PRO Unlimited Launches Industry’s Most Powerful DaaS Solution for Real-Time Labor Rate Data
POSTED BY PRO UNLIMITED | MAY 17TH, 2021
Today, we launched our new Data-as-a-Service (DaaS) solution. Available for over 160 markets worldwide, PRO’s DaaS solution provides organizations with the most comprehensive hiring intelligence, enabling a dramatic optimization of the $4T+ annual spend on contingent labor globally, and a massive weapon in the war for talent.
While the Human Capital industry has a very robust and mature provider ecosystem of data for full-time employment (FTE) salary intelligence, from market leaders like AON, Mercer, Payfactors, ADP, Salary.com, among others, they have historically only covered the 50% of the workforce that is FTE. We deliver the same robustness for the other 50% of the workforce that remains contingent. PRO’s data set is unprecedented. It includes 30B+ data points on 1.5B+ workers across 100,000+ job titles, 20,000+ specialty skills, 160 global markets, and represents over $560B in contingent spend. Filling this void is a major step for the ever-increasingly strategic and important contingent workforce industry.
A lack of business intelligence has prevented organizations from fully optimizing hiring decisions, resulting in significant unnecessary spend through paying higher market rates by role and/or location and significantly lower overall quality of talent. Our DaaS solution helps organizations overcome these challenges and delivers streamlined, higher-quality talent acquisition as well as hundreds of millions of savings annually for the largest enterprises in the world.
This data includes market rates for staff augmentation and SOW professional services, salaries for full-time positions, and hiring intelligence such as candidate supply/demand information. Clients can use this data to answer questions about how much to pay for a resource, where to source, how rates are moving over time by location, how difficult it is to hire in different markets, and more. Depending on a client’s needs, PRO’s leading-edge machine-learning and AI capabilities can be applied to its data set to reveal additional insights such as job taxonomy optimization as part of the DaaS offering.
We will continue to offer this unique data set through our own SaaS solutions such as Wand Vendor Management Software (VMS), RatePoint Hiring Intelligence, and DirectSource PRO (PRO’s Direct Sourcing solution). PRO will also enable pure DaaS via API access so its customers can utilize this data in their other mission critical HR, ERP, Procurement, Data, and/or Analytics systems.
The foundation of our DaaS solution is the world’s largest, most accurate data repository ever assembled in the industry. To achieve the highest data quality, coverage, and scale, PRO integrates multiple sources, including:
- - Massive Database of Anonymous First-Party Data: This proprietary, highly sought-after data set encompasses hundreds of thousands of jobs being filled globally, along with all the submittals across those positions.
- - Acquisition of PeopleTicker: In December 2020, PRO acquired PeopleTicker's data science and market rate intelligence solution, which has enabled HR, talent acquisition, procurement and compensation professionals to access strategic insights and market rate benchmarking to better attract and retain talent while reducing costs across 160 countries.
- - Trusted Third-Party Partners: To maximize the geographic scope of its data, PRO also partners with leading market data firms.
- - Validated Public Data: This includes global government, public sector and salary survey data.
- - Vast Supplier Network: Because of PRO's unique purely vendor-neutral approach, our 7,000-plus supplier partners share rate data with us that provides additional hiring intelligence.
Pulling these sources together adds up to the most complete, far-reaching market rate data set in the world, but PRO doesn’t stop there. To ensure the highest levels of data accuracy and widest geographic reach, we leverage 30+ years of experience and an industry-leading team of compensation experts to validate and calibrate the data. These experts include:
- - Data Science Team: Data scientists and engineers that leverage advanced technical skills to scrape, ingest and sanitize the data. This team also creates proprietary algorithms to match and score data via APIs.
- - Compensation Analytics Team: Analysts focused on labor pricing data and client delivery with the goal of ensuring the data is reasonable, reflective of market conditions, and tailored to client strategies.
- - NorthStar HCM: Business consultants and data experts that advise clients on the best ways to leverage, understand and take action on DaaS solutions.
- - Skills Village: 600-plus compensation analysts on six continents that validate and calibrate market rates, providing market intel for global markets.
As the unmatched industry leader in contingent workforce management data, we are constantly expanding our cross-client data set. Our DaaS solution is available now to all PRO customers and select partners.
If you’re interested in learning more about how PRO is helping organizations implement winning contingent workforce programs globally, please contact a PRO representative at 800.291.1099 or email at firstname.lastname@example.org.
Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of PRO Unlimited and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.