The pandemic has caused much disruption to businesses in every aspect, with many organizations still struggling to assess and respond to changes affecting their services procurement and statement of work (SOW) engagements.
Buyers are asking questions such as: Which service providers are best positioned to deliver virtually or overall? What are the effects of “force majeure” or catastrophic default clauses? With projects being cancelled, what has been delivered and what has been paid for?
These are all some of the key concerns that managed service providers (MSP) can help address to protect the buying organizations’ best interests, according to Scott Brewer, global SOW practice lead and vice president, contingent workforce solutions at Randstad Sourceright.
“By leveraging the expertise of their MSP, buying organizations can engage a trusted partner that brings the needed expertise, marketplace insight, and policy and contractual advisement to guide their overall service procurement life cycle,” writes Brewer.
Read the full article in Spend Matters for more insights on SOW management in the COVID-19 era. You can also get your exclusive copy of the white paper, “Managing service provider spend: a practical approach to SOW talent management,” to learn more about the benefits of integrating SOW management in your MSP.