Buying Legal: Procurement Insights and Practice

Understand and maximise the complex 'procurement relationship'.

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Description

Recent studies are proving that procurement is indeed involved in the purchasing of legal services and it’s swiftly becoming the ‘new normal.’

Larger corporations in particular engage procurement, not only for sourcing low-end, routine or commoditised legal services, but increasingly for higher-stakes legal work as well.

But that doesn’t mean that law firms or in-house legal and procurement teams are well equipped to deal with this new landscape and to make these new relationships successful.

Managing Partner’s new report - Buying Legal: Procurement Insights and Practice – addresses the key challenges and opportunities that buying and selling legal services creates – from relationship building and management, to financial and strategic decision- making.

Packed with original research, case studies, opinion pieces, practical approaches, and checklists the first half of the report looks at procurement from the law firm perspective, covering topics including:

  • Benchmarking the procurement of legal services;
  • Pricing and negotiation strategies;
  • Bulk buying of legal services;
  • Understanding the requirements of the procurement department;
  • Successful complex tendering;
  • Current trends in the procurement of international legal services;
  • Building relationships with the CPO;
  • Procurement departments sourcing strategies;
  • Pricing evolution and interfacing with the sourcing processes; and
  • The concept of supply management.

 The second half of this report looks at the challenges faced by in-house lawyers and procurement professionals, including:

  • Understanding procurement’s role in purchasing legal services;
  • The positive and negative effects of discounts;
  • Effective collaboration between sourcing and legal;
  • Top tips for successfully procuring legal services;
  • Trusted advisor relationships co-exist with legal procurement;
  • The changing role of procurement and its relationship with senior management;
  • Starting a legal procurement initiative;
  • Trusted tactics to get the most from spending on outside services;
  • Selecting and managing outside law firms;
  • Demonstrating law department value through analytics; and
  • Using technology to source legal services.

Featured contributors include: Riverview Law, Wragge & Co LLP, PwC, Dechert LLP, Kennedys Law LLP, Corporate Executive Board, Institute for Supply Management, Beaton Research & Consulting, Akin Gump Strauss Hauer & Feld LLP, Validatum, Vantage Partners LLC, Trusted Advisor Associates, WellPoint, Inc, de Forte Associates, Royal Mail, Bucerius Law School, Kestrel OPS GmbH, RFx Legal, LLC., BDO LLP, Sourcing Logistics LLC, and many more…

Buying Legal provides law firms and in-house legal and procurement teams with the necessary tools to understand and maximise the complex “procurement relationship.”

'No longer can folks on either side say that they don't have a roadmap to success. With this book, they do.' - Amar Sarwal, Vice President and Chief Legal Strategist, Association of Corporate Council (ACC).

Contents

Chapter 1:  Research on the procurement of legal services

Chapter 2:  I don’t give a tinker’s cuss about value – I just want the lowest price!

Chapter 3:  Procurement: It’s a team game to be successful

Chapter 4:  Why CEOs love procurement

Chapter 5:  Getting the best results from tenders: Six winning moves

Chapter 6:  Current trends in the procurement of legal services in Germany

Chapter 7:  You’d better know the CPO’s name

Chapter 8:  Procurement: The new sheriff in town

Chapter 9:  The CFO’s observations and a case study

Chapter 10: Supply management and the role of purchasing

Chapter 11: Putting your best foot forward: Bidding to procurement

Chapter 12: Procurement’s role in purchasing legal services: A counterpoint… to a degree

Chapter 13: Dungeons and dragons

Chapter 14: Say no to discounts

Chapter 15: Sourcing legal process outsourcing services: A primer for collaboration between sourcing and legal

Chapter 16: Legal procurement: The new barbarians at the gate

Chapter 17: Can trusted advisor relationships co-exist with legal procurement?

Chapter 18: The role of procurement as trusted advisor to management

Chapter 19: Legal procurement: Sourcing is a team sport

Chapter 20: GSK legal procurement: Small steps aren’t enough

Chapter 21: Legal and procurement: A healthy relationship

Chapter 22: I bought the law: Professionally procuring legal and other professional services

Chapter 23: Partnering with procurement to select and manage outside law firms

Chapter 24: Demonstrating law department value through legal sourcing

Chapter 25: Practical legal sourcing methods

Chapter 26: Moneyball for law departments

Chapter 27: Using technology to source legal services

Chapter 28: Working with in-house lawyers

Chapter 29: Procurement and legal functions working in harmony

Chapter 30: You need to talk to our procurement department

Check our Executive Summary and full table of contents here

Authors

Andy Daws
Vice president, North America of Riverview Law.
Anthony Licata
Chief financial officer, Dechert LLP.
Arne Gärtner
Dr Arne Gärtner is a senior legal project manager at Linklaters. As manager of the firm’s German Business Improvement team, he is also generally responsible for Legal Project Management (LPM) and Legal Technology (LT) in Germany. In his role as a senior LPM he supports the practice in the management of large and complex matters and advises on the use of technology for handling such transactions. Furthermore, Arne is a member of the global Innovation and Efficiency working group of Linklaters and responsible for Innovation and Efficiency in Germany. Arne studied Business Administration at the University of Potsdam and Mediation at the European University of Viadrina Frankfurt (Oder). He also holds a PhD in Business Administration from the University of Potsdam. In addition, he is an IPMA (International Project Management Association) certified Project Management Associate and Fellow of the Bucerius Center on the Legal Profession where he worked as a Research Assistant from 2012 till 2015.
Bill Young
Principal, Kestrel OPS GmbH.
Brian Lee
Brian Lee is managing director and head of legal research at the Corporate Executive Board.
Charles H Green
Principal of New Jersey-based Trusted Advisor Associates.
Colleen F Nihil
Director of project management, Dechert LLP.
Courtney Sapire
Courtney Sapire is the founder, president, and chief marketing officer of RFx Legal, LLC.
Dave Clark
Bid manager, Kennedys Law LLP.
Danny Ertel
Founding partner, Vantage Partners LLC.
Diane Wiloughby
Diane Wiloughby is Senior Associate, Web Development, at the Institute for Supply Management™.
Dr George Beaton
Executive chairman, Beaton Research & Consulting. Partner at Beaton Capital. Associate Professor, The University of Melbourne.
Dr Silvia Hodges Silverstein
Executive director, Buying Legal Council, New York. Former vice president, Strategic Market Development, Sky Analytics. Researcher and Lecturer, Columbia Law School, New York. Silvia can be reached via email or at her website.
Eric Chin
Senior analyst, Beaton Research & Consulting and Beaton Capital
Geraint Evans
Head of Strategic Bids, Wragge & Co LLP
Howard Kravitz
Howard Kravitz is the US marketing leader for PwC in the US.
Jason Winmill
Partner, Argopoint Consulting.
Kara Kosowski
Manager, strategic sourcing, WellPoint, Inc.
Lynn D Krauss
Assistant General Counsel, Dow Corning Corporation
Marcus Hartung
Director, Bucerius Center on the Legal Profession, Bucerius Law School, Hamburg, Germany.
Mark King
Head of business development, Kennedys Law.
Melania Wenstrup
Bid manager, BDO LLP.
Prof Dr Remko van Hoek
Global procurement director, PwC.
Pratik K Patel
Vice president, legal business solutions, Elevate Services.
Richard Burcher
Managing director,  Validatum®.
Scott R Sturzl
Scott R Sturzl CPSM, C.P.M., CPSD is Vice President, Education at the Institute for Supply Management™.
Robin Woodstock MCIPS
Senior manager, professional services, Royal Mail, UK.
Susan O'Brien
Principal and founder of Sourcing Logistics LLC.
Timothy B. Corcoran
Senior executive. Noted speaker and columnist and the author of Corcoran’s Business of Law blog
Toby Brown
Director of strategic pricing & analytics, Akin Gump.
Tristan Forrester
Director, Professions, Beaton Research & Consulting.

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