nextSource, Inc.

nextSource, Inc. is a Managed Services Provider (MSP) that specializes in optimizing contingent workforce management through comprehensive solutions, enhancing efficiency and compliance for diverse industries. nextSource, Inc. was founded in 1998 and is headquartered in New York, US.

The company focuses on providing managed services to optimize workforce management for external talent. Catherine Candland serves as the CEO. In August 2013, nextSource was recapitalized by H. I.

G. Capital and Prudential Private Capital, with financial terms undisclosed. nextSource specializes in Managed Services Provider (MSP) solutions aimed at optimizing the management of contingent workforces. Their primary offerings include comprehensive workforce management solutions that streamline the sourcing, compliance, and administration of temporary talent.

These services address critical business needs such as alleviating administrative burdens faced by human resources and procurement departments, ensuring compliance with labor laws, and enhancing access to specialized skills. The company's solutions cater to a diverse clientele, including sectors like financial services, higher education, technology, and life sciences. nextSource operates in various geographical markets, providing its services across North America and expanding its reach into international markets, thereby serving a broad spectrum of organizations seeking efficient workforce management. Revenue generation for nextSource primarily comes from B2B transactions with enterprises seeking to manage their external workforce efficiently.

Clients engage with nextSource through structured partnerships where organizations may opt for service agreements involving tailored MSP packages. These packages can include support for temporary staffing, employer of record services, and independent contractor management. While specific pricing details for these offerings are not disclosed, companies typically enter into contractual arrangements where costs are aligned with service levels and the number of contingent workers managed. nextSource leverages its expertise to ensure clients achieve a return on investment through operational efficiencies and cost management.

The latest funding round completed in August 2013 will be leveraged to support nextSource's expansion plans and enhance its service offerings. The company is focusing on developing new products designed for better integration of technology in workforce management. Additionally, nextSource aims to penetrate international markets beyond its current operational areas, with specific strategies targeting expansion into Europe and Asia by the end of 2025.