Have you taken the survey yet?
Please do it ASAP, it only takes a couple minutes and helps advance the field of Legal Procurement.
Last year because of your participation we learned:
- With procurement’s involvement, companies save 14.6 percent of legal spend. When procurement is well aligned and works in partnership with the in-house law department, companies save 21 percent on average. For a Fortune 500 company incurring legal fees at 1 percent of revenues, this savings translates into millions of dollars of incremental earnings.
- Now is the time to begin the legal procurement journey. It takes time to drive value: Quick stints in the legal category are insufficient. Legal procurement professionals contribute the most after five years of buying legal services.
- The procurement professionals’ job is multifaceted. Procurement professionals negotiate discounts, issue RFPs and outside counsel billing guidelines, establish panels and lists of professional provisions, require eBilling, negotiate fee arrangements, and apply a tool chest of process improvements.
- The top legal procurement goals for 2018 are (better) capturing and analyzing spend data as well as reducing legal spend.
Raise your voice and click here to participate.
BEST PRACTICE WEBINAR -- 13 February
The RULES -- An Introduction to Law Firm Economics
This webinar will benefit both procurement and legal operations professionals or in-house council who wish to know, "what makes partners tick," so they can create initiatives to drive positive change. Tim Corcoran will explain why traditional measures of law firm profitability pose an obstacle for law firms to adapt to client's changing demands.
The webinar will cover:
- How law firms make money
- How they should change (and how they’ll make more money if they do)
- Why they’re reluctant to change
- How law firms and law departments can foster change
It's tomorrow, 13 Feb 11:00EST and not to be missed! Members have received a calendar invite. If you have any questions, please contact firstname.lastname@example.org.
NEXT LEGAL LESSON -- 13 March
Our Legal Lessons series help close the knowledge gap: each session is a 60-minute live webinar on a variety of legal topics and legal systems and will help you become a better, more sophisticated buyer of legal services.
MARCH 13: Legal Method, Skills, Reasoning
Click here to see the full schedule.
It's all bright and shiny and better organized BUT, PLEASE NOTE: your old password will not work. Here's what you need to do:
Go to buyinglegal.com
Click on LOGIN at the top right. The Login page will open.
Click on Forgot Password. A new page will open which will direct you to reset your password.
Type in your email and the code that displays underneath.
An email will be sent to you to set a new password and then you are good to go!
(If you have any questions or run into any issues please contact Doria@buyinglegal.com.)
Buying Legal® Council Conferences are not to be missed! If you want to sharpen your legal procurement skills, get the latest information and meet more of your colleagues, this is the place!
Our conferences have a laser-sharp focus on the buying of legal, alternative and ancillary legal services. We combine sharing best practices and learning new skills with cutting-edge industry insights and academic knowledge contribution.
SAVE THE DATE and Join us in 2019:
DACH (7 May 2019 in Frankfurt)
EMEA (11 June 2019 in London)
APAC (30 July 2019 in Sydney)
Americas (4 & 5 September 2019 in New York)