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

  • Optimised vendor-associated costs across geographies

  • Identified billing arrangements across law firms

  • 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
  • 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
  • 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
Thank you for sharing your details

Your file will start downloading automatically

If it does not download within 1 minute,

Share this on