Cost-savings imperative is driving execs to eye SOW
Amid the economic fallout of the pandemic, the C-suite will be looking for areas within their organization to capture more cost savings. The CW program can deliver via a focus on SOW arrangements.
Benchmarks: Global SOW spend exceeds $500 billion
Businesses worldwide spent an estimated $523 billion on statement-of-work projects last year, according to SIA.
SOW in your program’s future? Prep is key
If handled correctly, incorporating statement-of-work management into your CW program can bring significant benefits, including managing costs and risk. But proper planning is critical.
Folding SOW into the CW program: Beyond rogue spend
From efficiency to visibility, incorporating statement of work has great benefits to the program. Here are some organizational drivers that are pushing programs to incorporate SOW.
Today’s MSP: Ruling the buoyant small, midsize market
Growth in the MSP market — representing $141 billion of spend under management in 2018 — slowed to an estimated 8% compared to 12% in 2017, according to SIA research. Despite the slowdown, interest in MSP remains.
CW trends that will continue to impact your program, part 2
In our last issue, we highlighted six trends that have taken CW programs to new heights. Here are five more.
Enhance your CW program: SIA Roadmap
Organizations looking to expand can use the SIA Optimization Roadmap, which provides individual activities necessary to establish CW program or improve an existing one.
Benchmarks: MSP SOW spend by occupation
Information technology represents the lion’s share of the reported SOW spend (51%) going through an MSP, according to the 2019 MSP Landscape & Differentiators report by Staffing Industry Analysts.
Moving SOW into your CW program, smartly
Lack of transparency into SOW puts your organization at risk. What to consider as you pursue incorporating services procurement into your CW program.
Benchmarks: Global Spend on SOW
SIA estimates SOW consulting to be worth roughly 13.5% of the total $3.68 trillion in contingent workforce spend in 2017.
