2019 Law Firm Procurement Survey Report
This is the fifth year that HBR Consulting has conducted its Law Firm Procurement Survey. The annual survey is designed to equip procurement leaders, along with firm leaders, with a point of reference for advancing and elevating the role of procurement and an industry-focused baseline to benchmark against their peers through year-over-year survey data analysis. In addition, the survey provides insight into relevant topics and challenges facing the broader legal industry.
This year’s survey was conducted in advance of HBR’s annual Law Department Procurement Roundtable, held in October 2019. The annual event is a unique opportunity for legal procurement leaders to network and discuss key procurement trends, supported by HBR survey data.
This executive summary highlights some of the survey's key findings, including:
- The continued maturation of the procurement function’s influence and structure;
- The growing importance of vendor governance;
- The need to improve vendor diversity management; and
- Recession and business downturn planning efforts.