Statement of work (SOW) engagements often account for a significant portion of most employers’ spend, which means there is an opportunity for organizations to achieve significant cost savings if they enhance the way they manage SOW.
But which way is the best way? How can procurement leaders choose which providers to work with? Paul Vincent, global head of services procurement at Randstad Sourceright, shares his insights and tips in a recent interview with The Future of Work Exchange.
“There is still quite a big difference between an MSP who really understands the nuances of the services procurement landscape versus one that fundamentally still treats this part of the workforce as a subset of an organization’s contingent staffing population,” says Vincent.
He advises organizations to look for an MSP who “can give them speed, simplicity, ready access to the highest-performing and most innovative service providers,” rather than one that only focuses on classification, compliance and control.
Vincent also believes that an MSP “should be delivering value throughout the entire SOW life cycle … across the project definition, delivery, and evaluation phases,” instead of just limiting their services to the supplier selection and contracting phases.
Read the full Q&A interview with Vincent in The Future of Work Exchange to learn more about the evolving services procurement landscape. You can also watch our “SOW what?” video series to learn more about the importance of SOW management and how to get started.