Independent contractors, freelancers, and contract workers are a valuable source of high-quality talent but managing dozens, if not hundreds of IC contracts, invoices and more, is a full-time job for several of your people.
Learn how to simplify the process, streamline and reduce the complexity of managing your freelancers, consultants and contract workers, and start to benefit from a positive ROI on your efforts.
Many HR and procurement professionals associate human capital spend with their permanent and contingent workforce. Contingent workers are far too frequently contracted and placed on a project where they are expected to self-manage, out of sight and out of mind. While many regrettably forget to manage and account for contract workers and deliverables, automating the contract can help create consistent processes. In other words, Statement of Work automation may be the solution to documenting and managing workers while ensuring visibility and compliance.
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Individuals rarely read all the fine print of a contract prior to signing. Just as a smartphone user clicks “agree to terms and conditions” without reading the document, some contract workers agree to a Statement of Work (SOW) without fully understanding what they are agreeing to. This could be considered as a matter of neglecting contractor compliance, which can lead to severe legal and reputational repercussions.
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The global market size of outsourced services is expanding. In 2019, global services were valued at 92.5 billion U.S. dollars, a figure which continues to increase steadily. Why is business process outsourcing growing? Because it is a cost-effective solution to filling skill gaps which provides flexibility and enables global expansion.
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