Chicago—Oct. 6, 2011— Fieldglass, Inc., a technology provider to procure and manage contingent labor and services, announced a new joint research initiative with Spend Matters to help define, understand and optimize the role of Statement of Work (SOW) projects in today’s services procurement landscape.
The first paper, “A Statement of Work (SOW) Backdrop – The Foundation of a Business Case,” is now available online here.
“Gaining visibility and control over SOW spending and reducing costs for both complex and basic services categories represents a truly massive opportunity for many organizations,” said Jason Busch, Executive Editor, Spend Matters. "Fieldglass provided a wealth of insight and customer contacts for us to work with in this research initiative and we're excited to publish our joint findings and recommendations."
In addition to contingent labor, independent contractors and specialized talent pools, the Fieldglass solution has helped companies manage a broad mix of service categories and vendors—including SOW projects—for more than 10 years. The solution offers robust sourcing and procurement controls to automate the entire services lifecycle. Fieldglass customers use the solution to manage a wide variety of SOWs, from IT contractors and business consultancies to security guards and cafeteria workers.
The first report provides an overview of the current SOW landscape and offers insight into how best-in-class companies are using these workers effectively. From the research, readers will learn how to build a business case to support the use of SOWs, and how to most effectively utilize them within their own services procurement programs. Much of the content is derived from user interviews and case studies, representing a large, diversified group of organizations actively using SOWs.
Supporting the need for this type of research, the 2011 Aberdeen Contingent Labor Management study found that more than 25 percent of contract work is tied to an SOW. Further emphasizing the point, staffing industry analysts expects utilizing SOWs to be one the strongest labor trends over the next two years.
“While many of our customers have been using SOWs successfully for years, incorporating these workers has been one of the most prominent procurement strategies over the last 18-24 months for both new and longtime customers,” said Jai Shekhawat, CEO, Fieldglass. “More and more firms are looking to increase flexibility within their procurement programs, and when managed and used effectively, SOWs can be quite an efficient and cost-saving option.”
For more information, visit www.fieldglass.com.