CHICAGO, Aug. 16, 2012 /PRNewswire/ -- Fieldglass, Inc., the leading technology provider to procure and manage contingent labor and services, announced impressive, continued growth in the first half of 2012, with more than 25 new business awards. At full implementation, these customers will manage in excess of $15 billion in additional annual spend via Fieldglass.
For the fourth consecutive year Staffing Industry Analysts (SIA) ranked Fieldglass the largest Vendor Management System (VMS) provider with $21.6 billion in spend under management in 2011, accounting for 20 percent market share. In addition, Fieldglass is deployed in more countries than any other VMS, according to the 2012 SIA VMS/MSP Supplier Landscape Report.
Fieldglass customers' programs have matured to include more complex areas of spend, including Statements of Work (SOWs) and independent contractors. In particular, the number of SOWs processed through Fieldglass nearly tripled year-over-year. This increasingly sophisticated, high-value, high-touch use of the product comes as more customers are actively participating in program optimization efforts through Fieldglass' consultative services.
"Going through a formal maturity evaluation exercise with Fieldglass' subject matter experts was a great opportunity to pull all the relevant stakeholders – both internal and external - together in a focused session for targeted discussions on each of the important aspects of the program," said Jon Kesman, Global Procurement Director, Reed Elsevier. "We easily identified some relatively simple things that will go a long way towards adding value to our hiring managers, as well as some longer term strategic items that will help our program evolve and remain effective, relevant and easy to use."
In 2012 Fieldglass' co-founder and CEO Jai Shekhawat was recognized for pioneering the VMS industry with the Peter Yessne Staffing Innovator Award. Additionally, he was named a 2012 Midwest "Entrepreneur Of The Year" by Ernst & Young for his achievements as an entrepreneur, Chicago business leader and VMS industry innovator.
Fieldglass was the only VMS provider to be named to JMP Securities "Hot 100" list this year. One of the themes shared by the list-makers was a focus on adding social elements to key business processes. With its July product release, Fieldglass introduced first-to-market embedded social enterprise tools. Moving beyond basic user experience enhancements, these social capabilities allow customers to tap into contextual knowledge, improve user communication and enhance cross-program collaboration across the supply chain.
To support its continued customer growth, Fieldglass has expanded worldwide, including offices in Chicago, London, Sydney, and development offices both in the US and overseas. Fieldglass' customers gathered in June for the company's annual Best Practices Summit, bringing together nearly 100 engaged procurement and HR thought leaders from the world's leading corporations to form the industry's largest user community.
ABOUT FIELDGLASS, INC.
Fieldglass is the largest Vendor Management System (VMS) provider. Its innovative Software-as-a-Service (SaaS) solutions allow organizations to better procure and manage their flexible workforces, including contingent labor, services arranged through Statements of Work, independent contractors and specialized talent pools. Using Fieldglass' technology and value-added consulting services, global companies establish and sustain strategic, results-oriented contingent workforce and services procurement programs, year after year.
Fieldglass is the current VMS market leader in global labor spend and holds the industry's highest customer satisfaction rating two years running, 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 both corporate and external compliance and realize greater contingent workforce program efficiencies. For more information, visit www.fieldglass.com.
SOURCE Fieldglass, Inc.