New Findings from Buying Legal® Council Legal Procurement Survey
The Buying Legal® Council, the international trade organization for legal procurement, has released its 5th annual survey of legal services procurement. The survey, conducted earlier this year, shows that professional procurement saves companies 17% of legal spend on average.
New York, NY, May 23, 2020 --(PR.com)-- “Legal procurement has never been more relevant than today. Cost savings and value are always on procurement’s priority list. With COVID-19, this is truer than ever,” says Dr. Silvia Hodges Silverstein, Chief Executive Officer of the Buying Legal® Council.
Silverstein says that any organization with significant external legal spend that does not involve procurement in 2020 is not practicing best practice. It is about process control, measurement and employment of technology.
“No Chief Executive Officer needs to see a growing trail of legal spending as inevitable,” Silverstein said. “Leaders in the field are turning the tables. The time for legal procurement is now! We know how to improve cost effectiveness and efficiency.”
What's in the Survey:
- Key Benchmarks: Savings, Spend, Number of Providers
- Procurement Tools & Tactics
- Procurement Goals & Preferred Value-Adds
The impact of best practices has a sweeping improvement on the effectiveness, efficiency and overall cost of legal spending. Our survey respondents are in the trenches, extinguishing fires and helping their colleagues in the legal department saving money, driving improved service and changing their relationship with major law firms. More work is moved in-house, to alternative providers/“law companies” or less costly boutiques and niche firms.
The Survey examined the purchasing behavior of over 100 legal procurement professionals, focusing on purchasing decisions, cost control, analyses, and trends. Legal procurement is having a profound and lasting impact on the purchase of legal services for the world’s largest companies.
This in-depth comprehensive market overview (60+ pages) is available on the Buying Legal® Council website.
About the Buying Legal Council
The Buying Legal® Council is the international trade organization for professionals tasked with sourcing legal services and managing supplier relationships. Founded in September 2014, today it counts over 800 Members and Friends around the world from a wide range of industries: pharmaceuticals, banking and insurance, retailers, consumer goods, electronics, sportswear to public entities.
Silverstein says that any organization with significant external legal spend that does not involve procurement in 2020 is not practicing best practice. It is about process control, measurement and employment of technology.
“No Chief Executive Officer needs to see a growing trail of legal spending as inevitable,” Silverstein said. “Leaders in the field are turning the tables. The time for legal procurement is now! We know how to improve cost effectiveness and efficiency.”
What's in the Survey:
- Key Benchmarks: Savings, Spend, Number of Providers
- Procurement Tools & Tactics
- Procurement Goals & Preferred Value-Adds
The impact of best practices has a sweeping improvement on the effectiveness, efficiency and overall cost of legal spending. Our survey respondents are in the trenches, extinguishing fires and helping their colleagues in the legal department saving money, driving improved service and changing their relationship with major law firms. More work is moved in-house, to alternative providers/“law companies” or less costly boutiques and niche firms.
The Survey examined the purchasing behavior of over 100 legal procurement professionals, focusing on purchasing decisions, cost control, analyses, and trends. Legal procurement is having a profound and lasting impact on the purchase of legal services for the world’s largest companies.
This in-depth comprehensive market overview (60+ pages) is available on the Buying Legal® Council website.
About the Buying Legal Council
The Buying Legal® Council is the international trade organization for professionals tasked with sourcing legal services and managing supplier relationships. Founded in September 2014, today it counts over 800 Members and Friends around the world from a wide range of industries: pharmaceuticals, banking and insurance, retailers, consumer goods, electronics, sportswear to public entities.
Contact
Buying Legal® Council
Dr. Silvia Hodges Silverstein
+1-929-251-3689
www.buyinglegal.com
Dr. Silvia Hodges Silverstein
+1-929-251-3689
www.buyinglegal.com
Contact
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