Statement of Work Contracts: The New Way of Providing Deliverables by Skilled Labors

Architects of Your
Business Growth
Flentis Corporation is an end-to-end procuring & managing
technology for contingent and permanent workforce.
www.flentis.com
https://www.linkedin.com/company/flentis-pro/

Visit for More: www.flentis.com | Email us: info@flentis.com | Phone: 1-888-
541-5551
Statement of Work
Contracts
The New Way of Providing Deliverables by
Skilled Labors.
01

541-5551
Understanding What is an SOW Contract?
Types of SOW Agreements
Why Should You Incorporate SOW Contracts, and How Do They Operate?
What are the Benefits of Having an SOW Agreement?
Benefit 1: Highly Skilled Professionals
Benefit 2: Control the Costs
Benefit 3: Manage Salary Budgets with Ease
Benefit 4: Fixed Price for the Results
Benefit 5: Flexibility in Scaling Your Workforce
Conclusion of Integrating SOW Labors
Connect with Flentis
Table of Contents

541-5551
Statement of Work contracts are the employees hired for work to be done on a project basis. Once their
job is complete, accepted, and approved, SOW agreements come to an end, and they are paid for the job
done.
In simpler words, an employer explains details like the deliverables, timelines, work activities, and
payments for the project. This is done to understand the expectations of an employer and to avoid any
miscommunication or misunderstanding.
There are three types of SOW agreements - Design or Detail SOW; Level of Effort, Time, and Materials or
Unit Rate SOW; and a Performance-based SOW.
Understanding What is an SOW Contract?

541-5551
There are three types of SOW contracts one can hire using our hiring technology, and they are:
Design / Detail SOW: Such contracts have details on the employment, like, the exact requirements, exact
measurements, in-depth information on the materials, and quality control.
Level of Effort, Time, and Materials or Unit Rate SOW: This kind of agreement focuses on the time
spent on the work or the materials required for the job that needs to be done.
Performance-based SOW: This type of agreement doesn’t provide details like the other two SOW types,
but it is more based on the performance and standards as per the expectations of the contractor.
Types of SOW Agreements

541-5551
Organizations are putting SOW engagements on priority. Statement of Work employees come with a
variety as per the utilization of a company. The incorporation of these contracts helps you stay within your
budget and deliver projects on time. Since these laborers are highly skilled, their work is more likely to be
worthy.
Such workforce is used per-project basis and receive payment once the project is complete with desired
results. Deadlines, milestones, etc., are involved with such types of contracts. Productivity is more efficient
once managed by a Contingent Workforce Management Platform.
Why Should You Incorporate SOW Contracts,
and How Do They Operate?

541-5551
There may be some risks as you take onboard SOW employees, but you also unlock several benefits
once you hire them. Some of those benefits are as follows.
✔ They are highly skilled professionals
✔ You get to control the costs
✔ You can easily manage the salary budgets
✔ You can have a fixed price for the result
✔ There is flexibility in scaling your workforce
What are the Benefits of Having an SOW
Agreement?

541-5551
All your top talents are managed in a candidate pool, making it convenient for you to select the best kind
of skilled labor for a specific project. Training sessions could be hosted, and assignments can be handed
over via the Learning Management System (LMS). The skillset can be tracked and narrowed down via an
Application Tracking System (ATS) available on the VMS portal. You get the best result of your
deliverables as the employee focuses on a deadline-based project.
Benefit 1: Highly Skilled Professionals

541-5551
All businesses run on a budget, and so does yours. Sometimes full-time employees are unable to give you
that particular result for a project. But that doesn’t mean that you offboard them as they are helpful for
many other tasks assigned. SOW agreements are set on a budget and a deadline, which makes them
give you their hundred percent to receive their reward. Hence, you get to control their costs by focusing
more on the result than just the amount.
Benefit 2: Control the Costs

541-5551
Salary budgets can be modified as per the requirements. As per importance, you can make changes in
your budgets and save up a lot on your workforce. You can use a Vendor Management System to achieve
automated invoices for different kinds of labor. Such cloud-based portals give you access to many more
benefits like managing various employees, sorting out the budgets, etc. Hence, this medium gives you the
balance in finances, which allows you to welcome profits.
Benefit 3: Manage Salary Budgets
with Ease

541-5551
You can always negotiate the best price of your Statement of Work contract and achieve the most out of
their work. This way, they are more focused on giving you the best work to have a long-term bond and
many more projects in the future. Similarly, if needed, you could onboard them for a project if they had
achieved good results within the deadline. Hence, such employees come at the best value.
Benefit 4: Fixed Price for the Results

541-5551
If you do not plan on expanding your team immediately but require a specific skill set for a project, you can
pick out the best talent from the existing candidate pool. This helps you in having flexibility with the
upscaling or downscaling of your workforce. You can easily take time to onboard the required talents while
your SOW agreements work on the projects. This way, you can expand your team as per your
requirements or bring top skills into the work atmosphere and always stay updated, saving your costs.
Benefit 5: Flexibility in Scaling Your Workforce

541-5551
SOW agreements are on the rise, and the reasons are evident – getting highly skilled laborers at your
controlled costs. Having a Vendor Management System to manage your agreements, contracts, workforce,
and other business-related process makes work smoother, and you get to focus on the profits as well as
the work that needs to be done.
Having a Statement of Work arrangement means that your business pays for the work done, that too, post
the result. It may be tough to manage such employees as they are not bound to certain hours like other
workforces. Additionally, SOW contracts save up on your costs, reporting, employee control, management,
etc.
Conclusion of Integrating SOW Labors

Thank You!
Unlock the previous mentioned benefits with our VMS portal,
FlentisPRO, and know more about your SOW contracts.
www.flentis.com
https://www.linkedin.com/company/flentis-pro/

Statement of Work Contracts: The New Way of Providing Deliverables by Skilled Labors

Recommended

Recommended

More Related Content

Recently uploaded

Recently uploaded (20)

Featured

Featured (20)

Statement of Work Contracts: The New Way of Providing Deliverables by Skilled Labors