Vendor Analysis
published on Nov 04, 2022
Report Overview:
This NelsonHall vendor assessment analyzes Magnit's offerings and capabilities in contingent workforce solutions (CWS) and managed services programs (MSP)
Who is this Report for:
NelsonHall’s CWS/MSP profile on Magnit is a comprehensive assessment of Magnit’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of CWS/MSP and identifying vendor suitability for CWS/MSP RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the CWS/MSP sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Magnit’s CWS/MSP offerings, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue/SUM estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s service delivery organization (including delivery locations).
Key Findings & Highlights:
Magnit (formerly PRO Unlimited), founded in 1991, was formed on the premise that there was a critical need to manage the entire ecosystem of the contingent workforce. Magnit was created from a risk management/advisory company, not from a staffing business, a fact that would inform its unique vendor-neutral approach in the decades to come. As the marketplace has changed over the years, Magnit’s vision and mission have evolved, with the goal of shaping and delivering the next chapter in workforce management for its employees, clients, suppliers, and partners around the world. Magnit offers an Integrated Workforce Management (IWM) platform that enables organizations to strategically manage, optimize, and adapt their modern workforce. Magnit's platform consists of integrated SaaS and services solutions built on the industry’s most extensive contingent workforce data set, spanning 30+ years.
Magnit offers vendor-neutral MSPs, employer of record, worker experience, independent contractor solutions, risk and compliance, strategic advisory, and DE&I services. It also offers Services Procurement/SOW, DaaS, Payroll/EOR, RPO, and total talent solutions. Through partnerships and acquisitions, Magnit added new services and capabilities in 2021/early 2022. In 2023, Magnit will grow its geographic and industry footprint, serving organizations of all sizes.