The next step in the evolution of Statement of Work (SOW) services is here. As the use of contingent labor and third-party services continues to grow, a SOW/services procurement solution must adapt to remain relevant and deliver the value that clients need and are asking for. Traditionally, an SOW/services procurement solution has operated as a bolt-on to MSP, providing visibility into headcount and spend, helping businesses to pay their suppliers and better manage their spend. These fundamentals will remain, but the time has come for this solution to become a true outsourced procurement service offering, capable of operating both in conjunction with and independently of an MSP program. A standalone SOW program can help ensure that Procurement has a proven and consistent process for all services and labor spend under its control and that Procurement and HR partner effectively to deliver full value to the organization. The implementation of a SOW/services procurement solution better enables Procurement to effectively manage a broader scope of spend and leverage procurement best practices for the benefit of the organization, in line with business objectives.  

An SOW/services procurement solution can work independently of a traditional MSP – whether it’s internally managed, or there isn’t one at all. In addressing broader services spend through a comprehensive solution, organizations can deliver tremendous value not otherwise being captured.

What are some of the results that can be delivered?

•Savings of 15-20% driven by a more competitive environment

•Savings of 10-15% thanks to proper classification of work

•Superior performance analytics, ensuring work is done on-time and on-budget

•Full visibility to supplier spend details and pricing

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