Vendor Management, Part 3: Evaluating Vendor Statements of Work (SOWs) (By Cash Butler)
Once you’ve selected a vendor bid from the RFP process, you should move onto efficiently, quickly, and transparently generating a master services agreement and/or a statement of work. These documents serve as the written contract between your firm and the vendor. Without them, in the event something goes wrong, contract terms between your firm and the vendor must be cobbled together from the RFP, bid document, and emails between your firm and the vendor. Having the written document allows you and the vendor to dictate those terms. And with a standard RFP process in place, it should be a simple task to generate an MSA and/or SOW from the terms of the RFP and vendor’s bid. At a minimum, MSAs and SOWs should cover:
Vendor Management, Part 2: Vendor Selection (By David Hancock, CEDS)
I’m going to tell on myself and say that I’ve been in this industry since it became an industry. I remember a time when there were maybe a dozen or so service providers (we called them vendors back then…and for purposes of this article, I’ll revert back to that moniker). Now, it seems everybody and their brother/sister does processing and hosting, among other things. However, some do things better than others.
Vendor Management, Part 1: Evaluating Vendor Requests for Proposals (RFPs) (By Cash Butler)
One of the more challenging and time consuming processes for law firms and corporate legal departments is to compare litigation services vendor proposals and work bids. No two bids or proposals are often ever directly comparable to one another, so review becomes an inefficient, tedious process. But there are steps your firm can take to add clarity and transparency to the RFP process.