Law Firm Sourcing | Legal Services Sourcing
Law firm sourcing, managed strategically, has become an increasingly critical aspect and "must have" of legal department strategy at Fortune 500 companies.
Law Firm Sourcing (Legal Services Sourcing)
Updated February 16, 2025 | Argopoint Consulting
Legal department strategic sourcing is the process of continual assessment and enhancement of corporate legal spending. Argopoint has worked with some of the world's most respected legal departments to develop and implement sustainable legal and law firm sourcing plans. Our approach with law firms has captured competitive advantages for corporate legal departments leading to short-term savings and long-term value.
When carefully designed and implemented, strategic legal sourcing can reduce outside legal costs by as much as 30 percent.
“There is nothing quite so useless, as doing with great efficiency, something that should not be done at all. ”
Key Questions
1. Does your legal department face pressure to reduce costs while maintaining quality?
2. What are the sourcing goals and major impediments your legal department is faced with?
3. Does your corporate in-house legal department have a technology roadmap for sourcing efforts?
REDUCE COSTS, maintain QUALITY
Given the breadth, unpredictability, and high-risk nature of legal work at large companies, strong outside counsel and service provider programs are a must. Pressure to reduce costs via reliance on under-developed sourcing strategies can lead to the disruption of long-established relationships with qualified and conscientious service providers. In some situations, short-term savings pressures can lead to a decrease in the quality of legal services. Costs inevitably reappear when legal departments fail to design sustainable strategies supported by objective metrics.
we are able to identify and secure long-term strategic partnerships with outside counsel based around the concept of value to the client and mutual interests to deliver short-term savings and long-term value, via development of comprehensive and best-in-class:
Law Firm Panel Reviews
Law Firm RFPs
Outside Counsel Benchmarking & Reviews (diagnostics)
Outside Counsel Management Programs
Alternative Fee Arrangements
Outside Counsel Analytics and Management Technologies initiatives
Outside Counsel Guidelines / Billing Reviews (cost control)
ADDRESS YOUR UNIQUE NEEDS AND CHALLENGES
Each legal department is a unique entity with specific sourcing needs and challenges. Argopoint utilizes a tailored approach to meet our clients’ diverse needs. The depth of our experience in working with legal departments across a range of industries informs our ability to modulate the scope and intensity of our engagements. Among other criteria, we evaluate the existing approaches and capabilities of our clients to design unique sourcing strategies that are optimal for them,
Argopoint provides its clients with dedicated support through the entire strategic sourcing process. From designing a practical and implementable strategy, to negotiating with outside legal firms, to making the organizational changes necessary to sustain results, our clients can be confident in our dedication to their department objectives.
Due to our innovative strategies and proven implementation approach, Argopoint has consistently helped clients achieve savings from 10-30% in their business relationships with top-tier law firms and legal service providers.
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