Legal Spend Management Consulting
Legal Operations Services
We help general counsel develop an outside counsel legal spend strategy, issue an RFP to compare law firms and manage the RFP process from start-to-finish including price negotiations and outside counsel guideline terms.
We begin by jointly working with general counsel to get a better understanding of the law firms you are currently using and what types of work is being performed. We perform an audit of your legal spend to collect feedback on law firm performance and to track the current pricing formulas being used. With this information, we then work with you to develop a legal spend strategy to reach your business goals. For those who do not have historical data available we work with you to issue a request for information (RFI).
Based on the information collected in phase 1, we then develop an RFP that is customized to your business and your industry. A project management schedule is created for the RFP and we handle all the logistics involved in issuing the RFP to external law firms. We also work with law firms to provide research on additional firms or auxiliary legal service providers for those who may be interested in inviting additional service providers to the RFP.
Corporate RFP Execution
We manage the execution of the entire RFP process, which includes answering any questions from the law firms and collecting and formatting the submissions in a way that allows general counsel to easily compare the competitive advantages of each firm.
Once a final group of law firm or service provider candidates are identified, typically a round of in-person presentations are scheduled. We coordinate that process and assist general counsel in comparing the proposals. We also work with general counsel in negotiating the pricing structure and outside counsel guidelines.
Following the RFP process, we manage the communication and feedback process with the law firms who participated. We also work with general counsel to implement the orientation meetings for the new legal spend strategy with the selected law firms.
Following the implementation of the new group of law firms, we provide ongoing support and consultation as needed to ensure that the RFP goals are achieved. This could include issuing follow up RFPs for specific matters or it could be providing ongoing communications with the panel firms to ensure the panel transition goes smoothly.
Insight, Experience, Results
Trust RFP Advisory Group to manage your RFP and ensure that you get optimal value for your dollar. Contact us today.
Tags: rfp process rfp management general counsel rfp services corporate counsel request for proposal in house counsel rfp consultant