When it comes to outsourcing work, our customers told us that sending RFPs by email and keeping track of them is time consuming. LawVu is providing an even better in-house legal workspace, releasing an RFP feature within our Engage module.
Now, you can create and send RFPs, in bulk, directly within Engage.
A robust Request for Proposals (RFP) process is essential for ensuring your department obtains competitive pricing for all outsourced legal work.
In the new feature, RFPs are automatically linked to the originating matter. An RFP can be sent to a number of suppliers to request both a proposal and a quote for the work being undertaken, or you can set a budget. You can ask and answer questions, and once satisfied, decide which proposal to accept. Once the winning proposal is accepted, the relevant firm will be assigned to the originating matter as the matter manager. From here onwards, you can oversee all activity related to the RFP until the work is complete.
Regular use of the RFP feature allows for clear reporting on aggregate savings, enabling you to compare your accepted proposal prices against the highest proposal prices you received.
LawVu’s Director of Customer Support Ben Kidd says the new feature also means in-house legal teams can manage e-billing, spend and external counsel from one centralized platform.
“You’ll get a great birds-eye view of all your RFPs out for tender and you’ll be notified of responses as soon as they come in. Write it once, send to many.”
The LawVu platform is an in-house Legal Workspace with productivity and collaboration modules built specifically for in-house legal teams. The platform is anchored by the core Workspace Hub, where you can access your chosen modules: Matters, Contracts, Engage and/or Insights, together with Knowledge and Documents. LawVu provides one source of truth for in-house legal, showcasing its value to the wider organization and creating better business outcomes.