In April, BTI Consulting published a post titled 22% of Clients Bring on New GCs: New Game, New Rules, New Rates. The article notes the following two implications for law firms about general counsel actions when they join a new company. This is only the beginning of a trend. The growth rate in retiring baby boomers will […]
Responding to RFPs can be time-consuming and expensive. Deciding whether to respond or pass requires some strategic thinking. It is important to have a formal response process that asks the right questions to evaluate whether an opportunity is worth pursuing.
Differences between cover letters and executive summaries in RFPs. Most RFPs provide an opportunity for a law firm to include a cover letter and an executive summary. In some cases, due to the way the RFP is formatted the law firm often has to merge these two pieces into one. Particularly with RFPs that are […]
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 […]
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 […]
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 […]