2017 Legal Procurement Survey
Corporate Procurement Departments Increasingly Leveraging Data and Technology in Selecting Outside Counsel, Survey Reveals
Bloomberg Law/Buying Legal Council Survey Also Demonstrates Need for Strong Business Intelligence Solutions
Arlington, VA (February 27, 2017)—A new survey released today from Bloomberg Law and the Buying Legal Council reveals that the top priority of corporate procurement professionals charged with managing legal spending is reducing the number of law firms utilized by their organizations.
The findings confirm the accelerating shift away from relationship buying and selling in the legal industry to decision making driven by data and technology.
The 2017 Legal Procurement Survey also suggests that procurement professionals are having substantial success in reducing their employers’ legal spending, with respondents claiming responsibility for an 11 percent reduction in legal spending on average, a number that increased to 23 percent for those who self-identified as being highly successful.
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