Legal Market Intelligence
Gathering decision-grade data and information to support accurate and confident choices is one of procurement's core mandates. However, getting reliable and timely legal market, supplier, and industry information is a challenge for many organizations. Which firm is better than another and why? What unique value does which legal supplier bring to the table?
Legal Market Intelligence as we understand it includes a range of information on the legal industry, gathered and analyzed to enable confident and objective decision-making. It comprises law firm and (ancillary) legal services supplier information as well as legal category management best practices and legal market benchmarking information.
In a complex marketplace with many players such as the legal market, gaining a deep understanding of "what's out there" is more important than ever. How can you best gather and analyze information relevant to the legal market? Find out next spring! Join your peers for a day of Legal Market Intelligence.
Some of the aspects we will examine:
Value Chain Analysis: What are the key cost and price drivers for legal services?
Risk Analysis: What are the major risks when buying legal services?
Supply Base Market Share: Who are the players in the market and how is the client base split between them?
Forecasts and Price History: How do you best forecast demand for legal services?
Buyers: Who are major buyers of legal services?
M&A among Firms/Suppliers: What are the dynamics in the market and how will this affect the offering?
New Technologies: Which legal technologies are emerging that may reshape the market?