Supplier assessment and industry benchmarking for a global top 10 pharmaceutical company

  • Optimised vendor-associated costs across geographies

  • Identified billing arrangements across law firms


CLIENT CHALLENGES
  • A global top 10 pharmaceutical company wanted to benchmark legal billing rates to the industry average, to reduce legal costs through better negotiation
  • Key challenges were :
    • The different billing arrangements across law firms and geographies
    • The different charge rates based on practice area, firm size, city and experience
OUR APPROACH
  • Competitive analysis :
    • Examined arrangements offered by law firms and identified the preferred billing rate model
    • Assessed average billing rates for job roles (partners, associates and paralegals) in each geography (the US, Canada, UK and Australia)
    • Assessed average billing rates by practice area, industry, firm size, city and experience, and in the healthcare sector
  • Industry demand and supply :
    • Studied impact of demand and supply on legal billing rates
  • Key shifts :
    • Assessed key shifts in billing rate models
    • Assessed key shifts in demand areas
    • Assessed key shifts in supply industry
IMPACT DELIVERED
  • Identified hourly billing asthe most commonly adopted billing arrangement
  • Helped the procurement team reduce the company’s legal costs by negotiating billing rates, while increasing the quality of legal services
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