Legal Spend Optimization
Our customers pay the lowest prices in the market through “apples to apples” bidding.
On their annual rate cards, customers escape the “discount theater” market standard and pay the lowest price in the market and avoid the annual 5-7% price increases that law firms push through.
On individual matters, customers can save 15-40% and get greater certainty by having their panel lawyers bid against other existing talent in the market.
Rate Card RFP
Evaluating existing legal spend and comparing to market rates, driving the ability to make meaningful decisions about budgets across current service providers and alternatives
- Market intelligence and index of industry rates
- Minimize step rate increases
- Identify back door rate increases
- Market driven lever to control cost
- Increase in-house negotiation position with outside counsel
Matter Based RFP
Leveraging the world’s most comprehensive data set of law firms and rates to drive dramatic, sustainable cost reduction by matter
- Competition drives rate reduction
- Market-driven pricing
- Optimize matter spend
- Improve business standards
Success With Bodhala
Rightsize work at firms – ensure the right work goes to the right firm.
Annual savings of more than 5% of outside counsel spend.
Identify opportunities to consolidate work across law firms.
Real-time bench-marking from Bodhala Hercules Database.
Stop firms from receiving annual rate increases.
Identify staffing inefficiencies.
Manage firms with their data – send monthly and quarterly report cards for firms to improve.
Measure timekeeper level diversity.
Manage to budget. Enforce compliance with billing guidelines.
Simplify and standardize your annual rate card process.
7-10% greater efficiencies in attorney and paralegal time in finding anonymous billing behaviors that can be re-directed to other tasks
What Our Customers Are Saying
We used Bodhala on a particularly bespoke matter – reorganizing our management arrangements – and were pleased to get a pool of high-quality counsel that our partners used to select a great attorney who was a perfect fit with our firm to oversee the complex negotiations.
Managing Director, PE Fund
Bodhala’s platform saved my company more than $1 million on our recent IPO filing. It was a seamless process that I recommend.
CFO, Software Company
I needed to hire a white collar attorney for a sensitive investigation and Bodhala provided critical expertise to get a cost-efficient price and to ask the right questions to avoid any unwelcome billing surprises for our legal department.
General Counsel, Investment Bank
Try Bodhala Today