What makes BanyanRFP the better choice for my legal RFPs?
BanyanRFP’s combination of expert consultants and patented software can’t be beat. Writing and processing RFPs can be complicated and nuanced – be it for a panel update or a one-off engagement. Many legal departments do not have significant experience and are uncertain how to structure an RFP to get meaningful apples-to-apples comparisons that will drive both “best fit” and “best priced” counsel selection. Most times, a client’s RFP needs don’t fit neatly in a template. Although BanyanRFP has dozens of well-written templates at the ready, 95% of the time our clients’ RFPs are bespoke, as each client has a unique scope of work.
Is BanyanRFP well-suited to RFPs for individual matters?
Yes. BanyanRFP is a perfect fit for RFPs for individual matters. With the help of BanyanRFP, RFPs for individual matters can be turned-around extremely quickly (from launch to final selection in a matter of days, as needed).
BanyanRFP’s primary approach is full-service. Why?
Ultimately, most in-house teams do not have the bandwidth or desire to manage RFP processes internally. As a result, most clients are biased to a full-service solution.
Is a self-service approach possible?
Yes. The BanyanRFP platform is intuitive and easy to use. If you are interested in a self-service approach, we are happy to discuss.
What results can I expect?
BanyanRFP clients on average see greater than a 30% spread on both proposed rates and total proposed fees. The result is significant savings.
What happens first?
We have a call with the process stakeholders to work through both process and content requirements. With a clear understanding of how you work with outside counsel today, what is going well, and what can be improved, we are able to help you draft a smart RFP that will deliver on your objectives.
Is there software to install?
There is no software to install. You are able to access your secure online account at BanyanRFP with a username and password.
How do we access our account at BanyanRFP?
With the name/email of the account owner, we set up your account in minutes. The client account owner has the ability to grant others team members access, or we are happy to do so.
How are law firms invited to participate in an RFP?
Law firms are invited to participate via an email. The attorney who was invited simply clicks through a link in his/her invitation email, and he/she is prompted to set up his/her account with BanyanRFP.
Do law firms find it easy to create their proposals via BanyanRFP?
Yes. The BanyanRFP platform is intuitive and easy with which to work. Additionally, the law firms have access to a client service representative at BanyanRFP who can help them with any questions that may arise.
Is my data private and secure?
BanyanRFP takes privacy and security seriously. We are committed to keeping your data private and secure. Beyond standard best practices such as SSL, encryption, and strong authentication procedures, BanyanRFP employs a risk remediation team tasked with continuously evolving our technology, policies and procedures to better protect your data.
Who owns my data at BanyanRFP?
Clients own their data at BanyanRFP. BanyanRFP reserves the right to analyze law firm data in an anonymous, aggregated form.
How does BanyanRFP charge for its services?
BanyanRFP charges flat fees for reverse auctions, matter-level RFPs and practice-area panel updates. However, we are always happy to create a proposal tailored to your specific needs. Self service plans available.