The Pricing & Procurement of Legal Services (Part 1)
The Pricing & Procurement of Legal Services with Nancey Watson (Part 1)
In a new series of podcasts on the Legal Executive Institute, we examine the issue of procurement and pricing of legal services, looking at the issue from both sides of the table — from the law firm side and the in-house legal department side. We’ll be examining how law firms and in-house legal departments are facing different challenges that are reshaping the procurement process, how both sides can work “request for proposals” (or RFPs, as they’re known) to their advantage, and why it’s important to keep the human touch around pricing even amid all the measurements and metrics.
Joining us for this series is Nancey Watson, of NL Watson Consulting in Toronto. Nancey is an expert in the area of procurement and has just written a book, The Silver Bullet: How RFPs are Won, published by The Ark Group, in the UK. Nancey based her book on a workshop she teaches on Strategic Proposal Management. She is also a contributing author to Thomson Reuters Legal Executive Institute, and she has spoken at a number of Legal Executive Institute events and forums.
Listen to the podcast here:
In this installment, we’ll discuss with Nancey how pricing and procurement have become an increasingly important part of the relationship between clients and their outside counsel. We’ll also focus on some of the challenges and opportunities unique to corporate legal departments and how they are addressing pricing issues with their legal service providers.