Randstad Sourceright Launches Services Procurement 360 SOW Management Service

Global talent solutions provider Randstad Sourceright launched Services Procurement 360, an enhanced statement of work (SOW) management service that allows business leaders to strengthen the link between talent acquisition and the utilization of project based expertise.

As organizations around the world continue to face record talent scarcity, service providers which are contracted via statements of work represent a growing share of the labor force. According to Randstad Sourceright’s 2022 Talent Trends research, which surveyed more than 900 human capital leaders around the world, 71% of businesses are shifting previously full-time positions to contingent, project or contract roles this year.

“Randstad Sourceright is committed to transforming the way that our clients can leverage and deploy their total workforce,” said Mike Smith, global CEO of Randstad Sourceright. “Our continued investment in a global services procurement center of excellence and our unique MSP 4.0 model — which offers innovation-led, technology-enabled and AI-driven workforce management services — provides customers with broader access to highly qualified professionals at a time when talent scarcity is at its highest levels.”

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Paul Vincent, global head of Services Procurement at Randstad Sourceright, added, “We wanted to make it much easier for organizations of all levels of maturity and ambition to benefit from a services procurement solution. We know that organizations will potentially have a different support need for different categories or levels of expenditure. So, we can now be very adaptable in allowing them to choose different and, if required, multiple combinations of support depending on where we can add the most value to their current approach.”

Randstad Sourceright’s comprehensive services procurement solution and approach help organizations achieve best value from their third-party service providers. They make the engagement process simple to understand, easy to design and quick to deploy. Services Procurement 360 delivers value throughout the full SOW engagement life cycle including definition, sourcing, negotiation excellence, contracting, AI powered contract management, in-flight and post-project analytics, and performance evaluation.

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