As organizations increasingly turn to MSPs and VMS for their staffing solutions, they are also engaging them for higher-value services through Statements of Work (SOW). A SOW defines the services to be provided, the work to be performed, expectations of quality, timeline of delivery, and the basis for pricing. Different types of work and services performed under a SOW may be referred to by various terms from consulting, managed services, or the more ambiguous “vague solutions”.
In order to ensure organizations are getting the most out of their SOW engagements, it’s important to look at the most common pricing models and the types of projects for which they work best. Different projects may require different pricing models, and most SOW engagements will require at least a combination of these options. It’s also important to consider funding options for SOW operations, such as special-purpose funds, to keep things running smoothly.
It’s more important than ever to understand the nuances of SOW and make sure that the investment is receiving the maximum value for its price tag. With the help of the right pricing model, knowledge of project types and operational funding, organizations can ensure that their SOW engagements are running as