Magnit has announced the evolution of the Magnit Platform, now powered by GenAI. With this new platform, Magnit continues its 30-plus year history of innovation by seeking to solve common challenges in the industry, including complexity, inefficiency, and a lack of strategic focus by leveraging AI and combining data, sourcing and intelligence into a unified experience.
The Platform aims to deliver business outcomes at speed by integrating industry-leading capabilities from recent acquisitions, including pay and talent intelligence, blue-collar and shift-based workforce management, and more, into a single platform. Organisations can expect an accelerated time to hire through streamlined workflows, optimised contingent workforce spend supported by global pay intelligence data, robust compliance framework that ensures adherence to labour regulations, and greater access to multiple talent channels.
“The challenges of traditional contingent workforce management are all too common: complexity, inefficiency and a lack of strategic focus. Organisations often grapple with manual and repetitive tasks, fragmented data, and slow hiring processes, all of which impede productivity and growth,” said Vidhya Srinivasan, Chief Product & Marketing Officer at Magnit. “Our platform removes the chaos and empowers users to reach their most ideal business outcomes – simply and effectively. By tapping into a vast data ocean, industry expertise and multiple talent sourcing channels, companies can now optimise their workforce for maximum impact.”
The Magnit Platform consists of three core layers:
System of Engagement: Features Maggi, a new GenAI companion that simplifies contingent workforce management by automating tasks and delivering actionable insights.
System of Action: Provides intelligent orchestration and automation of workflows across critical workforce management processes, including sourcing, recruitment, onboarding, payroll, and compliance.
System of Record: Leverages Magnit's expansive data ocean, curated by industry expertise, and AI/ML capabilities to provide data-driven insights and enable faster, more informed decision-making.
“In an industry where following the status quo is the norm, Magnit has consistently chosen a different path, embracing innovation and change. It’s time to simplify the way we work. Magnit Platform manages workforce management complexity, scales access to talent and harnesses the power of AI/ML to future-proof how organisations find and build the most effective workforce to accomplish their business goals,” concludes Srinivasan.
