A large percentage of firms (70+%) do not get competitive pricing on contract renewals. They renew their existing contract at a slightly lower price than what they’re current paying because they already have a relationship with the vendor and there is no one on staff available to manage a full request for proposal (RFP) process.
This can be costly. Our clients save, on average, 13 to 50% on their back and middle office operations when they employ our cost reduction and expense recovery services.
In today’s market, measurements of a law firm’s success are created in the margins, these numbers are undeniably significant and should be acted upon.
Your firm has three choices: proceed with the status quo, investigate strategic expense management, or engage in a pricing exercise.
Strategic Expense Management
Strategic expense management holistically reviews the total value of engagement, accounts for the revenue ramifications – potential client and cost recovery; incorporates contract terms – flexibility, assumption, performance reporting; considers alternative service delivery models that still meet your end users’ needs; and future proofs your contracts.
And when you do negotiate, Mattern drives: signing incentives, performance standard requirements that bring annual savings to the table, and RFP tactics that deliver client relationships.
A pricing exercise saves you money.
Which process does your firm deserve?