What is SOW?

A Statement of Work (SOW) is a detailed document outlining the specific requirements of a given project. It serves as a comprehensive guide, defining essential elements such as project deliverables, timelines, work location, payment terms and conditions, and the overall scope of work to be provided.

The SOW is a crucial component in project management and procurement, providing a clear and formalized understanding between parties involved in the project. This document helps ensure alignment, transparency, and accountability throughout the project lifecycle by clearly articulating the expectations, responsibilities, and parameters for successful project completion.

Learn more about Ivalua’s Contract Lifecycle Management Solutions.