No matter the size or type of practice of a law firm, almost every firm has had its fair share of preparing responses to Request for Proposals (RFPs).
They can be challenging, time-consuming and an exercise in frustration. But many clients find them helpful as part of managing their relationships with outside counsel. RFPs help clients narrow the number of outside counsel used, control costs and outline key considerations of a relationship between the client and its law firm.
Ideally, you can manage all of those things without having to respond to a formal RFP. But in many companies, the procurement department or the legal operations team require their outside counsel to participate in the RFP process. So, should you find yourself with an RFP on your desk, these steps can lessen the challenges of preparing your response: