Buying and managing services (rather than "goods") presents complex challenges for even the most mature procurement programs. When outsourcing to consultants and professional services firms (legal, marketing, etc.), the success of the project is often determined by the initial process and governance of sourcing, creating and managing the Statement of Work (SOW) contract itself. There are challenges to managing SOW spend, such as a lack of standardized measurement tools, disperse budget allocations and difficulties in determining value and return on investment (ROI). However, addressing this under managed spend is a fantastic opportunity, and one way to accomplish this is to build a solid SOW and contract.

Contributors: IQNavigator, McGraw-Hill
Categories: Summit Presentations
SRC Type: Contract Development, Sourcing