Workforce Logiq Files for Sixteenth Patent: IQ Supplier Optimizer℠ First to Deliver Automated Company-Specific Talent Supplier Recommendations
Patent-pending innovation enables global clients to acquire the highest quality workers faster, and achieve key success and diversity metrics
ORLANDO–(BUSINESS WIRE)–Workforce Logiq, a global provider of AI-powered workforce intelligence, technology, and services, has filed for a patent on its IQ Supplier Optimizer℠ (IQSO), the first adaptive workforce management solution to give employers actionable, company-specific supplier insights. The prescriptive solution, which seamlessly integrates into Workforce Logiq’s Total Talent Intelligence® platform, including its proprietary Vendor Management System (VMS), is designed to automatically match requisitions with an organization’s existing and approved talent suppliers best suited to deliver against the specific role requirements. The optimizer also tracks an organization’s historical requisitions and recommends new talent suppliers to add to the supplier roster from those proven to successfully fill similar types of requests at other organizations.
“We’re bringing our dedicated data science team and predictive capabilities to the supplier experience to ensure our clients always have fast and reliable access to the best talent for their unique needs,” said Jim Burke, Workforce Logiq’s CEO. “Organizations typically review their suppliers quarterly and optimize rosters through manual analysis. Our new solution automates the time-consuming process for on-demand, data-driven optimization, freeing up our expert advisors to do what they do best – help clients build an optimal workforce. The algorithm runs in real-time and constantly learns and adapts its recommendations based on continuous supplier performance data.”
The AI-powered supplier network optimization and recommendation engine automatically maps clients’ specific job requisition requirements – such as skillset, education, prior experience, salary range, geographic preferences, diversity expectations, and more – to pre-approved suppliers within their own Managed Service Provider (MSP) program with proven ability to deliver quality candidates quickly and help the organization achieve key performance metrics. The matching is based on supplier capabilities and real-time supplier performance data. The IQ Supplier Optimizer then automatically optimizes the distribution of requisitions to the highest-performing and best fit talent suppliers.
The algorithm also constantly analyzes performance data across Workforce Logiq’s 8,000+ supplier partners in its global network to suggest new talent partners to be potentially added to a client’s roster, based on the supplier’s proven ability to deliver on relevant requirements and similar requisitions. Recommendations for talent supplier additions will still follow a pre-approved, client-specific process for vetting and final decision-making.
“This latest innovation ultimately drives higher levels of client satisfaction and success. By rewarding excellence and tapping our top supplier partners, including our proven performers, across more programs, all our clients are equipped to win and retain quality talent faster, and more cost effectively,” added Burke.
The new IQ Supplier Optimizer will be available globally in the third quarter of 2021.
Workforce Logiq’s continued commitment to provide its clients with innovative workforce management solutions delivered through its Total Talent Intelligence® platform earned the company first place honors in HRO Today’s Baker’s Dozen Rankings for the second straight year.
About Workforce Logiq
Workforce Logiq, a global provider of AI-powered workforce intelligence, technology, and services to large corporations, enables organizations to win and retain the talent they need to grow. With clients in 50+ countries, Workforce Logiq provides expert guidance, real-time and predictive analytics, and patented and award-winning technologies. Workforce Logiq’s universal sourcing solution addresses all elements of its clients’ acquisition and retention programs, including contingent (MSP), full-time (RPO), and freelance/“gig” (FMS) workers. Backed by global investment firm The Carlyle Group, the company helps clients attain greater management, performance, and financial control over their talent supply chains.
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