new hire will build upon company's position as a market leader in SOW services procurement space
ATLANTA, Aug. 11, 2021 — Randstad Sourceright today announced that it has appointed Paul Vincent as global head of services procurement. In this new role, Vincent will be responsible for developing and evolving Randstad Sourceright's overall statement of work (SOW) strategy by driving the growth of its SOW practice and elevating its go-to-market model across Randstad group's client base.
The appointment of Vincent as global head of services procurement comes on the heels of Randstad Sourceright being named as a Major Contender on the Everest Group Services Procurement / SOW PEAK Matrix® Assessment 2021. In his new role, Vincent will bring together Randstad Sourceright's existing SOW subject matter experts and work collaboratively with sales and operations leaders to spearhead sales and delivery efforts both globally and regionally. This includes establishing an SOW Center of Excellence to elevate best practices, drive client innovation and increase learning across the group that will be led by Randstad Sourceright's market-recognized SOW management expert Scott Brewer.
"We are excited to have Paul Vincent join the Randstad Sourceright leadership team as we work toward accelerating our growth in the SOW services procurement space," said Mike Smith, Global CEO of Randstad Sourceright. "We're dedicated to investing in deep expertise to meet growing employer demand for business agility through smart SOW solutions and further solidify our position as an SOW market leader. We're confident that Paul, with his extensive business experience and in-depth insight in the workforce solutions industry, will help us achieve these goals."
As organizations around the world continue to face critical talent shortages, SOW based service providers are likely to represent a large share of the labor force now and in the future. According to Everest Group, services procurement spend by managed service providers (MSPs) continues to show more than 20 percent year on year growth, representing a global market size of approximately $45 billion. In their recent report, MSP 4.0: From Contingent Workforce Management to Contingent Talent Empowerment, Everest highlighted the importance of combining the right people expertise – such as category managers with strategic sourcing expertise – with digital capabilities like analytics tools to deliver SOW effectiveness end to end.
"I am thrilled to join Randstad Sourceright to help our clients around the world fully leverage the value of SOW-based services within their overall workforce strategies," said Vincent. "Our tech and touch combination of deep talent analytics in the hands of experienced services procurement practitioners will ensure organizations get maximum return on their project-based work and business investments."
Based in the United Kingdom, Vincent has held a number of roles across the SOW and services procurement landscape for more than three decades, serving as a procurement lead, project owner, budget holder, consultant, and managed service provider. Prior to joining Randstad Sourceright, Vincent spent three years with KellyOCG and two years with Hays Talent Solutions, focusing on the supply side of the workforce solutions industry. He also spent six years running his own consultancy practice, where he helped a wide variety of organizations buy and sell professional business services more effectively. He has been a fully qualified member of the Chartered Institute of Procurement & Supply (CIPS) for more than 20 years and is Black Belt trained in Lean Six Sigma.