Procurement Expertise Platform Palambridge to Use Direct Sourcing Exchange MBO Connect

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Palambridge, which describes itself as a virtual platform of procurement experts and intelligence, has announced that it will be using MBO Partners’ MBO Connect solution.

MBO, the leading U.S. provider of compliance and engagement services for independent professionals and enterprises, launched the MBO Connect independent professional engagement platform in October 2015, and has since expanded MBO Connect as a direct sourcing exchange that enables the effective management and coordination of preferred talent networks. Palambridge, launched earlier this year, is now pioneering the procurement expertise and information service platform market (see earlier Spend Matters coverage of Palambridge here and here).

The relationship with MBO Partners means that Palambridge has adopted a state-of-the-art digital platform to enable intermediation of flexible work arrangements and deliverable based consulting engagements between its procurement experts and its clients. According to the press release, “many procurement organizations are launching transformation efforts to increase their innovation potential to the enterprise.” The combination of the Palambridge model and MBO Partners’ technology and exchange platform “will ensure that talent is accessible and appropriately placed in response to demand.”

In recent years, there has been much discussion on emerging procurement talent shortages, the need for specialized procurement expertise on a contingent basis and the usefulness of external procurement services. In many ways, these challenges mirror those arising in other workforce segments across the economy, where digital platform-based contingent talent and services are becoming a part of the solution. In this era of the freelance and on-demand economy, many digital platforms already exist that enable matching and other intermediation processes between businesses and workers across an extremely large number of categories, such as marketers, software developers, writers and translators. At this point, the list seems virtually endless — but it has not included procurement professionals.

To be precise, Palambridge is not a stand-alone open marketplace or freelancer platform, such as Upwork. Rather, as a business, Palambridge is a broader platform-based procurement services provider that has adopted talent pool and matching technology to vet procurement experts, manage and optimize the client and expert engagements and increase lifecycle velocity. In this respect, today, it is an internal Palambridge management capability.

However, the current relationship with MBO does include the use case where Palambridge can identity and engage procurement experts within MBO’s growing, multi-discipline independent professional population of its Direct Sourcing Exchange. MBO, for its part, is actively building an ecosystem of different talent source platforms that digitally integrated with its Exchange (in this respect, the relationship with Palambridge could also be seen as a part of that ecosystem development).

"MBO Partners is leading the charge in connecting organizations with highly skilled knowledge workers in the gig economy," said Philip Ideson, co-founder and managing director of Palambridge. "The MBO Connect platform streamlines our process for identifying, vetting and onboarding subject matter experts. We are also able to access MBO Partners' own talent network as well as the MBO partner ecosystem of leading talent marketplaces. By utilizing MBO’s platform and ecosystem, Palambridge can increase the precision and the rate at which Palambridge can respond to client needs by matching the right people with the right projects.”

MBO Partners chief executive Gene Zaino stated: "We are excited to welcome Palambridge to MBO Connect. They emphasize agility and innovation in all procurement efforts. We are natural allies in the effort to optimize the use of highly skilled talent.”

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