7 Ways to Gain Control of Third-Party Services Spend
A practical guide for Finance leaders
Third-party services delivered under a Statement of Work (SOW) have become one of the largest areas of spend for many organisations, yet they are rarely governed with the same consistency as other major cost categories. Finance is often accountable for this spend, however, many organisations find it difficult to show what was commissioned, how it changed during delivery and what was received in return.
This guide looks at why third-party services spend is so often difficult to see and explain. It sets out seven practical ways Finance can work with Procurement to bring greater visibility, accountability and evidence of value to this category of spend. Each section includes questions to help you assess where your organisation stands today.
Inside the guide:
How to build a consolidated view of third-party services spend
Why clear ownership and a centralised process matter
How to connect each payment to the work that was commissioned
How to record what was delivered, not only what was paid
How to measure value against the original business case
How supplier performance can inform future sourcing decisions
Why services need to be managed in a system designed for the full lifecycle