Introduction
The gig economy is transforming the way people work and how businesses operate, and SAP is no exception. As one of the largest providers of enterprise software in the world, SAP has been making moves to capitalize on the opportunities presented by the gig economy. In this blog post, we will discuss what you need to know about SAP and the gig economy, including an overview of the gig economy, how SAP is responding to the trend, and examples of companies using SAP to manage their gig workforce.
The Gig Economy — An Overview
The gig economy, also known as the on-demand economy or the freelance economy, refers to the increasing trend of people working in short-term, freelance, or contract-based jobs. Instead of working for a traditional employer, gig workers typically work for themselves or through a digital platform that connects them to clients or customers. The gig economy has been driven by advances in technology and the rise of platforms such as Uber, Lyft, and Airbnb.
According to a study by Intuit, 43% of the US workforce will be working in the gig economy by 2020. The gig economy is expected to continue to grow, driven by factors such as the desire for flexibility and autonomy, the ability to work from anywhere, and the ability to pursue multiple income streams.
SAP and the Gig Economy — How SAP is Responding
SAP is a multinational software corporation that provides enterprise software to manage business operations and customer relations. As the gig economy continues to grow, SAP has been adapting its offerings to meet the needs of companies that are using gig workers. Here are some ways that SAP is responding to the trend:
Offering cloud-based solutions for workforce management
SAP has been developing cloud-based solutions that allow companies to manage their workforce, including their gig workers, more efficiently. For example, SAP SuccessFactors provides a cloud-based solution for human capital management that includes tools for managing recruiting, onboarding, performance management, and learning and development. SAP Fieldglass is another cloud-based solution that provides vendor management system (VMS) capabilities for managing contingent labor.
Integrating with digital platforms
SAP has been integrating its solutions with digital platforms that companies use to manage their gig workforce. For example, SAP Fieldglass has integrated with platforms such as Upwork, WorkMarket, and Freelancer.com to allow companies to manage their freelance workers more easily. SAP Ariba, a cloud-based procurement platform, has also integrated with Upwork to allow companies to find and hire freelance talent.
Providing analytics and insights
SAP is providing analytics and insights to help companies make data-driven decisions about their gig workforce. For example, SAP Fieldglass provides real-time analytics on workforce spend, utilization, and performance, which allows companies to optimize their use of contingent labor. SAP SuccessFactors provides insights into the skills and competencies of the workforce, which can help companies identify skill gaps and develop training programs.
Examples of Companies Using SAP to Manage Their Gig Workforce
Here are three examples of companies that are using SAP to manage their gig workforce:
Accenture
Accenture is a global professional services company that provides consulting, technology, and outsourcing services to clients in a range of industries. Accenture has a large contingent workforce, including both contract workers and freelancers. Accenture is using SAP Fieldglass to manage its contingent labor, including sourcing, onboarding, and payment. SAP Fieldglass has allowed Accenture to streamline its procurement processes and gain visibility into its contingent labor spend.
Procter & Gamble
Procter & Gamble is a multinational consumer goods company that produces a range of household and personal care products. Procter & Gamble has a large workforce, including both employees and contractors. The company is using SAP Ariba to manage its procurement processes, including the procurement of freelance talent. SAP Ariba has allowed Procter & Gamble to find and hire freelance talent more easily, and to manage the entire procurement process in a single platform.
Allianz
Allianz is a global insurance company that provides a range of insurance and asset management products and services. Allianz has a large contingent workforce, including both temporary workers and freelancers. The company is using SAP SuccessFactors to manage its workforce, including its contingent workers. SAP SuccessFactors has allowed Allianz to streamline its recruiting and onboarding processes, and to gain insights into the skills and competencies of its workforce.
Conclusion
The gig economy is transforming the way people work, and companies like SAP are adapting to meet the needs of companies that are using gig workers. SAP is providing cloud-based solutions for workforce management, integrating with digital platforms, and providing analytics and insights to help companies make data-driven decisions about their gig workforce. Companies like Accenture, Procter & Gamble, and Allianz are using SAP to manage their gig workforce more efficiently, allowing them to focus on their core business and improve their bottom line.
As the gig economy continues to grow, it is likely that more companies will turn to solutions like SAP to manage their gig workforce. By embracing the gig economy and using technology to manage their workforce, companies can gain a competitive advantage and thrive in the ever-changing business landscape.
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