Strategically Negotiate Rates and Build Better Budgets with Rate Proposal Analyzer

As we find ourselves nearing the end of another year, how confident do you feel in the rates you’ve negotiated for 2023?

C-suite executives are increasingly holding their corporate legal departments accountable for their spend. The Enterprise Legal Reputation (ELR) Report found that 37% of corporate legal departments feel this pressure from their CFO, while 30% feel it from their CEO, and 10% from their Board of Directors.

With mounting pressure to contain costs, your law firm rates are a great place to identify quick savings opportunities. That’s why we launched Rate Proposal Analyzer, the easiest way to collect, compare, and analyze your annual rate proposals. 

With a centralized view of your law firms’ rate proposals, you can finally say goodbye to the days of accepting above-market rate increases due to a storied law firm relationship or increasing caseloads. Rate Proposal Analyzer makes identifying savings opportunities quick and easy!

One Centralized Dashboard

Consolidating law firm rate proposals hasn’t been easy for corporate legal departments. 

Rates from one firm are submitted via email, while another is submitted via snail mail. And to make matters worse, you’re drowning in spreadsheets trying to keep track of everything.

From rate request to approval, our Rate Proposal Analyzer centralizes and streamlines your 

entire rate proposal process. 
Law firms can upload their rate proposals directly to the dashboard through manual submission or a spreadsheet.

Unprecedented Analysis & Internal Benchmarking

Collecting rate proposals is only half the battle–now, you have to determine which rates will or will not get approved.

Historically, this has been a headache for corporate legal departments. But the good news is rate proposal comparison and analysis just got significantly easier. 

With Rate Proposal Analyzer, corporate legal departments can now:

• Simplify rate proposal requests, including simultaneous submissions from multiple law firms
• Aggregate completed proposals in one place for easy review and comparison
• Request diversity information on timekeepers for specific projects

No more wondering where you’re overpaying–Rate Proposal Analyzer puts these insights at your fingertips.

Align Negotiations to Budget Goals

We’ve said it before, and we’ll say it again–rates cannot be accepted blindly. 

And we don’t just mean reviewing your rates before approving them. You have to go one step further and consider the impact these rates will have on your budget. 

Your budget is your North Star, so the rates you approve should align with your budget goals for the year. 

Rate Proposal Analyzer enables corporate legal departments to analyze cost impact with scenario forecasting. 

Now, you can easily assess the impact of your proposed rate increases with clear cost projections based on your historical spend from the previous year. 

Rate Proposal Analyzer offers unparalleled forecasting capabilities that you won’t find anywhere else in the market. 

Strategic Spend Decisions Await…

As organizations continue to prioritize cost optimization, you can’t afford to overpay on your law firm rates.

Our Rate Proposal Analyzer provides a holistic, centralized view of your law firm rate proposals, empowering your corporate legal department to budget smarter, negotiate harder, and make more strategic spend decisions.

Ready to take the next step in your spend optimization journey? Get in touch with a member of our team to get started.