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By: BanyanRFP

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Kathy Heafey
KHeafy

Latest from News & Insights

A well-written, well-managed RFP is always worth the time if material legal spend is involved.  Good things happen when in-house lawyers run RFPs.  RFPs deliver in-house lawyers key insights, an understanding of critical expertise, material savings and value added services.  It is true, however, that not all RFPs are well-written or well-managed.  When this happens,…

As you reflect on the past year, it is worth taking a moment to consider how your law firms are delivering for you. Are they anticipating your needs? Investing in your relationship? Maintaining a high standard of client service? It is likely that some of your firms have faltered or even become complacent.

COVID Uncertainty…

Admittedly, I have a bias to running RFPs to hire outside counsel. Many an in-house lawyer, however, are not in my camp.  I know they are thinking, “Isn’t it risky?”  The idea of risk is worth exploring:  what exactly are the risks of running an RFP to hire outside counsel? Here are some to consider:

Risk…

So how do you feel about your law firm incumbents? Do you love ‘em? Or need to list ‘em? The answer: most definitely yes!

We Love Our Incumbents

There are many reasons to love one’s incumbents. These relationships can run deep. Maybe your lawyer is a dear friend from back in the day. Or, maybe your lawyer has become a dear friend…

With law firm salaries on the rise, it is reasonable for clients to wonder if their interests are aligned with those of their law firms.  Risk sharing incentive structures can help insure that both client and firm are in lock-step when it comes to objectives and desired outcomes.  Sound complicated?  Creating risk sharing agreements is…

Are you feeling reticent about leveraging competition to shore-up the (likely long) list of firms with whom you work?  You shouldn’t be.  Here’s some great data to give you confidence that it is time to jump in the pool!

The Landscape of Legal Service Providers is Changing

The market for legal services continues to change…

When is the last time you refreshed your panel of firms?  Even for a single practice area?  If more than five years have elapsed, you have much to gain from a panel update.  Many things change over the course of five years—both at law firms and in your business.  This shares the results from a…

The GC role is not getting easier.  There is increased regulation, patent trolls, concerns over cyber-security, the impending enforcement of GDPR…not to mention the pressure on GCs to do “more with less” and control their costs.  Although demand for legal services is flat, revenue at firms increased by 4% in 2017 to date (Citibank…

Recently back from the CLOC Institute, I have been simmering on how corporate legal departments are (and are not) leveraging RFPs. Most seem to tackle an RFP when it is time to create or refresh a panel. The process is looked upon with a fair amount of dread. Having had painful experiences with their panel reviews, it…

As you reflect on the past year, it is worth taking a moment to consider how your law firms are delivering for you. Are they anticipating your needs? Investing in your relationship? Maintaining a high standard of client service? It is likely that some of your firms have become complacent.

In this competitive legal marketplace,…