5 primary benefits
Table of contents
5 primary benefits of Beeline
Regulatory & policy compliance
1
Visibility
2
Cost control
3
Contingent workforce quality
4
Process efficiency
5
Fit-for-purpose solutions
→
•3•
Why 70% of leading companies implement a vendor management system (VMS).
$1.7 trillion. That’s how much organizations worldwide spend on the non-employee workforce annually. Beeline provides the tools you need to source and manage your nonemployee workforce. Here are a few of the many benefits..
65%
of companies plan to increase the use of contingent workers.
At the same time
70%
5 primary benefits of Beeline
of executives said they are somewhat or strongly challenged when integrating them into their workforce.
•5•
BENEFIT 1
Regulatory & policy compliance Government policies are changing at a rapid pace as talent (both employee and non-employee) seek equality and rights in their jobs. The importance of properly following hiring policies for your diverse workforce is equally important as regulations are put in place to ensure proper worker classification, benefits, and taxes are applied. The growing complexity and the consequences when these are not applied properly can have a devastating impact. This can result in litigation, financial penalties, and reputational damage.
Below are only 10 of many regulations Beeline can help ensure compliance to: 1
Tax Code (US)
2
Pay Parity Act (US)
3
Fair Labor Standards Act (US)
4
Family and Medical Leave Act (US)
5
Employee Retirement Income Security Act (US)
6
State Workers’ Compensation Laws (US)
7
State Income Tax Laws (US)
8
IR35, HM Revenue & Customs (UK)
9
DBA Act and WAB Act (Netherlands)
10 The Fair Work Act (Australia)
Regulatory & policy compliance Visibility
25%
of companies have misclassified employees.
5 primary benefits of Beeline
Cost control
Contingent workforce quality
Process efficiency
•7•
1
BENEFIT 2
Visibility
Your company already knows the value of having a diverse workforce made up of the right mix of employee and non-employee talent. You also understand the consequences of not having proper processes and policies in place for this workforce. But do you know how many non-employee workers – including temps, consultants, independent contractors, and service providers – you have in your company? •D o you know who they are, where they are, and what they’re doing? •D o you know if they are working remotely? •O r if they are able to work remotely? •A re they properly classified?
Get real-time, comprehensive visibility into your contingent workforce and related spend, allowing you to answer six important questions for your executives: 1
“What is the composition of our non-employee workforce?”
2
“ What access do they have to our facilities, systems, and intellectual property?”
3
“ How can we be sure this access is discontinued when their assignments are completed?”
4
“Are these non-employees properly classified for tax purposes?”
5
“Are we paying too much for certain skillsets?”
6
“Are we deploying our contingent workforce strategically?”
Regulatory & policy compliance
Visibility
25%
of the workforce globally is unaccounted for.
5 primary benefits of Beeline
Cost control
Contingent workforce quality
Process efficiency
•9•
2
BENEFIT 3
Cost control If your program is currently managed manually or using an out-of-date vendor management system (VMS), plenty of opportunities exist to improve cost control and, most likely, to reduce spending. Among the challenges to address are maverick program spend from uncontrolled labor engagement, a lack of contingent workforce strategy and forecasting, and accounting for “invisible workforce” not included in the budget.
Here are seven things Beeline empowers you to do quickly and efficiently: 1
Review and negotiate vendor rates
2
Analyze and reduce overtime usage
3
Compare bill rates to market standards
4
Consolidate budget tracking
5
Negotiate supplier discounts
6
Track and analyze turnover
7
Increase your spend forecast accuracy
Results: •A major pharma company achieved 10% cost savings in year one by enforcing rate card adherence •R eduction in pay rates for technical skill sets reduced by 50% at a leading energy company •7 .5% year over year cost savings delivered at a leading financial services company, resulting in $37 MIL in cost savings over 5 years of Beeline partnership
60%
of non-employee labor is not actively accounted for in formal budgeting, planning and financial forecasting.
Regulatory & policy compliance
Visibility
Cost control Contingent workforce quality
Process efficiency
5 primary benefits of Beeline
• 11 •
3
BENEFIT 4
Contingent workforce quality Besides acquiring the best talent available, what can program managers do to raise the quality of their contingent talent? The first step is to collect all necessary data and gather it into one place. Many companies track billed hours and cost per contingent worker, but it takes more to truly measure your talent quality.
These six data points that can be pulled from Beeline will give you a more complete picture into the quality of your workforce: 1
Billed hours and cost per contingent worker
2
Project talent cost
3
Contingent worker (and hiring manager) performance
4
Milestone and project completion
5
Number of re-engagements
6
Contract extensions
Regulatory & policy compliance
Visibility
Finding higher quality talent and expertise is a major concern for
73%
Cost control
Contingent workforce quality Process efficiency
of contingent workforce managers.
5 primary benefits of Beeline
• 13 •
4
BENEFIT 5
Process efficiency It is no longer efficient to manage this labor manually or on a distributed, departmental basis. Instead, Beeline allows you to establish centralized contingent workforce management functions to source and manage nonemployee talent.
Here are 10 ways Beeline increases efficiency: 1
Guides hiring managers in the creation of job requisitions
2 Distributes job requisitions to suppliers in accordance with approved procedures 3 Automates the process of candidate review and evaluation, including scheduling and tracking interviews 4
Allows for rate negotiation
5
Provides consistent onboarding
6
Manages timekeeping and expense reporting
7 Automates the entire accounting and billing process, including application of local tax rules 8
utomates worker offboarding, ensuring that all assets are returned and A security access terminates when assignment ends
9 Integrates seamlessly with enterprise ERP, HRIS, and other systems for accurate, error-free data exchange 10 Provides auditable system of record for all contingent workforce data
Regulatory & policy compliance
Visibility
Cost control
17%
2009 Contingent workforce quality
49%
2023
Process efficiency
External talent has grown from 17% of the average company’s total workforce in 2009 to nearly half—49%—in 2023.
5 primary benefits of Beeline
• 15 •
5
Fit-for-purpose solutions Beeline provides fit-for-purpose solutions for programs and companies of all sizes. Whether you are just now reaching the point where you need a light-weight easy-to-activate solution or looking to modernize how you manage your large complex extended workforce, Beeline has a solution for you.
Talk to an expert to find out which solution is best for you.
About Beeline For over 20 years, Beeline has empowered businesses worldwide to achieve competitive advantages with their extended workforce. Beeline Extended Workforce Platform gives companies the visibility needed to mitigate risk, achieve cost savings, and meet dynamic business needs. With tailored solutions that solely focus on the complexities of the extended workforce, clients leverage Beeline products that fit their unique requirements. Through thousands of integrations, clients can connect their extended workforce data from all technology stacks, including major procurement and HR systems. Join the list of renowned brands benefiting from Beeline’s deeply seasoned experts, collaborative innovation, and industryleading partner network. Explore more at beeline.com.
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