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Magnit Named "Market Leader" in Ardent Partners' 2024 VMS Technology Advisor Report
[March 27, 2024]

Magnit Named "Market Leader" in Ardent Partners' 2024 VMS Technology Advisor Report

Magnit™, an Integrated Workforce Management (IWM) platform provider, attained "Market Leader" designation in Vendor Management Systems (VMS) as part of Ardent Partners' 2024 VMS Technology Advisor report. Magnit was evaluated against seven VMS solution providers and was recognized for its best-in-class VMS, powerful suite of integrated tools and solutions, and next-generation workforce analytics. According to Ardent Partners' report, Magnit has an "innovative blend of solutions that reflect the next generation of talent technology" and has "redefined the landscape of workforce management platforms."

"We're honored to be recognized as a VMS Market Leader in Ardent Partners' report," said Vidhya Srinivasan, chief product and marketing officer at Magnit. "As the evolution of work unfolds, organizations are increasingly seeking platforms that empower them to manage their talent with agility. We remain at the forefront of these trends, continuously innovating to ensure our clients have the tools they need to navigate the complexities of the evolving workplace."

Ardent Partners' report evaluated eight leading VMS solution providers to help organizations navigate the marketplace, designating them into four categories based on provider and solution strength: Trailblazers, Challengers, Vanguard Leaders and Market Leades. Market Leaders are defined as providers with universal strengths across their offerings, matched with an ability to execute at the highest level.

Ardent Partners recognized the strengths and differentiators for Magnit VMS in its assessment, including the organization's:

  • VMS platform, which provides users with access to Magnit's other leading tools, such as Direct Sourcing, Total Talent Intelligence, and its new Contingent Referral Program offering to enhance visibility and management of end-to-end workflow for the contingent workforce.
  • Artificial Intelligence (AI) and next-generation automation, which powers Magnit's "Flight Risk" tool to proactively address crucial elements of worker engagement, enabling users to drill down by region, business unit, and role type to better understand attributes that play into attrition, retention and pay rates.
  • Workforce analytics, which offer clients a superior reporting experience that presents real-time insights into regional, supplier, diversity, savings, spend, skillsets and other realms of workforce intelligence for improved decision-making.
  • DE&I focus, which provides deep and powerful DE&I data to help organizations manage diverse hiring initiatives, uncover key trends, augment direct sourcing, and enable human capital leaders to deepen their talent communities and skillset networks.
  • Skills-based hiring, which converges technology, integrations and partnerships to augment skills-led engagement strategy, plot out dynamic job descriptions, worker skill trends, and skills evolution to help managers and talent acquisition leaders improve approaches.
  • Services procurement and SOW tool, which offers real-time, proactive SOW guidance and enables hands-on, dynamic control over the extended workforce's largest subcategory.

"Magnit represents the future of workforce and talent solutions," said Christopher J. Dwyer, SVP of research at Ardent Partners and author of the new study. "Magnit's cutting-edge talent technology, combined with powerful MSP offerings under a groundbreaking Integrated Workforce Management umbrella, positions the company as a forward-thinking solution for the Future of Work era."

Learn more about Magnit VMS when you read Ardent Partners' 2024 VMS Technology Advisor report.

About Magnit

Magnit™ is a global leader and pioneer in contingent workforce management. Our industry-leading Integrated Workforce Management (IWM) Platform is supported by 30+ years of innovation, modern software, proven expertise, and world-class data and intelligence. It enables companies to optimize talent and diversity goals while achieving operational and financial success. With Magnit, companies can adapt quickly to the evolution of work to grow their extended workforce with greater agility, transparency, and speed.

"Magnit" is a trademark or registered trademark of Magnit, LLC. Any trade, product, or service name referenced in this document using the name "Magnit" is a trademark and/or property of Magnit, LLC.

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