A Simplified Look at the Rise of Statement of Work (SOW) Spending and Understanding the Technology Necessary 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.