7 Benefits of partnering with an MSP for SOW management and services procurement

Using an MSP for services procurement and SOW management can also provide control over spend. Where processes aren’t in place, the risks of off contract spend increases. This adds to hidden costs and project ‘creep’ (where spend creeps up over the course of the project); all elements to Statement of Work management that procurement teams naturally want to avoid. 
 
With a Managed Services Provider – and VMS technology – it’s entirely possible to set parameters of control. This enables a clear hierarchy of approvals for budget spend changes to project scope, milestones and supplier alteration decisions.  

An MSP will also give you SOW visibility, as those who are given permissions to alter any of the parameters of the project or contract also have access to real-time data to ensure they’re making the right decision based on current costs. 

An MSP streamlines the SOW sign-off process by implementing robust workflows, milestones and approval hierarchies within a centralised platform. This ensures that every edit to project specifications is automatically tracked and documented, capturing a clear audit trail of what changes were made, when, and by whom.  

Stakeholder involvement is made transparent, as the MSP’s system records which individuals reviewed and approved each modification. This meticulous documentation not only reduces the risk of miscommunication but also provides accountability and compliance, ensuring all parties are aligned before the project moves forward.  

As a result, organisations benefit from efficient, accurate, and secure SOW management. 

Having a Managed Services Provider to manage Statement of Work and services procurement also has the added value of expanding your SOW specification so that the best solutions can be delivered – even if they aren’t perhaps what the business initially expected. 
 
Suppliers need to be able to think outside of the box and be encouraged to challenge thinking so that the best outcomes are achieved. Enabling this starts with the specification that is developed. Too narrow and you limit the potential scope of suppliers, too broad and you’re at risk of being swamped with information that doesn’t help make a decision.  

An MSP has the experience in developing specifications of work needed and can steer you in the right direction as a result. 

While procurement teams may already have a preferred supplier list in place, they might not be the best supplier for this specific job. 
 
An MSP will have access to a range of suppliers including organisations that specialise in niche areas that could add real value to the project. Given that the Managed Services Provider will likely have worked with them before, they will be able to steer you in the right direction. 
 
When it comes to ensuring that the right suppliers are eventually chosen for each category, a Managed Services Provider will be able to facilitate honest and open two-way dialogue.  

This enables procurement teams to not only clearly vet potential suppliers against criteria and ensure every business has an equal opportunity, but it also enables the supplier to challenge the project scope should they feel it can be delivered in a more effective way. 

This gives full control and transparency from start to finish. 

Finally, running an SOW or services procurement management through an MSP means that you have access to a library of information that can be accessed, shared across the business and, most importantly, acted upon.  

You will be able to store and retrieve all specifications, supplier intelligence and proposals, costs and - where appropriate - the end results, so that any future projects or decisions can be based on the most informed data. 
 
These may be our top seven benefits, but there’s so much more value that a Managed Services Provider can deliver when it comes to SOW or services procurement management.