Program Empowers Legal Teams to Manage Outside Counsel Spend and Compare Their Firms on Performance and Pricing
NEW YORK, NY January 30, 2024 – Priori, the leading legal technology platform for outside counsel decision-making, today announced the company is introducing new RFP, reviews and scorecarding features for free during a six-month Early Access Program available to existing and new clients.
The newly launched features will empower legal teams to send requests for proposals (RFPs) to their own trusted law firm networks directly through the Priori platform and leverage structured reviews and scorecards to better track and maintain knowledge about their preferred firms’ performance over time.
Importantly, legal teams will also have the option to receive proposals from Priori’s global legal marketplace of vetted law firms, lawyers, legal operations professionals and ALSPs to compare side-by-side with quotes from their own trusted law firm network, helping them select the right talent and drive cost savings when hiring for new matters.
“We’re incredibly excited to offer these new features that will help legal departments get even more value from our platform,” commented Basha Rubin, CEO and Co-Founder, Priori. “With RFP, reviews and scorecarding available as a value-add to Priori users, existing and new, corporate legal departments will have a first-of-its-kind opportunity to track their firms' performance, compare pricing and source new firms, all through one platform.”
According to the Association of Corporate Counsel, the largest companies have a legal spend of $246 million annually with more than 50% of that spend going to outside resources such as law firms and alternative legal services providers. With so much at stake, it’s unsurprising that optimizing legal spend and controlling costs are among the highest priorities for legal departments. With this program, legal teams at companies of all sizes can access tools that allow them to analyze their current spend, track law firm performance and right-source legal work by sending it to the optimal provider.
Early Access Program
Beginning February 15, 2024, legal teams and Priori Marketplace users can trial the new features free for six months by signing up for Priori’s Early Access Program:
RFP – Send requests for proposals to trusted law firm panels and, if desired, simultaneously receive proposals from Priori Marketplace. Using this structured RFP process, legal teams can negotiate better terms and pricing with their law firms and select the right firm for a new project, whether from existing panel relationships or Priori’s broader marketplace.
Reviews – Leverage private, structured data reviews to better track law firm performance over time, providing legal teams with another key vector to inform and improve hiring decisions and align with company and legal department initiatives.
Scorecarding – Easily and intuitively compare law firm performance through automated visual dashboards. Using this new feature, legal teams can track key performance metrics and use data to make informed decisions about future legal projects or matters.
Priori will highlight these three new features at Legalweek 2024 from January 29 – February 1. To learn more about these product enhancements and sign up for the Early Access Program, please visit the Priori website.
Rethinking Outside Counsel Management
Priori works with in-house legal teams at companies of all sizes to connect legal departments with the right outside counsel for projects globally, saving them time and money. Priori’s clients include everything from Fortune 50 enterprises to leading technology companies. Marketplace is the company’s flagship product connecting in-house teams with Priori’s global vetted network of attorneys. Today, Marketplace provides access to thousands of attorneys at firms of all sizes in all 50 states, 70 countries and covering more than 700 practice proficiencies. Scout takes the hypergranular searching and matching capabilities of Priori Marketplace and leverages them to create a new platform for outside counsel management. Combining Marketplace’s proprietary technology with AI creates efficiencies and delivers unprecedented insights for Scout users.
About Priori Legal (‘Priori’)
Priori revolutionizes how legal teams find, engage, and manage outside counsel. Ranked a Chambers Tier 1 Global LawTech company, one of the fastest-growing private companies by Inc. and a Financial Times Intelligent Business, Priori’s cutting-edge technology powers two products that are redefining the procurement of legal services. Marketplace is a global platform that connects in-house legal teams with new talent from a vetted, global network of attorneys at firms of all sizes. Scout surfaces insights about trusted outside counsel relationships to drive informed hiring decisions and D&I initiatives. For more information, visit www.priorilegal.com.
Jill Black, Vice President, Marketing