SAP Acquires Contingent Workforce Management Leader Fieldglass
SAP has announced its intention to acquire Fieldglass, a leading technology provider of contingent labor and services. By adding Fieldglass’ cloud-based vendor management system, SAP is better able to meet demand among employers to manage flexible workforces with quick on-boarding and engagement of both temporary and permanent staff. The acquisition allows SAP to deliver a management platform covering initial recruiting and on-boarding to ongoing development, performance management, retention, and retirement.
The combined solutions of SAP and Fieldglass will provide companies with software and collaboration tools and networks for engaging workforces on the fly in innovative ways. This includes providing a comprehensive and flexible approach to managing the entire workforce and life cycle, eclipsing the traditional focus on the employee record.
“The acquisition of Fieldglass creates a compelling advantage for SAP customers as they access, attract and manage talent via the networked economy,” said Bill McDermott and Jim Hagemann Snabe, co-CEOs and members of the Executive Board of SAP AG. “This move reaffirms SAP as the undisputed leader of integrated human resources and procurement in the cloud for businesses of all sizes and industries. Combining Fieldglass with SAP is a significant milestone in our strategy to help businesses simplify everything.”
“Joining with SAP will allow us to dramatically accelerate our global growth plans and pace of innovation at the unique intersection of the human capital and procurement sectors,” said Jai Shekhawat, CEO and co-founder, Fieldglass. “SAP’s innovations in cloud, in-memory and mobile technology are transforming workforce management. We look forward to extending our leadership position, increasing our sales and delivery capacity and introducing our winning strategy to new markets.”
The transaction is expected to reach completion during the second quarter of 2014.