What’s happening to RFPs during the pandemic?

“Running mini-RFPs on a matter-by-matter basis to choose from among their panel firms helps clients select the right firm, at the right price, at that point in time,” says Jim Delkousis, CEO and founder of RFP platform company PERSUIT and a former Big Law partner. “This yields significant savings above and beyond pre-negotiated and discounted hourly rates — and the reason why is law-firm capacity. At different points in the year, law firms often have excess capacity and can provide a more competitive fee arrangement to their clients.”