why is SoW important
As well as the enormous human impact, the Coronavirus pandemic has challenged, and will continue to challenge businesses around the world for months, if not years to come. Never before has organisational agility been tested in such extreme circumstances and as we move into a post Covid-19 economy, the businesses that can innovate, pivot and reinvent themselves the quickest will be those that come through the other side stronger than ever.
At Randstad our SOW Centre of Excellence has developed a cutting edge digital statement of work solution that empowers organisations to leverage the outcome based workforce not just to survive, but to thrive in the post Covid-19 economy. So how can SOW help your organisation?
A comprehensive SOW solution empowers organisations with the right skills to design and deliver new solutions, products and services rapidly. Dysons ability to change their production line to produce ventilators was down in part to their ability to quickly access new teams of skills and capabilities. Being able to identify and then take advantage of commercial opportunities that arise, demands an agile workforce that can be rapidly deployed in a compliant, effective way.
Our on demand digital SOW solution gives access to pre-qualified Consultants and Delivery Teams via a platform, to ensure you have the capabilities you need to survive and thrive in the post Covid-19 economy.
The pandemic has driven organisations to rethink their approach to risk. In a buoyant economy, organisations typically take a more liberal approach to risk, but that luxury can no longer be afforded. Organisations must mitigate risk in those areas that sit outside their “core expertise”, and doing so is made simple and effective through the use of an SOW solution. Attributing the risk to a third party is a simple and effective way to protect your organisation from unwanted legal implications.
The Randstad SOW solution can absorb unwanted risk from your organisation, and augment your existing expertise with the ability to quickly outsource elements of your projects. Furthermore, by outsourcing risk, we empower our customers to focus on what they do best.
pay for a tangible outcome.
Outcome based SOW’s are a perfect opportunity to add predictability to an unpredictable time. Pre-agreed deliverables and milestone based payments schedules make forecasting easier, and adds an element of control to your spending and project goals. Most organisations are doing everything they can to preserve and predict cash flow, and a comprehensive SOW strategy aligns with this goal perfectly.
Using our platform, clients get access to all the accountability data; progress reports, performance metrics and cost control mechanisms, meaning you can be assured of full control in the delivery process and a transparent, predictable cost.
scale up and down easily.
Most organisations have seen some kind of Covid induced fluctuation in their on and off payroll workforce, and recognise that a Contingent Workforce Strategy is no longer just a nice to have. Leveraging SOW solutions, organisations can access the specialist skills, technology and process they need to grow, shrink and change direction rapidly, without incurring any time or cost penalties.
Our SOW solution can be used for small project teams,or complex, global organisations. The solution is built to make it simple to scale according to the economic conditions and market demands. Whether deploying 500 Consultants, or 5, we can help you achieve this with minimal disruption to your business as usual.
Covid -19 has forced organizations to look seriously at cost control. With SOW labour costs typically 65% larger than freelance, interim and permanent labour costs put together, they represent an enormous opportunity to save money.
Controlling this cost, and working with an SOW challenger like Randstad to supply or manage the SOW process can create double digit savings in year one. For a free audit and review, get in touch.
SOW is a key part of any Contingent Workforce Management strategy, and if your organisation or team does not yet have the framework in place to acquire and manage SOW based labour quickly and compliantly, then you may be missing out on a huge opportunity.
The Randstad SOW solution has been designed based on research and insights from over 600 managed service clients globally. Our modular approach to SOW makes it as flexible as possible to understand and implement, and our primary goal is to arm your organisation with an agile workforce solution that is accountable, transparent and cost effective.
Our Global SoW Centre of Excellence comprises two solutions;
Randstad SOW Enterprise helps customers centrally control their SOW buying process, optimise the buying journey and cut costs.
Randstad SOW Projects delivers niche on-demand skills and project teams via our platform in a transparent, agile and cost effective way.