Legal Services - Procurement Intelligence Report
The Legal Services is expected to record a CAGR of during 2021-2025. The market will register an incremental spend of about 157.18 $ billion during the forecast period. Only a few regions will drive the majority of this growth. On the supply side, will have the maximum influence owing to the supplier base.
To assist buyers in identifying and shortlisting the most suitable suppliers for their requirements, this Legal Services procurement intelligence report provides details on key advisory and profiles of several Legal Services suppliers, including:
Latham & Watkins LLP
Allen & Overy LLP
Freshfields Bruckhaus Deringer LLP
DLA Piper LLP
Pinsent Masons LLP
Herbert Smith Freehills LLP
CMS Legal Services EEIG
White & Case LLP
Legal Services Procurement: Overview
For more insights on the Pricing Trends, Supplier Selection, and Spend Growth of Legal Services Procurement
Procurement of legal services is an attractive category for procurement managers to realize cost-saving and achieve strategic procurement objectives. Buyers can unlock multiple opportunities with the use of actionable category intelligence such as pricing outlook, cost-saving and negotiation levers, supplier intelligence, and overall category management strategy.
By identifying opportunities in Legal Services TCO (total cost of ownership) and the expected changes in price forecast and factors driving the current and future price changes, this report will help buyers maximize the value on their Legal Services procurement.
In addition to helping buyers in identifying the strategic goals and initiatives for category management, this report also helps create the necessary support structure to facilitate implementation. This report provides in-depth inputs on streamlining category management practices and provides detailed answers on:
The strategic sourcing objectives, activities, and enablers for Legal Services category
Legal Services procurement best practices to promote in my supply chain
Legal Services Procurement: Pricing Trends
The regional influence of the top suppliers is increasing on a yearly basis in the Legal Services. The players generally have extensive distribution network with high reach to their customers, which help them in providing timely solutions to buyers.
During the forecast period, the prices for Legal Services will increase by 2%-5%. Owing to the pressure from substitutes and threat from new entrants, Legal Services suppliers only have a moderate bargaining power. Fixed-fee pricing, Hourly-rate pricing, and Retainer-fee pricing are the most adopted pricing models for procuring Legal Services. Click here to gain valuable insights on the post COVID impact on the Legal Services , which will help companies evaluate their business approaches.
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