the international trade organization for legal procurement

best practices for buying legal services and legal technology


PRICING MASTER CLASS

In this Pricing Master Class, we look at pricing from both the client's as well as the provider's view. Access the slides, recordings, and reading materials for each module:

      • Module 1 - Procurement Strategy and Scope of Work – collaboration strategy between Procurement and Legal; better forecasting multi-year demand for legal services including complex work; balancing competence, coverage and cost objectives, and moving past relationship-based sourcing of legal services to strategic collaboration with law firms
      • Module 2 - RFPs, Invitations for Strategic Partnering and Evaluating Proposals – approaching the market for the third time in 10 years; effective Q&As for sourcing; selection criteria; reducing the number of firms yet again nationally and globally; streamlining the sourcing process
      • Module 3 - Non-Hourly Fee Arrangements and Negotiations to Arrive at a Fair Price – multi-year work allocation to firms; abandoning hourly-based fee arrangements; fees for performance and innovation; two-step negotiations; ensuring that legal departments and law firms invest in innovation to climb out of the hourly rut
      • Module 4 - Why ROIs and LPMs Matter; Managing the Transitions; and Innovation – why records of instruction and legal project management are pre-requisites for AFAs; linking fees to innovation to improve results and service and to reduce costs; how best to drive change once the negotiations are over

Module 1: Procurement Strategy and Scope of Work

Slides for Module 1 Download

Reading Materials:

Planning for the RFP Storm: Part 1Part 2 and Part 3

Four Questions in Legal Sourcing

From Vendor to Strategic Partner

Managing the Legal Supply Chain

Module 1 recording:


Module 2: RFPs, Invitations for Strategic Partnering and Evaluating Proposals

Slides for Module 2 Download

Reading Materials:

Legal Spend Management – Insight and Muffins

Influencing the Demand for Legal Services

Poor Leverage Means Poor Service

Module 2 recording:


Module 3: Non-Hourly Fee Arrangements and Negotiations to Arrive at a Fair Price

Slides for Module 3 Download

Reading Materials:

Fixed Fees: Here Be Dragons 

The Perfect Pricing Storm: Artificial Intelligence and Hourly Billing 

Retainers: A Squandered Revenue and BD Opportunity

Fixed Fees and Performance

Negotiating with Law Firms

Performance Plans for Firms

Productivity Improvement AFA

Module 3 recording:


Module 4: Why ROIs and LPMs Matter; Managing the Transitions; and Innovation

Slides for Module 4 Download

Reading Materials:

Budgeting Complex Legal Work

Changing Law Firms

The Evolution of KPIs

Module 4 recording: