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Procurement Market Intelligence Report

Taxation 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 Taxation Law Services?

What is the average price of Taxation Law Services?

This procurement report includes pricing information to help you purchase Taxation 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 Taxation 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 Taxation 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 Taxation 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 Taxation 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 ?

According to ProcurementIQ estimates, there are 8,700 law firms that provide taxation law services. Suppliers of taxation law services operate in a highly fragmented market where the top four suppliers account for less than 30.0% of the market's revenue. With so many suppliers capable of offering tax law services, market... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Qualifications

What percentage of the firm's tax lawyers has a Master of Laws (LLM) degree?

How many employees will be assigned to my case?

How do the attorneys stay up to date with current tax regulations for the states my company operates in?

Do you have experience with international tax preparation?

How involved will your most-tenured and experienced staff be on my case?

What is your repeat business rate for businesses in my industry? How does this compare to your overall rates?

Size of the Supplier

How many employees work at your firm?

What size business do you typically provide taxation law services for?

How much experience do you have with a business similar in scope to my company?

Are your clients usually international?

How many states is your firm licensed to operate in?

Competition

How do you attract and retain clients?

What incentives do you give to long-term clients to stay with your company?

How long have you served your most-tenured client, and how did you retain that client for so long?

As a large company, how do you compete with the emergence of smaller players into the market?

As a small company, how do you compete with the reputation of large established service providers?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased or reduced demand?

Court Experience

What percentage of court cases has your law firm won?

What experience do your attorneys have with court cases?

How do you train new attorneys to handle arguing a case?

How often do your clients' lawsuits end up going to court?

Customer Service

Have you had any major complaints with past clients? How have you dealt with these complaints?

How do you improve client satisfaction?

How do you ensure a high quality of customer service?

How do you ensure the quality of the tax services?

Amid widespread health concerns, what contingency plans are in place to mitigate the risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Employee Turnover

What qualifications do you look for when hiring new staff?

How do you retain qualified employees?

Do you anticipate staff turnover will affect my case?

How do you mitigate the risks of employee turnover?

What type of training or development do you provide for your employees?

Accuracy

What systems and tools do you have in place to ensure the accuracy of your service?

Who identities the errors that may occur?

How often do you experience inaccuracies with your service?

Are documented procedures available to all personnel?

Do you have any pending litigation against you due to errors made by your employees?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should request a fee schedule with the hourly rates of attorneys that may be involved with the case.

Buyers should describe the pricing model they expect to use (e.g., time and materials, retainer-based), and any budget estimates they may have.

Buyers should include their preferred payment schedule.

For guidelines on reasonable prices and price ranges for taxation law services, buyers can consult the Benchmark Price section of this report.

Selection Criteria

Buyers should look for suppliers that have significant experience providing taxation law services.

Buyers should ask for a list of references from current and former clients that address providers’ qualifications and professional competence.

Buyers should give preference to vendors that can meet their budget requirements.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should communicate to suppliers when the RFP is due and when award information results will be provided.

Buyers should define the length of the contract, and disclose their preferred options for extensions.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Suppliers of taxation law services face moderate supply chain risk. Taxation law suppliers rely on computers, software, office equipment, furniture and office space to provide their services. Office furniture manufacturers and wholesalers pose the most risk due to a sudden drop in demand for their products from businesses due to... Subscribe to learn more.

HIGH

MEDIUM

LOW