Following a Successful Trial, Priori Officially Launches RFP as Part of Its Outside Counsel Selection and Management Product Suite
NEW YORK, NY November 12, 2024 – Priori, the leading legal technology platform for outside counsel selection and management, today announced the official release of Priori RFP, a new software solution that streamlines the RFP process for corporate legal departments. Following a successful trial period that included participation from more than 500 law firms, Priori RFP is now available as a standalone solution or as a complement to Priori Panel Management (formerly Scout).
“RFP is an exciting addition to Priori’s panel management capabilities, which Hearst has been leveraging to find the right attorneys for projects and to manage scorecards and rate review process,” said An Trotter, Senior Director of Operations, Office of the General Counsel at Hearst. “We utilized Priori's RFP during the trial period, and expect it will be an impactful addition for us and other legal departments.”
A Modernized RFP Process to Streamline Outside Counsel Selection
As hourly rates continue to rise and large companies spend hundreds of millions annually on outside counsel, legal teams face increasing pressure to control costs and deliver more value for their outside counsel spend. A recent Thomson Reuters survey found that RFPs are among the most effective ways to control outside counsel costs, yet less than a quarter of legal departments utilize a legal-driven RFP process. Priori RFP enables legal departments to quickly build or enhance RFP workflows to select the best-fit provider for every project.
Developed based on insights from trial users, including Fortune 500 and fast-growing technology companies, Priori RFP is uniquely positioned to enable in-house teams to reduce cost while optimizing for outcome. It allows legal teams to:
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Build RFPs without friction: Priori RFP’s intuitive interface features out-of-the-box and customizable templates. It can also leverage data from Priori Panel Management, which includes 60,000+ lawyer profiles, to quickly identify the right slate of lawyers and firms to RFP.
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Compare bids and strategies: Legal teams can compare and rank options based on a range of qualitative and quantitative criteria.
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Measure and track performance: Customizable law firm scorecards and automated feedback loops ensure relationship data is collected and highlighted. Legal teams can easily integrate data insights into RFP evaluations and track outcomes against matter spend and other goals.
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Collaborate in one platform: Centralized data and communication tools including in-app messaging facilitate collaboration between in-house teams and firms.
Enhancing Law Firm Panel Programs With Integrated RFPs
Priori RFP can enhance Priori Panel Management, a comprehensive software solution for legal departments to organize law firm and attorney data, identify lawyers for new matters and track firm and attorney performance over time. Priori Panel Management includes over 60,000 lawyer profiles with thousands being added every month, reducing the time to value for legal teams looking to implement or streamline their panel management programs.
Together, RFP and Panel Management are a uniquely powerful combination. Using Panel Management’s configurable panel categorization workflow, legal departments can highlight key data and increase panel utilization, strengthening law firm partnerships and driving efficiency and cost control. Adding RFP into Panel Management makes it easy for teams to submit proposals to panel firms, track responses and analyze them alongside historical performance data through dashboards and scorecards.
Connect With the Right Talent, Using Our Network or Yours
With Priori’s expanded software suite legal departments can efficiently manage every aspect of outside counsel selection and engagement. The introduction of Priori RFP alongside Panel Management is a natural extension of the company’s Talent Marketplace, including Flexible Talent and Law Firms.
RFP can connect directly with Priori’s Talent Marketplace, providing access to a vetted network of boutique to midsize firms and giving legal departments more options to find the right providers for any project. Together, the solutions comprise an end-to-end platform where legal teams can find the right outside counsel with the right strategy at the right price quickly.
“From speaking to our corporate legal department clients, it’s clear that thinking about outside counsel resourcing strategically is incredibly important,” said Basha Rubin, CEO and Co-Founder of Priori. “We’ve built a single platform, comprising Priori RFP, Panel Management and Talent Marketplace, that provides a new way for legal teams to make confident decisions, get the most competitive rates, track results and, most importantly, achieve their strategic goals.”
For more information, or to talk to a Priori team member, visit priorilegal.com.
About Priori Legal (‘Priori’)
Priori transforms how legal teams find, engage, and manage outside counsel, connecting them with the right talent at the right price for any need. With over a decade of experience partnering with legal teams, we provide access to flexible talent, a global law firm marketplace, and cutting-edge software for managing law firm panels and legal RFP workflows.
Priori Talent Marketplace includes the company’s network of Flexible Talent and Law Firms. Companies use Priori’s vetted network of 8,000+ legal professionals for common flexible talent uses such as short-term engagements, leave coverage and overflow support, and for traditional law firm support such as local counsel in all 50 states and 70+ countries and niche expertise.
Priori Software Solutions include the company’s panel management and RFP platforms. Priori Panel Management is a first-of-its-kind platform for organizing, tracking and measuring a company’s law firm panel. Priori RFP streamlines the legal RFP process, allowing companies to issue and compare proposals, and track performance.
Contact Information:
Priori Legal
Trevor Johnson, Director, Demand Generation
trevor.johnson@priorilegal.com
646-650-2025 (Ext 721)
