Services Procurement Solutions for Smarter SOW and Supplier Management
Centralize Visibility, Savings, and Compliance with Magnit’s Services Procurement Platform
Magnit Services Procurement unifies SOWs and suppliers to deliver visibility, cost savings, and measurable results , all powered by the Magnit Platform.
Why Leading Enterprises Choose Magnit for Services Procurement
Smarter Services Procurement Starts with Magnit.
Unlike legacy procurement tools, Magnit’s approach brings technology, data, and human expertise together to help enterprises optimize every SOW, every supplier, and every dollar.
Fit-for-Purpose VMS Technology for Unified Workforce Visibility
Connected with the Magnit ecosystem for unified visibility across contingent and project-based work.
Fit-for-Purpose VMS Technology for Unified Workforce Visibility
205B+ Data Points Powering Smarter Talent-Sourcing Decisions
Leverage the industry’s largest workforce data universe to benchmark rates, optimize supplier performance, and capture savings in real time.
205B+ Data Points Powering Smarter Talent-Sourcing Decisions
Full Lifecycle Management from Sourcing to Closeout
Manage the full services lifecycle from sourcing and SOW creation to project closeout and performance reporting.
Full Lifecycle Management from Sourcing to Closeout
Expert Advisory and Governance for Compliance and ROI
Magnit’s experts bring decades of experience optimizing SOW design, sourcing strategy, and maintaining compliance to help you achieve measurable ROI.
Expert Advisory and Governance for Compliance and ROI
“Magnit helped us bring our SOW spend under control, standardize processes, and realize double-digit savings within the first year.”
What You Get with Magnit’s Services Procurement Solution
Get Full Visibility, Cost Control, and Compliance in Every Services Engagement.
Cost Savings Through Standardization and Supplier Optimization
Achieve 15%+ average savings through process efficiency, supplier optimization, and spend visibility.
Faster Speed-to-Engagement with Automated Workflows
Accelerate speed-to-engagement by up to 75% with automated workflows and smarter approvals.
Data-Driven Benchmarking and Rate Insights
Access 205B+ data points for rate benchmarking, performance tracking, and data-driven sourcing decisions.
Optimized SOW Design and Scope Control
Prevent scope creep and improve outcomes with structured SOWs. 25%+ of spend is typically reclassified and optimized.
Built-In Compliance & Risk Mitigation
Reduce exposure by standardizing governance, ensuring compliance, and maintaining audit-ready documentation.
Modular Delivery Options to Fit Your Goals
Choose your model based on your organization’s goals:
tech-only, advisory-only, or full managed service.
Real Results from Magnit’s Services Procurement Program
How a Global Telecom Leader Transformed Its Services Procurement.
A leading telecommunications company partnered with Magnit to gain visibility and control over millions in unmanaged services spent. By implementing Magnit’s connected platform, the company streamlined sourcing, standardized SOWs, and achieved measurable savings.
$17.7M Savings
Cost Savings Achieved
17,000 Contractors
Identified and Evaluated
2X increase
in Diverse Spend Across 40+ Project Categories
Connect Services Procurement with Magnit's Full
Workforce Management Ecosystem
One Platform. Endless Workforce Possibilities.
Magnit Services Procurement seamlessly connects with our suite of workforce solutions all from the ease of one platform. Common complementary solutions include:
- Vendor Management System (VMS) - Vendor Management System (VMS) for Total Workforce Visibility - Centralized visibility and control across all contingent and project-based workers.
- Strategic Advisory for Program Optimization and Maturity Benchmarking Expert guidance to benchmark program maturity and identify opportunities for optimization and savings.
Resources on SOW Optimization and Services Procurement Best Practices
Magnit Stays Ahead of What’s Next—So You Can Too.
Ready to Bring Your Services Spend and SOW Management Under Control?
$7B+
Spend Under Management
205B+
Data Points to Accurately Benchmark Data
100+
Services Procurement Clients
1K+
Services Procurement Suppliers
Services Procurement FAQs: Understanding SOW and Supplier Management.
Can Magnit manage global workforce programs?
Yes. Magnit operates in 130+ countries, delivering consistent compliance, reporting, and performance across regions.
What Is Services Procurement?
Magnit Services Procurement brings structure, governance, and data to every external project and SOW-based engagement—eliminating silos that make services hard to track, measure, and optimize. By centralizing all service engagements within one platform, procurement and HR teams gain real-time visibility, cost control, and compliance across every project, supplier, and dollar.
What’s the difference between contingent workforce management and services procurement?
Contingent workforce management focuses on individual workers, while services procurement manages project-based work commonly offered by contractors or agencies tied to SOWs.
How does Magnit help reduce services procurement costs?
Through process standardization, rate benchmarking, and supplier optimization, Magnit clients see 15%+ average savings.
Is Magnit’s technology standalone or part of the platform?
Magnit Services Procurement can run independently or integrate fully within the Magnit Platform for unified visibility across all talent types.
How does Magnit improve visibility into services and SOW-based spend?
Magnit centralizes every service engagement from sourcing and contracting to milestones, invoicing, and performance into one platform. With real-time dashboards and spend analytics, leaders can see who is being engaged, the work being delivered, and whether costs align to scope.
By standardizing processes and capturing line-item detail at the statement-of-work level, Magnit eliminates shadow spend, reduces leakage, and enables smarter decision-making across all services categories.
What types of organizations benefit most from Services Procurement solutions?
Organizations with significant services or SOW-based spend, especially those managing multiple vendors, projects, or cost centers gain the greatest value. Magnit’s Services Procurement solution is ideal for enterprises that need consistent control, contract compliance, and visibility across project-based work, including IT services, consulting, marketing, operations, and more.
If an organization struggles with decentralized purchasing, limited data on vendor performance, or unpredictable services costs, Services Procurement delivers structure, transparency, and measurable ROI.