Magnit
Magnit is a global workforce management firm providing contingent workforce solutions, MSP services, vendor management systems, and AI-powered platforms across 130+ countries.
Magnit, founded in 1991, is a global provider of workforce management solutions for contingent workforces. The company's core services span compliance, cost control, payrolling, managed service provider (MSP) operations, vendor management, services procurement, and direct sourcing. It operates in over 130 countries, serving more than 600 clients and managing upwards of 900,000 contingent workers.
The company has a history of introducing foundational industry solutions. In 1994, it pioneered the vendor-neutral MSP model, allowing clients to select their own talent providers. By 1995, it had launched PeopleNet, one of the first fully automated vendor management systems. Its early innovations also include what is described as the industry's first third-party payrolling service for contingent workforce management.
Magnit's technology offerings have evolved to include AI-powered workforce platforms. The company's central platform, rebranded as Magnit in 2022 (formerly PRO Unlimited), is positioned as a holistic, outcome-driven system for managing the modern workforce. The company's technical domains include vendor management systems, automation, and AI-powered workforce platforms.