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Procurement Market Intelligence Report

Legal Management Software
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Legal Management Software?

What is the average price of Legal Management Software?

This procurement report includes pricing information to help you purchase Legal Management Software. 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 Legal Management Software 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 Legal Management Software 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 Legal Management Software?

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 Legal Management Software 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 Legal Management Software?

There is a high level of market share concentration among legal management software providers. The largest two providers, RELX Group (owner of LexisNexis) and Thomson Reuters (owner of Elite), dominate the market and generate more than 50.0% of total revenue. Even though these two companies are dominant, the market contains... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Reliability

What is the minimum internet speed required to reliably access your legal management software?

Do you have limits on how many users can access your system at the same time without risking performance standards?

Can your software be easily accessed through mobile devices?

Do you have backup servers to ensure reliable access?

Have your customers ever experienced slowdowns in accessing your legal management software?

Maintenance & Support

How often do you provide upgrades for your software?

What is the availability and schedule of your support staff?

What user training resources do you provide?

What is your product road map for your legal management software?

Do you offer free training on new features after product upgrades?

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Key elements for every RFP

What should my Legal Management Software RFP include?

Project Budget

Buyers should provide the budget for their purchase of legal management software.

Buyers should indicate their preferred terms for invoicing frequency and payment methods.

Buyers should state whether they wish to bundle any other services with their legal management software purchase to achieve a discount.

Buyers can refer to the Benchmark Price section of this report to determine whether they are paying a competitive price for legal management software.

Selection Criteria

Buyers should evaluate vendors based on the features of their legal management software.

Buyers should consider the level of security the software provides for client information.

Buyers should evaluate legal management software based on which devices they can use to access it.

Buyers should reference the Buying-Decision Scorecard section of this report for additional information about selection criteria.

Project Schedule

Buyers should state the date by which vendors need to submit their proposals.

Buyers should include when they expect the legal management software to be implemented in their operations.

Buyers should state when vendors will be informed about contract awards.

Buyers should indicate how long they wish their contract to last.

Evaluate major factors to mitigate risk

How risky is the Legal Management Software supply chain?

Legal management software providers face little risk of input price shocks or service shutdowns resulting from upstream supply issues, indicating that supply chain risk has been low in the three years to 2019. Low supply chain risk boosts buyer power because it means that providers are unlikely to suddenly increase... Subscribe to learn more.

HIGH

MEDIUM

LOW