IQNavigator (IQN) is the second largest vendor management system (VMS) in the world based on spend annually processed through the platform. Founded in 1999, it is now the largest, pure-play, independent (i.e., not owned by another software company or a staffing business) VMS provider, with an average of 750,000 daily users and a network of thousands of suppliers. While VMS solutions have generally not been widely adopted outside of North America, IQN is notable for its global footprint: With “more than 45% of customers’ services spend … from outside the US,” IQN can serve customers in 125 countries (49 localized) and 16 languages.
Enterprise contingent workforce management programs and MSPs use IQN to facilitate and control their internal demand for and external supply of contingent workforce (primarily provided by staffing suppliers of temporary labor and suppliers of SOW services). The software allows business end-users to initiate requisitions for contingent workforce, and it ensures that sourcing will occur through managed suppliers under agreed upon terms. Besides enabling the engagement and onboarding of contingent workers, it also ensures appropriate payments to suppliers with A/P integration, effectively functioning as a source-to-pay (S2P) system. Because the entire S2P lifecycle of contingent workforce/labor services is transacted on the IQN system, the accumulation of valuable data and analytics becomes a key benefit to users of the platform.
In the past year, recognizing the rapidly evolving contingent workforce space, IQN has signaled its intent and vision to leverage its advanced open architecture and APIs to extend itself beyond the traditional model of a system geared to managing suppliers or vendors to become a much broader platform that enterprises can turn to manage all of their extended workforce requirements. This represents a shift from acting simply as a transactional system of record to functioning as a system of engagement that can support an integrated ecosystem of service partners and other platforms to configure next-generation contingent workforce solutions that go beyond temp staffing and SOW services. IQN has already begun developing that ecosystem with a range of complementary service and platform partners and is also increasing its investment in data management and analytics.
IQN is a leader among contingent workforce supply chain technology providers that has demonstrated ongoing success and the ability to adapt and innovate.