CUSTOMER: Fortune 500 Energy Company
After completing a merger, the energy company’s GC realized both companies were using similar law firms. The newly merged entity now represented a much larger number of hours for each firm, increasing their leverage in rate card negotiations. The GC wanted to request new rate cards from their overlapping firms.
But collecting and analyzing new rate cards seemed too daunting of a task a – tedious, manual process It typically required hundreds of man-hours to complete, sometimes with little improvement.
Solution: Bodhala Rate Card RFP Management
Using Bodhala’s Rate Card RFP management tool, the energy company was able to send customized requests to all their law firms at once. Then, instead of receiving quotes in various formats and document types, all their quotes were housed in one centralized place where they could be easily compared and analyzed.
The project owner could easily request revisions to specific quotes, simplifying the entire process from start to finish.
TIME SAVED: 400+ Hours
Creating the RFP took less than an hour and streamlined the review and selection process, taking it from weeks to days.
The customer was able to easily see rate increases, do side-by-side comparisons against their other firms, and analyze the rates to determine a successful negotiation strategy.
Bodhala makes RFPs and strategic firm selection easier and faster than ever before. Transparently lifting up rates, discounts, and timekeepers makes comparing proposals is fast and easy.
Plus, you maintain an easily accessible archive of past quotes for quick reference in the future.