SOURCING ECOSYSTEM

Faster access to all talent from any source in a singular view

Sourcing ecosystems are replacing supply chains as a way to ensure access to talent and manage a company’s contingent workforce. Legacy Vendor Management Systems (VMS) are simply not agile or powerful enough to keep up with a rapidly evolving market for external workers. Flextrack’s unique extended workforce Platform as a Service provides a unified, modern, coordinated, secure, and accessible solution for sourcing the extended workforce across the ecosystem.

By offering workflows designed by contingent workforce experts, advanced analytics, seamless integration, and improved supplier relationships, Flextrack is years ahead of any legacy VMS tool on the market today.

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What is a Sourcing Ecosystem?

A sourcing ecosystem refers to a comprehensive strategy for relationships, tools and processes that support the sourcing, engagement, management, and optimization of a company’s contingent workforce. It encompasses all aspects of managing a flexible extended workforce, including identifying talent pools, sourcing and selecting talent, contract negotiation, engagement and payment management, performance monitoring, and end-of-assignment processes.

Sourcing ecosystems represent a more holistic, future-proof strategy to talent acquisition than supply chains. The specific skills your business needs to meet its objectives, for example, may not be present in one or more of your supply chains. By raising your visibility into the entire ecosystem, you are much more likely to find the skills you need in a more efficient, reliable and constructive manner, especially given how mobile talent is becoming. The result is a better experience and unlimited access to skills and talent, when you need it.

THE PATH FROM SUPPLY CHAINS TO ECOSYSTEMS

Unlike supply chains, the goal of a sourcing ecosystem is to create a seamless and efficient process for finding and managing the right talent from all channels to meet all changing needs of the business.

It’s about speed, adaptability, visibility, and growth.

SUPPLY CHAIN

ECOSYSTEM

Key challenges with legacy VMS technologies

Some organizations may deploy a single procure-to-pay (P2P) suite solution for each workforce segment to meet their sourcing and procurement needs. This results in modular solutions that reinforce silos and lead to inefficiencies, frustrating user experiences, and missed opportunities to identify and access sought-after talent. Integrations with legacy VMS’s are often complicated, costly, and drawn out.

The digitization of procurement and sourcing has driven the development of related applications such as eSourcing platforms, contract management systems, supplier management systems, procurement analytics, and spend management platforms, to name a few. However, each of these solutions often only partially meets the needs of the organization.

EXAMPLES OF CHALLENGES

Most solutions still follow a supply-chain approach, resulting in modular architecture that degrades user experience, restricts views on talent sourcing and overall visibility. It also creates drags on efficiency.

Fragmentation

The multiple modules and relationships involved in a sourcing ecosystem can make it difficult to manage and optimize, with the system becoming a roadblock to efficiency and adaptability.

Complexity

Unifying the various elements of a sourcing ecosystem can be challenging when it comes to data management and maneuvering systems, resulting in fragmented data, compromised supplier relations, delays and lost visibility.

Integration

Implementing and maintaining a sourcing ecosystem can be costly, especially for organizations that need to invest in technology and processes to manage their contingent workforce.

Cost

Ensuring compliance with legal and regulatory requirements related to varied workforce segments can be difficult, especially when working with multiple vendors and suppliers.

Compliance

Managing risks associated with engaging contingent workers can be challenging when it comes to issues such as data security, intellectual property protection, and liability.

Risk management

Some organizations may feel comfortable with old processes, or they are experiencing “change fatigue,” resulting in a reluctance to adopt new processes and technologies, even if they prove to be easier and more efficient.

Resistance to change

In short, a sourcing ecosystem requires an agile, integration-forward technology, along with careful planning, implementation, and management, to ensure that its benefits can be realized while addressing challenges, costs, and risks.

Enter: Flextrack’s Platform as a Service – unifying fragmented systems

Bridging the gap between your extended workforce and your enterprise talent strategy

We bring different sourcing technology that organizations need together into a single user experience.

Companies use this technology to source talent:

VMS
Direct sourcing
Freelancer management systems
Applicant tracking systems
Staffing suppliers
Procurement tools

Flextrack leverages the Salesforce analytics suite to make it all actionable, and we do it through a seamless user experience.

Here’s what having our solution means for the dynamism and interconnectedness of your organization:

Flextrack is built on the gold standard of cloud platforms to provide a next-gen VMS

Building our extended workforce solution with a PaaS architecture allows us to provide organizations with a comprehensive, future-proof and secure next-gen Vendor Management System (VMS) that’s years ahead of any legacy VMS tool.

CERTIFIED CONNECTORS (IPAS)

Prebuilt connector with leading ERP and other enterprise technologies to simplify integrations

OPEN API

Seamlessly integrated an organization’s talent technology into a single user experience

APPEXCHANGE

Choose from thousands of different business applications to bolt onto your solution to meet your business needs

All aspects of procurement and sourcing operations are supported on an enterprise-grade global infrastructure; from supplier management and contract negotiation to spend analysis and performance monitoring, Flextrack has the capability to source all your talent in one single, intuitive user experience.

Get seamless access to all your organization's solutions with our unlimited platform extensibility combined with the largest out-of-the-box application ecosystem.

Enjoy rapid connectivity across all major platforms with our certified connectors.

Optimize your user experience and team with our native case management tools, allowing for effective troubleshooting and program improvement.

Get real-time access to SLA and KPI data, freeing up time for high-value tasks.

Quickly integrate with third-party onboarding, compliance, and offboarding platforms.

Experience limitless platform extensibility with our plug-and-play no-code or low-code workflows, integration configurations, and maintenance to meet your unique business needs and allow for easy experimentation and process changes.

Improve management of your internal PMO or MSP based on your needs.

Enhance your analytics and decision-making with our advanced case management and reporting capabilities.

Elevate your program and MSP management with predictive and prescriptive advanced analytics and AI.

Optimize your workflows and lower total cost of ownership with our streamlined solutions.

Experience the Salesforce analytics suite for optimizing pay rates and program performance.

Flextrack is built on the gold standard of cloud platforms to provide a next-gen PaaS

CERTIFIED CONNECTORS (IPAS)

Prebuilt connector with leading ERP and other enterprise technologies to simplify integrations

OPEN API

Seamlessly integrated an organization’s talent technology into a single user experience

APPEXCHANGE

Choose from thousands of different business applications to bolt onto your solution to meet your business needs

All aspects of procurement and sourcing operations are supported; from supplier management and contract negotiation to spend analysis and performance monitoring, Flextrack has the capability to source all your talent in one single experience.

Get seamless access to all your organization's solutions with our out-of-the-box integration.

Enjoy rapid connectivity across all major platforms with our certified connectors.

Optimize your user experience and team with our native case management tools, allowing for effective troubleshooting and program improvement.

Get real-time access to SLA and KPI data, freeing up time for high-value tasks.

Quickly integrate with third-party onboarding, compliance, and offboarding platforms.

Experience flexibility and fast customization with our plug-and-play no-code or low-code options to meet your unique business needs and allow for easy experimentation and process changes.

Improve management of your internal PMO or MSP based on your needs.

Enhance your analytics and decision-making with our advanced case management and reporting capabilities.

Elevate your program and MSP management with predictive and prescriptive analytics.

Optimize your workflows and lower total cost of ownership with our streamlined solutions.

Flextrack is always looking ahead – it’s how we stay future-proof

As an extended workforce Platform as a Service (PaaS), part of what makes us so effective is the belief that in order to have a functioning ecosystem, we must look beyond the capabilities of current technology by considering new trends, developing ideas, and key data. We’re always engaging our communities and leaders to gain insights and perspectives that help us grow and our clients succeed.

Dive deep into the state of the market with new research

Discover the benefits of mastering extended workforce management

SOURCING ECOSYSTEM

Faster access to all talent from any source in a singular view

QUICK ACCESS

What is a Sourcing Ecosystem?

THE PATH FROM SUPPLY CHAINS TO ECOSYSTEMS

SUPPLY CHAIN

ECOSYSTEM

Key challenges with legacy VMS technologies

EXAMPLES OF CHALLENGES

Enter: Flextrack’s Platform as a Service – unifying fragmented systems

Bridging the gap between your extended workforce and your enterprise talent strategy

Flextrack is built on the gold standard of cloud platforms to provide a next-gen VMS

CERTIFIED CONNECTORS (IPAS)

OPEN API

APPEXCHANGE

Flextrack is built on the gold standard of cloud platforms to provide a next-gen PaaS

CERTIFIED CONNECTORS (IPAS)

OPEN API

APPEXCHANGE

Flextrack is always looking ahead – it’s how we stay future-proof

Discover the benefits of mastering extended workforce management

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