Statement of Work Spending and the Technology to Support It
The humble vendor management system (VMS) has come a long way.
Yet, many procurement organizations still find themselves in the midst of an evolution—from using a VMS to manage staffing firms, to leveraging this same technology to actively manage and influence broader services procurement spend.
Most organizations’ SOW/services procurement management is at a very early stage of maturity, but leading organizations will achieve significant advantages by moving up the maturity curve through tactical and onto strategic management SOW services.
This is a big shift—and it’s one we should not take lightly.
Understand the seismic shift taking place—from traditional contingent labor to other emerging services across the full spectrum of an organization’s requirements
Learn how to move from tactical program approaches to strategic models that truly influence and improve SOW spending
Read recommendations from Spend Matters about how to follow strategic technology components for SOW management
Take “The Solution Test” to see if your technology is ready to support strategic SOW management.
At certain organizations, the services spend mix can be as high as 80 percent SOW, 20 percent contingent. Yet, far too often, organizations fail to gain the visibility needed for strategic services spend management because they are using an incomplete or disjointed set of technologies to enable SOW management.
Leading procurement organizations are finding that using the right set of core technology for the job is essential because the services lifecycle for SOW activities is as specialized and complex—arguably, significantly more so—than contingent workforce/staffing spend alone.
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An Introduction to Funding Models and Pricing Methods for a Vendor Management System (VMS)