Pitching for business

Pitching for business is now an integral part of the work of every law firm. Clients are focused on value for money when instructing lawyers and want to achieve ever lower prices and better value. As a result, law firms have to be more competitive and willing to offer more to win new clients and new business. The growing use of procurement managers has enabled commercial, institutional and public sector clients to implement rigorous processes that achieve better value for money for the client and can cause challenges for unprepared law firms. With more clients going out to tender and competition intensifying, pitches need to be smarter than ever.

Requests for proposal/invitations to tender

Opportunities to pitch for business come in two main forms:

  1. requests for proposal (RFPs)—these tend to be more general in scope and less prescriptive

  2. invitations to tender (ITTs)—these tend to be more specific and exacting

The aim of a RFP or ITT is to invite potential suppliers of a required service

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Powered by Lexis+®
Latest Practice Management News
View Practice Management by content type :

Popular documents