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NelsonHall Report Names Magnit a Services Procurement Leader
Jordan Jensen | February 14 2023
More companies across the globe are leveraging SOW and contingent labor to effectively address their agile workforce needs. In this volatile and uncertain economic climate, executives throughout the C-suite know how important it is to balance their internal talent with external expertise and professional services to be able to operate effectively and achieve other high priority initiatives including cost savings. Thankfully, there are third-party analysts and consulting firms available to help you and your organization make more informed decisions to select the highest performing Services Procurement, CWS, and MSP technology providers.
NelsonHall, one of the leading global analyst firms, recently named Magnit a Services Procurement “Leader” in its NelsonHall NEAT Evaluation 2022 for Contingent Workforce Solutions (CWS) and Managed Service Programs (MSP). Magnit was the preeminent performer across both axis of the NEAT graph (see image below), garnering the report’s highest marks for its "ability to meet future client requirements" as well as "delivering immediate benefits” to clients.
No other vendor achieved higher marks related to the maturity of their services procurement offerings, including delivery capability, achievement of client benefits, and customer presence. In the aggregate, the level of partnership established between Magnit and its clients, the mechanisms in place to drive innovation, the level of investment in Magnit’s services and its financial stability also contributed to its top ranking.
Magnit was also pleased to be ranked as a "Leader" in all other segments including Technology Innovation and Geographic Footprint & Scalability within the NelsonHall NEAT vendor evaluation. In total, the rigorous assessment ranked the performance of 13 vendors, providing strategic insights across eight categories and over 100 criteria. Interviews with clients of these 13 vendors were also part of the assessment.
Key Differentiators
Within the NelsonHall CWS & MSP 2022 NEAT, the analyst highlighted several key differentiators which were identified as Magnit’s unique strengths including:
- 30+ years operating in the contingent worker hiring space
- Expertise in the vendor-neutral MSP model
- The Magnit Platform (a framework for optimizing contingent services and technology), which enables Magnit to meet clients' individual needs; this is a next-generation platform enhanced with additional tech capability from its 2021 acquisitions
- Its MSP and SOW maturity models, aligned to the Magnit Platform, guiding clients/other organizations in transforming their contingent workforce solutions
- Robust roadmap of proprietary and third-party tech developments and partnerships, bringing unique/exclusive features and functionality via new platforms it develops and launches as part of its ecosystem
- The launch of associated value-adding services (such as Magnit Direct Sourcing, Magnit DE&I, DaaS, and TTI) supporting the transformation occurring in relation to the hiring of contingent workers
- Walking the talk with its expanded and deep DE&I offerings (platform, cultural inclusion, worker and candidate diversity, supplier diversity, and minority ownership)
Learn More
For detailed information on Magnit Services Procurement, please read the published NelsonHall CWS & MSP 2022 NEAT Report, visit our Services Procurement webpage, or request a demo today!
If you’re interested in learning more about how Magnit is helping organizations implement winning contingent workforce programs globally, please contact a Magnit representative at info@magnitglobal.com.
Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of Magnit and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.