Competitive Advantages for Law Firm Practice Groups Identifying the law firm’s value proposition is one of the most important things a practice group should focus on. The full group, from partners to associates to legal assistants should all have a clear understanding of what are the competitive advantages of your practice group’s services. This value […]
The Association for Corporate Counsel (“ACC”) released the winners of the 2018 Value Challenge. Below I break down how one of the winning teams used the RFP process to drive cost reductions and improve efficiency. Step 1: Audit Your Current Spend and Process 7 -Eleven had only 2 in-house corporate counsel who worked on real […]
The Corporate Legal Operations Consortium (“CLOC”) published a flash surveyin June that showed in-house counsel reaction to certain Big Law firms raising starting salaries for associates to $190k. With such a strong negative reaction – it makes you wonder if law firms have a strategy to counter these reactions when clients bring it up in […]
Law360 published my latest article on “5 Mistakes Law Firms Make When Responding to RFPs.” When RFPs first started to become more frequent in the legal industry, many law firms shrugged them off as a passing fad. Some were insulted by the format and general thought that legal services could be purchased in the same […]
In most request for proposals (“RFPs”) that deal with the overall client-law firm relationship (as opposed to a matter-specific RFP), you will see questions asking law firms about “value-added” services. By value-added, they mean free. In the 2018 Buying Legal Council Survey, the responses were particularly interesting to the question, “What are your preferred value-added […]
Legal procurement has earned its seat at the table in the process of buying legal services – and they aren’t giving it up. The 2018 Buying Legal Council Survey noted that 76% of respondents were using RFPs as part of their legal spend management strategy. Law firms need to have a formal process in place to ensure […]
Law firms need to be educated on the emerging competition for legal services. Alternative Legal Service Providers (“ALSP”) are here to stay, and corporate counsel are finding them to be attractive alternatives to the historical law firm model. Thompson Reuters released the latest study on how ALSP are impacting the legal industry. As noted in […]