fieldglass has furthered its global investments, including plans to double the size of its European workforce and increase its overall employee base by 30 percent in 2013. The company developed locale-specific capabilities to meet the unique needs of customers operating in highly regulated countries such as France and Japan where workers are entitled to pay modifications based on working conditions. The EU and other locales have strict rules regarding parity of contract workers with their full-time employee counterparts and Fieldglass can now seamlessly manage those rules.
Building Critical Mass in Industry Verticals: Fieldglass has expanded its leadership in key industry verticals. As an example, in 2013 Fieldglass secured several new global wins in the oil and gas sector. The company has invested heavily to address health and safety certification and supply base management needs, compliance requirements crucial for the energy industry. The company has also observed recent momentum in the banking and telecommunications industries.
Continued Rapid Innovation: In joint customer and partner ideation, Fieldglass continues its mission to deliver a positive user experience. New data views allow users to observe transactions at a high level and drill down into the details from the same interface. Customers are also increasing their usage of direct source capabilities by identifying candidates from internal and external career portals. Fieldglass has managed 48 SOW projects year-to-date, both new customer deployments and expansions, producing several significant SOW-related enhancements.
ABOUT FIELDGLASS, INC.
The Fieldglass Vendor Management System (VMS) allows organizations to better procure and manage their flexible workforces, including contingent labor and services managed through Statements of Work, such as project-based spend, offshore engagements and independent contractors.
Fieldglass is the current VMS market leader in global spend and has held the industry's highest customer satisfaction rating for three consecutive years, according to Staffing Industry Analysts. The world's leading companies, including GlaxoSmithKline, Johnson & Johnson, Monsanto, Rio Tinto and Salesforce.com, rely on Fieldglass to gain visibility into complex services spend, improve worker quality, enforce corporate and external compliance and realize greater contingent workforce program efficiencies. For more information, visit www.fieldglass.com.
SOURCE Fieldglass, Inc.
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