As LPO matures it is creating both a challenge and an opportunity for Sourcing & Procurement professionals. While in many organizations, the Legal Department has long kept Sourcing at bay, arguing that “Legal is different” the current economic downturn has started to make them reluctant allies. Whether Sourcing is already engaged with Legal, helping them draft RFPs, create and manage preferred provider panels, and obtain greater control over their spend, or whether LPO provides a timely opportunity to demonstrate value, there is little question that sourcing activities are only going to become more significant in the legal services domain.
From the General Counsel’s Office perspective, LPO may seem both alluring and risky. Alluring for its potential to allow them really to “do more with less” and for the sheer delight of working with providers who know how to manage and report on projects and workflows. Risky, not only in terms of the quality of the work itself, but also for its implications for relationships with outside counsel, which may already be strained in the current environment. “Exploring LPO would certainly be easier with some help from Sourcing, if only they really got what we do,” is the way some put the problem.
In this webinar, Danny Ertel of Vantage Partners will facilitate a discussion on this topic among different members of the SIG community. Rather than a set presentation with a little Q&A, this webinar will function more as a round table, engaging panelists and members of the audience. We will also explore interest in extending the discussion through some collaborative research across firms with different levels of experience with LPO.