Afternoon Coffee: Global supply chains disrupted by changing consumer habits; PRO Unlimited, Eightfold AI partner for contingent workforce diversity; Jaggaer, TransferMate team up for quick payments

Sasajo/Adobe Stock

One year after the coronavirus threw supply chains into disarray, global supply chains are once again facing fresh shipping headaches — delaying US exports, crimping domestic manufacturing and threatening higher prices for American consumers, according to Microsoft News Money.

The cost of shipping one container of goods rose 80% since early November and tripled over the past year. These increases reflect the dramatic shift of consumption during the pandemic — as consumers redirect money that was once spent at restaurants or movie theaters to the purchase of record amounts of imported clothing, computers, furniture and other goods.

The chaos is just the latest hiccup in globalization’s engine, capping more than a decade of financial crisis, trade wars, contagion and recession, the article said. Issues from the pandemic are exposing vulnerabilities in the physical plumbing of cross-border commerce that can linger.

“It’s crazy. Prices are at record highs. Multiple things are happening all at once,” Phil Levy, an economist with Flexport, told MSN Money. “People work off of expectations. But now there’s just so much uncertainty.”

PRO Unlimited, Eightfold AI announce partnership to improve diversity in contingent workforce

PRO Unlimited, a workforce management solution provider, announced a partnership with Eightfold AI, a talent intelligence provider, according to a press release.

PRO Unlimited will embed Eightfold’s artificial intelligence technology into its contingent workforce management platform to monitor customers’ contingent hiring practices — especially looking at things like vendor management, direct sourcing and diversity and inclusion offerings. It will aim to enable more informed hiring, diversity and redeployment of workers.

As the US economy continues to rebound, it’s likely many companies will turn to the contingent workforce while prioritizing certain areas within hiring, like retention or diversity and inclusion initiatives.

"Today, the modern workforce is massive, with roughly 43% of all skilled white-collar workers being contingent vs. full-time employees," said Kevin Akeroyd, CEO of PRO Unlimited. "Many organizations are aggressively and strategically pushing that number to 50% or 60% while simultaneously shifting to more and more diverse candidates. Within this expanding workforce segment, there is a huge opportunity to harvest the enormous amount of PRO's data, deploy world-class machine-based learning to that data, and ultimately utilize it to make the process, quality, intelligence and cost of this massive modern workforce far superior than it is today.

"We are excited to partner with a company that uses industry-leading AI technology to truly understand a candidate's skill set or D&I attributes while generating recommendations to help inform hiring decisions."

Jaggaer, TransferMate team up for quick payments

Jaggaer, a spend management solution provider, announced a partnership with TransferMate, a B2B payments firm, to integrate and extend the solutions from “source to pay” to “source to settle.”

TransferMate has a large portfolio of payment licenses worldwide, according to a press release announcing the partnership. Jaggaer customers who use TransferMate for international wire transfers will be able to book a payment in real time. Within the process, the buyer can avoid payment fees while getting the payment faster and more securely. The system enables mass outgoing and incoming payments, helping users avoid the potential financial losses by payments in transit, which can take many days.

“Thanks to this agreement, we can now offer Jaggaer customers and their suppliers improved tracking, reconciliation and speed of processing or receiving cross-border transactions in 134 currencies,” Jaggaer CEO Jim Bureau said in the press release. “That means seamless integration from source to settle.”

Terry Clune, Executive Chairman of TransferMate, said in the press release: “Our current and future joint customers have a common interest in reducing transaction costs and increasing process efficiency. We are therefore pleased to integrate our award-winning international payments capabilities with the Jaggaer ONE platform. With this partnership we can deliver significant savings via highly competitive foreign exchange rates and ease the burden of processing transactions on finance teams.”

See more Spend Matters' coverage of TransferMate and Jaggaer:

The Spend Matters global monthly newsletter for January went out this month! Are you on the list? Don't miss out for 2021!

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.