ATLANTA, September 22, 2022 — Global talent solutions provider Randstad Sourceright today announced that it has been recognized as a Leader in Everest Group’s “Contingent Workforce Management (CWM) / Managed Services Provider (MSP) PEAK Matrix® Assessment 2022,” and a Leader and a Star Performer in Everest Group’s “Services Procurement / Statement of Work (SOW) PEAK Matrix® Assessment 2022.”
In addition to being named a Leader — which recognizes a provider's ability to successfully deliver MSP services — for the ninth consecutive time, Randstad Sourceright achieved the highest rating in the Vision and Capability Category for managed service providers (MSP).
“It is an honor to be recognized by Everest Group once again as a Leader in MSP,” said Mike Smith, global CEO of Randstad Sourceright. “In a market characterized by higher demand for skilled workers, growing talent shortages and uncertainty about the future, it’s more important than ever to leverage the full spectrum of contingent talent — freelance, temporary, independent contractor, gig and SOW. Our goal is to empower companies with analytics-based, easy-to-use and scalable solutions that connect them with the people who will help them achieve their priorities, all while providing the agility to quickly react and adjust to changing business needs.”
As a Star Performer in the Services Procurement / Statement of Work (SOW) assessment, Randstad Sourceright has shown significant improvement over its 2021 performance in the Vision and Capability and Market Impact categories. Reflecting the company’s commitment to enhancing SOW management, such as the introduction of Services Procurement 360, Randstad Sourceright offers robust and simple ways for companies to manage their SOW engagements for greater efficiency and transparency.
“Over the past year, Randstad Sourceright greatly expanded our SOW capabilities to meet the needs of companies looking for effective ways to manage their third-party supplier engagements,” said Paul Vincent, global head of Services Procurement at Randstad Sourceright. “Our Service Procurement 360 solution enables any company, no matter the level of maturity, to achieve greater value from their people-based services. We are honored that Everest Group has recognized how we’re transforming the SOW process for businesses.”
Everest Group's PEAK Matrix is the most trusted and factual analysis of service provider capabilities, covering over 50 different market segments each year. The CWM Assessment segments 24 CWM/MSP providers into Leaders, Major Contenders, Aspirants and Star Performers categories, while the “Services Procurement / Statement of Work (SOW) assessment does the same for 18 SOW providers. Each provider is evaluated on seven dimensions — market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprint, and vision and strategy.
“Randstad Sourceright remains a key player in contingent talent management, offering a breadth and depth of services to help businesses efficiently manage the MSP and SOW processes,” said Krishna Charan, Practice Director, Everest Group. “The company’s continued investment in expanding technical capabilities and growing focus on analytics, along with a high-touch delivery model, have all contributed to its positioning as a Leader.”
As more companies seek to shift a greater number of roles to contingent, project or contract work, Randstad Sourceright offers the combination of technology and human intelligence to help companies achieve the flexibility, workforce agility and business readiness. This approach includes the latest MSP 4.0 strategies, such as market intelligence; employer branding; talent marketing; direct sourcing; talent pooling; and diversity, equity and inclusion.
Along with the growing use of contract work, companies are often challenged to manage the link between talent acquisition and the utilization of project-based expertise. Introduced in May 2022, the Services Procurement 360 SOW management solution offers a holistic procurement workflow, spanning defining business requirements, sourcing talent, monitoring contracted deliverables, and evaluating service provider performance. The result is a simple, customizable model to manage services procurement processes more effectively.
