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Procurement Market Intelligence Report

Bankruptcy Law Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Bankruptcy Law Services?

What is the average price of Bankruptcy Law Services?

This procurement report includes pricing information to help you purchase Bankruptcy Law Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Bankruptcy Law Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Bankruptcy Law Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Bankruptcy Law Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Bankruptcy Law Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Bankruptcy Law Services?

Law firms that provide bankruptcy law services have a low level of market share concentration due to the vast number of suppliers operating in the United States. There are more than 400,000 law firms providing bankruptcy law services operating in the United States in 2019, causing a high level of... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Reputation

What is your process for obtaining feedback from clients?

Who are your top five clients?

Have you had any previous experience with clients specific to the market in which I operate?

Do you have clients that are willing to provide references on your behalf? If so, how can I get in contact with them?

Employees

What qualifications do you look for when hiring new attorneys?

How do you retain qualified lawyers?

Do you anticipate staff turnover will affect my case?

How does your firm mitigate the risks of employee turnover?

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Key elements for every RFP

What should my Bankruptcy Law Services RFP include?

Project Budget

Buyers should specify their total budget for the service.

Buyers should specify their budget for all added fees for travel.

Buyers should state their preference for a pricing model (e.g. fixed price, fixed time and materials, etc.).

Selection Criteria

Buyers should prioritize bankruptcy law firms that are located nearby to reduce lead times.

Buyers should ask for a list of references from current and former clients.

Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.

Project Schedule

Buyers need to indicate the date when proposals are due.

Buyers should indicate the date by which the bankruptcy law service must commence.

Buyers should specify the desired contract length and the potential for contract renewals.

Evaluate major factors to mitigate risk

How risky is the Bankruptcy Law Services supply chain?

The market for bankruptcy law services experiences a low level of supply chain risk. Because purchases only account for an estimated 1.7% of the average supplier’s revenue, the risk levels of upstream suppliers have a minimal effect on bankruptcy law services. Legal services are heavily labor-driven, and market wages have... Subscribe to learn more.

HIGH

MEDIUM

LOW