LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Global Litigation Services Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the professional services industry. This report breaks down the data and analysis behind the procurement of litigation services and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the global litigation services market can be attributed to factors such as the rise in business activities in APAC and legal complications arising out of Brexit,” says SpendEdge procurement research analyst Tridib Bora. “Organizations in the automotive, FMCG, pharmaceutical, and healthcare industries are increasingly investing in R&D and filing patents which in turn is driving the growth of the litigation services market,” added Tridib.
Key Report Features
|Supply Market Insights||Negotiation Strategies|
|Procurement Best Practices||Category Risk Analysis|
|Cost Saving Opportunities||Key Supplier Analysis|
|Pricing Models||Supplier Capability Matrix|
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- The growth of the global litigation services market can be attributed to the increasing demand for such services from end-user industries across various geographies. The market for litigation services in North America is growing due to the availability of a large number of R&D centers that require IP filings and public listed companies that need financial compliance through security litigations.
- Procurement professionals should adopt systematic procurement practices that allow them to exert better control over service providers, irrespective of the prevalent market forces. This would help buyers manage expenses and service quality in a better manner. Moreover, the buyers should negotiate with service providers not only to reduce expenditure but also monitor compliance. This can further help buyers to streamline their spend.
- One of the major procurement challenges faced by buyers includes the difficulty to find a service provider that offers services at affordable cost and those who can provide transparency within their legal operations. Therefore, the buyers should ask the service providers to provide drafts of case briefs and developments in a timely and efficient manner in order to avoid such challenges.
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Global Litigation Services Market Pricing Trends
The fixed fee pricing model and capped pricing model are the two widely adopted pricing models in the litigation services industry. The fixed-fee pricing model facilitates ease of benchmarking service providers’ quotes against competitors whereas the capped pricing model provides high flexibility and visibility into actual expenditure. Value pricing and commission based pricing model are the other prevalent pricing models. Better quality of services is rendered in value pricing model as the price is based on the value determined. In commission based pricing model the service providers offer remuneration based on the outcome.
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