Organizations' spend on third-party services is huge and expected to grow in the coming years. As most organizations gradually realize the size of this spend and realize missed savings opportunity, they are trying to become more active in its management. Recognizing they lack the requisite capabilities to do so, many are seeking third-party expertise to properly manage this fast-growing spend.
Two distinct sets of service providers are vying for a share of this market – MSPs and Procurement Outsourcing BPOs. Procurement Outsourcing BPOs, which are already managing enterprises' indirect procurement spend are the natural choice; however, MSPs are also offering SOW management services to their existing contingent workforce clients.
In this whitepaper, we compare these two sets of providers' key capabilities, including process and category expertise, technology enablement proficiency, analytics capability, automation, and AI/ML leverage.
