CASE STUDY Automotive And Technology Company | North America
Electric Vehicle Leader Cuts Legal Costs by 66% with Strategic RFP Management
Client Need
- Identify significant cost savings in outside counsel fees.
- Understand current outside counsel spend.
- Transform the current outside counsel selection process.
- Create transparency and increase competition in the selection process.
Client Solutions
- Evaluate and compare eight preferred top-tier firms for the request for proposal (RFP) responses.
- Manage the RFP process through two rounds of pricing requests.
- Support the matter end-to-end, from initial RFP bid to ongoing invoice reviews.
- Provide guidance and a data-driven approach to cut costs.
Why Epiq
- Offer a unique bid process that uses legal spend and procurement expertise to drive cost savings.
- Apply insights from more than 300 consulting engagements with leading legal departments to evaluate practices, develop strategies, and drive sustainable transformation.
- Focus on strategy while experts manage communications.
Results and Benefits
Reduced costs by 66% for a single matter.
Achieved a 20x return on investment (ROI).
Refined the legal procurement process.