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STATEMENT OF WORK (SOW) MANAGEMENT
With a dramatic increase in both the number and scope of engagements being contracted under a Statement of Work (SOW), many organisations are seeking to better manage this growing area of spend.
However, the expression ‘SOW’ has become detached from its origins as a project management term and it is now regularly misused as the catch all descriptor for a type of business spend.
The reality is that:
- Organisations do not buy an SOW, they buy the services covered by the SOW,
- You will never find a single business owner for SOW spend within an organisation, and
- You will never find a single procurement lead for SOW spend
The changing world of SOW management
The SOW workforce encompasses all types of non-permanent service providers in the supply chain, from the largest global players through to individual consultants. Market trends are starting to have a profound impact on the way that organisations now deliver services to their customers and how they utilise SOW based support e.g.
- Many SOW workers now work this way as a career and lifestyle choice.
- Traditional services provision is becoming far more modularised – more and more companies see themselves as ‘solution providers’ and incorporate ‘consulting’ or ‘advice’ within their propositions.
- Big brand service providers are themselves going to market with a larger proportion of non-permanent workers. This can result in a hidden ‘margin on margin’ situation.
How to drive more value with Statement of Work management
Statement of Work Management can be delivered as a stand-alone service, or combined with a CMO offering, under a full scope MSP programme. With Hays Talent Solutions you can truly maximise the use and value of your flexible workforce by:
|Making budgets go further with engagement managers paying for a specific output||Improving speed to productivity with minimised time to contract and onboarding of SOW based resources||Creating incremental value for both parties with reduced supplier sales overheads|
|Becoming a ‘client of choice’ with fit for purpose procurement processes||Increasing speed of access to essential expertise, skills and resources||Ensuring the right type of SOW expertise is deployed for the right work|
|Reducing risk by controlling and governing compliance obligations|
A tailored approach to your Statement of Work management needs
Our service offering is configured to fit your level of maturity and ambition. Offering advice-based work packages to advance category expertise, decision making and ultimately maximise overall return on investment. Or simply focusing efforts on administration and reporting by leveraging your own VMS system.Contact us