CATEGORY

Legal Services

Legal services includes service rendered in the conduct of proceedings before any court or other authority or tribunal and the provision of advice on legal matters

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CATEGORY ALERTS

HSF?s Sydney office switches to 100% renewable energy

August 18, 2022
alert level: Low
CATEGORY ALERTS

Allen & Overy adds Partner to lead India Corporate Practice

August 22, 2022
alert level: Low
CATEGORY ALERTS

DLA Piper bolsters its Brussels Office through Partner Hire

August 23, 2022
alert level: Low

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Legal Services Market Monitoring Dashboard


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Legal Services Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Legal Services category is 12.80%

Payment Terms

(in days)

The industry average payment terms in Legal Services category for the current quarter is 64.4 days

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Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

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    Legal Services Suppliers


    76,862
    Total Suppliers
    3,767
    Diverse Suppliers
    75
    Normalized Supplier Rating
    Legal Services Supplier

    Find the right-fit legal services supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    ACCENTURE PUBLIC LIMITED COMPANY
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    6
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    58

    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    90
    Social
    42
    Governance
    67
    6 Domains Performance (/100)
    Business behaviour
    58
    Human rights
    55
    Community Environment
    54
    Corporate governance
    72
    Human resources
    29
    Security Scorecard
    97

    Threat indicators
    A
    95
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    100
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    A
    98
    Application Security
    Detecting common website application vulnerbilities
    A
    94
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    99
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    accenture.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    9
    Human Rights Issues
    0
    Production Supply Chain Issues
    3
    Environmental Non Compliance Flags
    12
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    5
    Fraud Issues
    2
    Labor Health Safety Flags
    6
    Regulatory Issues
    3
    Workforce Disputes
    1
    Sanctions
    0
    esg energy transition
    80
    Discrimination Workforce Rights Issues
    5
    esg controversies critical severity
    No

    Legal Services market report transcript


    Legal Services Global Industry Outlook

    In 2019, the global legal industry was valued approx. $730 billion, and it is expected to decline at approx. -0.8 percentto reach $724–725 billion in 2020.

    BREXIT Impact on Sourcing Legal Services

    Impact Area: Law Firms Providing Employment as a Practice Area and Legal Service Buyers Operating in the U.K.

    • The UK's decision to leave the EU is likely to have a significant impact on employment law practice. If the U.K. agrees to negotiate a bespoke relationship, the government would be at liberty to depart from EU employment law by repealing and amending legislation and the decisions of the European Court of Justice (ECJ) will not be binding in U.K. courts.
    • This change will result in a lot of legal and commercial activity and a surge in demand for employment lawyers in light of expected renegotiations of contracts. One of the main tasks for lawyers in this transitional phase will be to examine current employment contracts and terminate those that are no longer valid

    Legal Services Global Market Maturity 

    The maturity of legal service providers in North America and Europe is high, as they command the highest market share. More than 60 percent of the legal spend is concentrated in the developed legal markets of North America and Europe. The APAC region has the highest potential for growth, with many global legal service providers entering the fray.

    Legal Services Global Drivers and Constraints

    Increasing demand for transactional practice areas, like corporate work, real estate and tax work, is driving the demand for legal services. There is a mounting pressure to adopt AFAs and usher in transparency to billing models. These are some major challenges hampering the industry.

    • Law firms (outside counsel)
    • Sufficient recovery from the recession and Eurozone crisis has acted as a catalyst in improving the demand scenario for legal services.
    • Increasing demand for transactional practice areas, like corporate work, real estate, and tax work, is driving the demand for legal services.
    • Increasing demand from the emerging markets, like the APAC region and the Middle East, has also been driving the demand for legal services. LPO
    • Cost reduction and the need for better utilization of internal legal staff for strategic services have led to more work being outsourced to LPO units in low-cost destinations.
    • Favourable government policies, measures taken to liberalize and deregulate policies, reduced licensing requirements and the prospective removal of restrictions on Foreign Direct Investments (FDIs) are driving the need for work to be outsourced to low-cost offshore destinations.

    Law firms (outside counsel)
    Mounting pressure to adopt alternative fees to bring transparency to billing models is acting as a constraint in the legal service industry.
    Increased budgetary pressure to reduce outside counsel spending acts as a deterrent.

    Why You Should Buy This Report

    • It provides information about the global legal market size, market maturity, industry trends, regional and global market outlook, etc.
    • It lists out the industry drivers and constraints and provides the Porter’s five force analysis of the legal market.
    • It provides insight into supply trends, supply landscape, tiering of law firms, etc. and does a SWOT analysis of key players like Latham & Watkins, DLA Piper, Baker & McKenzie, etc. 
    • The report provides the pricing structure, pricing analysis and legal spend benchmarking in the global legal services market.
    • The report shows the best legal market engagement, pricing and sourcing models, PSL strategy, KPIs, etc.