Solutions
Statement of Work Management

Service Providers operating under a Statement of Work (SOW) typically represents the greatest spend volume for most companies and have historically been managed outside of most Contingent Workforce Programs – but not with ZeroChaos! Leverage our expertise in services procurement to maximize efficiencies, control cost, mitigate risks and bring visibility to this population

SOW

Name the issue, ZeroChaos can help:

  • Effective management of large supplier populations
  • Strategic and competitive sourcing to lower costs
  • Enforce contract controls
  • Ensure payment against received milestones/deliverables
  • Ensure service providers are engaged in compliance with your business and regulatory requirements
  • Mitigate risks to ensure that the service provider is properly vetted
  • Reduce back-office operating costs through consolidated invoicing and payment

Complete end-to-end management – not just transactional

While many offer transactional management of SOW engagements, our services are more comprehensive. From strategic sourcing of SOW engagements through contract review and management, as well as the transactional services, ZeroChaos offers end-to-end management of project-based engagements. We capture all details associated with project-based work including: project description, costs, suppliers or workers engaged, deliverables, purchase orders and spend tracking, invoicing, and approvals.

These services are powered by our comprehensive VMS application – ZC Web.

It’s all about flexibility

Our SOW services give you the flexibility to either outsource the entire sourcing through settlement process, or augment your existing sourcing process through an unbundled menu of service options. These include:

  • Assistance with scoping projects and drafting requirements,
    including creation of project templates
  • Creation of Requests for Information or Requests for Proposal
  • Bidding event coordination, including administering online forums for bidder questions
  • Participating bidder selection, NDA solicitation, capability evaluation and selection
  • Service Provider qualification, including corporate entity, insurance levels, and regulatory and policy complianceService Provider worker assurance, including background screening and intellectual property agreements, on-boarding and provisioning
  • Creation of Master Services Agreement, including contract, statement of work, and schedule
  • Contract negotiation, approval solicitation, and archiving
  • Engagement management, including deliverable, scheduling, cost allocations, and billing configurationEngagement completion, including performance management against milestones, deliverables, dates, and budgets
  • Service Provider invoicing and client approval for multiple payment methods (fixed fee, time, material, units, expenses)
  • Consolidated invoicing to customer and associated expense accrual reporting
  • Remittance of payment to service providers
  • Reporting & business analytics

Speaking of flexibility, our system allows you to create a project with multiple engagements – these can be based on either time and materials or defined milestones.

Accrual reports let the manager monitor actual spend against the approved project budget. To further simplify, ZeroChaos provides consolidated invoicing for all service providers and processes the service provider payments.

A project manager’s dream come true

Project managers can create their own projects, link to existing company-fed hierarchy data, attach electronic contract documents, and select existing or request new service provider enrollments. Spend-level authorization and compliance approvals are automatically routed and recorded within the online project record. Project milestones, billing amounts, and methods (fee-based, unit, time and expense) are defined within the specific project accounting model and provides the framework to monitor, control, and approve service provider billing.

Real-time monitoring of all activity

All SOW engagement activity is stored within our database and is viewable via customized dashboards, pre-established engagement reports, or by customized queries.

Service providers enroll within the system and are vetted against regulatory and customer policy requirements. They can also designate resource workers, and initiate online service invoicing. Project managers, department leads, program sponsors, etc. can view project activity and spend online via customized dashboards or through our self-service reporting engine.

Service and spend progress are monitored through the engagement dashboard screens highlighting invoicing activity, worker deployment, and approved budget “burn” progress. Change orders to extend the service dates and estimated budget amounts are initiated within the system and solicit/capture needed financial approvals.

And in closing…

Project closure is performed within the engagement record, allowing the customer buyer to record final service completion, close out remaining unspent amounts, and complete an independent contractor or small business performance survey.

What can ZeroChaos do for you?
Contact Us Today