AI-Powered SOW Classification Solution Overview

This document is a guide that presents the AI-Powered SOW Classification Solution offered by HireGenics. It outlines the challenges associated with Statement of Work (SOW) services, particularly the risks of misclassification and compliance issues that can arise from the use of SOWs. The document details trends in contingent staffing, highlighting the increasing use of SOWs to bypass labor controls, which can lead to higher costs and compliance risks. It defines classification criteria for contingent labor, SOW services, and independent contractors, emphasizing the importance of clear job descriptions and deliverables. The guide describes HireGenics' approach to assessing SOWs, including conducting assessments on high-probability SOWs to identify potential savings and risks. It also discusses the process of piloting a business unit to drive change through technology-powered SOW management and the importance of socializing the business case for SOW administration support. The document concludes by noting the capabilities of HireGenics’ AI system in rapidly assessing multiple SOWs for compliance and classification.