German tech firm SAP announced plans to acquire contingent staffing software maker Fieldglass. Terms of the deal, which is scheduled to close in the second quarter, were not disclosed.
Fieldglass’ cloud-based vendor management system meets the growing demand among employers to manage flexible workforces that can be quickly engaged and on-boarded to support rapidly changing business and customer needs, according to an SAP release announcing the March 26 deal.
Combined with the collaborative, network-based procurement capabilities of Aribaand the human resources expertise of SuccessFactors, the acquisition uniquely positions SAP to deliver a platform for businesses to manage their entire workforce — both temporary and permanent staff — from initial recruiting and on-boarding to ongoing development, performance management, retention and retirement, SAP said.
The combination of Fieldglass’ market-leading VMS solution with SAP promises to transform workforce management. It will enable a flexible and comprehensive approach to managing the entire workforce and life cycle, beyond the traditional focus on the employee record that characterizes many systems today, SAP said.
Contingent labor and statement-of-work services is a US$3.3 trillion, high-growth market according to industry analyst estimates.
Fieldglass will continue to build out its global team and operations and retain its identity and continue to operate independently as an SAP company in its cloud line, according to a press release.