Gold-standard vendor governance for the legal industry
A Vendor Management Office is the end-to-end procurement managed services solution. We can establish a Vendor Management Office either to serve your individual vendor management initiatives, like expense management, or as your entire procurement function.
Assessments are conducted to determine solutions tailored to your environment and goals. Based on your needs, services provided can include:
- Expert strategic sourcing based on benchmarking, analytics, and relevant market experience.
- Vendor legal contract review services inclusive of drafting, negotiation, execution, and storage.
- Business intelligence dashboards to assist in the procurement management process.
- Managed services that may range from individual vendor management activities to managing the entire procurement function.
Solutions recommended by the Vendor Management Office are paired with the right technology to facilitate your vendor management activities. SpendConnect, for example, is a technology-enabled service that consolidates vendor data into a proprietary reporting and document management platform to better manage vendor costs and respond quickly to risk management and compliance queries from your clients.
Your organization will benefit from:
- Better buying power with access to our $3B+ in buying power with vendors common to the legal market.
- No staffing single point of failure with our bench of vendor management professionals.
- Vendor-specific Subject Matter Experts who negotiate every day with law firms’ core vendors.
- Procurement process experts who help improve your service levels and efficiency through the vendor lifecycle.
- Protection of firm interests as a result of consistent assessment of vendor risk, deployment of firm terms & conditions in contracts, and monitoring compliance.
- Elevated spend reporting tied to vendor contract data and analytics enabling you to respond to the frequent client requests while understanding vendor usage, contractual health, and supplier diversity.