As the legal industry reacts to current events and economic conditions, the number RFPs has started to change. Not only that, but has been a shift in the type of legal RFPs being issued. While RFPs for panel firms are delayed, the demand for certain legal services has increased. For instance, many corporate legal teams are seeking legal services as they rewrite contracts, manage cancellations and more. Accordingly, there has been an rise in legal the litigation, employment, restructuring and bankruptcy sectors.
In this article, perspectives on the changes in the legal industry are provided by corporate legal teams, technology providers as well as law firms.
Trends identified in the current legal landscape include:
- Increase in number of mini, matter-by-matter RFPs being issued
- Growth in adoption of RFP technology and remote-work tools
- Corporate legal teams are increasingly cost conscious
Read the full Legal Executive Institute RFPs article to learn more.