RFx Legal Spend Management


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RFx Legal, LLC Corporate Fact Sheet

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RFx Legal Spend Management

  1. 1. Corporate Fact SheetOverview: A Competitive Marketplace For Legal ServicesRFx Legal provides legal spend analytics, e-Sourcing software, and RFP automation to drive significant cost savings for buyers oflegal services. Our platform also generates new business opportunities for legal service providers 1.Legal costs have risen every year for the last decade, despite harsh economic conditions. Why? Because competition is virtuallynonexistent in the world of legal services.Yet competition is essential. It ensures that the price paid represents the best value. RFx Legal amplifies the competition in themarketplace, driving significant cost savings for buyers of legal services.How It Works: Process Automation and CompetitionWe offer market intelligence and proprietary tools to help companies leverage their buyingpower to negotiate better rates with legal service providers. We are essentially a turnkeyprocurement solution for legal departments. Our software platform: • Identifies qualified service providers • Automates the request-for-proposal (RFP) process • Facilitates apples-to-apples comparisons among firms and analysis of cost When law firms compete, clients win. implications of firm selection • Creates an online marketplace where law firms and other legal service providers bid on work opportunities.In addition to our core e-Sourcing tool, RFx Legal also offers spend analytics and legal services procurement staffingsolutions.Legal Spend Analytics & Procurement StaffingLegal spend analysis tools enable legal departments to analyze historic internal legal spend data and comparemarket rates for legal services. With access to $5 billion of legal spend data, RFx Legal currently provides currentmarket rate comparisons on legal services, as well as in-depth reporting and analysis on companies’ historic legalspend data.1 Other legal service providers include e-Discovery providers, contract legal staffing firms, court reporting services, etc.
  2. 2. RFx Legal LLCRFx Legal also provides overflow procurement staffing to legal departments. With an internal sourcing projectmanager, legal departments can: • Implement spend management processes much more quickly. • More easily identify appropriate projects to source using the RFx Legal application. • Devote time to practicing law as opposed to managing a procurement process.FAQsQ. How is RFx Legal different from other procurement platforms?A. We focus exclusively on the legal services spend category. In addition, our application was designed by lawyers specifically for sourcing legal services. We offer the nation’s most comprehensive database of legal RFP templates, legal fee structures, F1000 legal departments, law firms and other legal service providers.Q. We have long-standing relationships with our existing legal service providers. How does a solution like this impact those relationships?A. We are not introducing anything new. We are merely automating a widely-used manual RFP process. The difference in what we do compared to existing methods is that we create a hyper-competitive environment - something that cannot be accomplished using a sealed bid process. In addition, every time a law firm responds to an RFP, it not only promotes its firm brand to prospective clients, but also demonstrates alignment with client goals. Finally, our process is more transparent than a manually conducted, sealed bid format RFP. Through participation, law firms gain access to more work opportunities along with valuable market intelligence.Q. We are not interested in competing solely on cost. Is this process purely price-driven?A. Absolutely not. Choosing a law firm is a complex decision, and is rarely a price-driven. Our process and tools simply give clients more information on which to negotiate and base decisions on firm selection.Q. How much can we reduce our outside legal spend?A. RFx Legal’s e-Sourcing solutions enable clients to reduce outside legal spend by 15% to 40%. For managed legal spend of $5 million, that’s equivalent to $750,000 - $2,000,000 in savings.What Companies Are Doing NowLarge companies routinely use manual RFP processes to source legal services. However, existing methods are not onlycumbersome and time-consuming, but they miss the mark by failing to create a truly competitive environment. In the absence ofa greater competition, determining market rates is impossible. CURRENT FUTURE Manual Process Automated Process Sealed Bids Live Bids Budget Uncertainty Budget Predictability “Standard” Rates Market Rates Uncontrolled Legal Spend Managed Legal Spend Legal Cost Increases Legal Cost SavingsRFx Legal LLC | Corporate Fact Sheet 2
  3. 3. RFx Legal LLCCase StudyCompany: RFx Legal was recently engaged by a Fortune 500 company to source firms to handle a transaction involving the acquisition of a company that operated within a regulated industry. Consequently, the transaction required lawyers with niche regulatory expertise, and the company desired to engage a new outside counsel firm within one week.Solution: The client provided RFx Legal with one document: a term sheet. After identifying the firms in the U.S. with the requisite expertise, the RFx Legal project team designed an RFP that defined the project scope, and through the automated proposal platform, collected the necessary information from all the firms. RFx Legal not only streamlined the engagement process and enabled the client to make an apples-to-apples comparison among the firms, but also amplified the competition, resulting in fee proposals containing true market rates.Results: Fee proposals for this matter revealed savings in the amount of 30%. RFx Legal standardized the fee structures, provided an apples-to-apples comparison among firms, and managed the entire engagement process from start to finish, which enabled the legal department to focus on getting the legal work done. RFx Legal LLC | Corporate Fact Sheet 3
  4. 4. LeadershipJoe Freedman | Chief Executive OfficerMr. Freedman is a Founder, Manager, and Board Member of RFx Legal, LLC.He also serves as Chairman and Chief Executive Officer.   In this role, Mr. Freedman has overall responsibility for the companysstrategy, organization and operations.Mr. Freedman is the former Chairman, Founder and Board Member of Investigative Compliance Source, LLC and AMERICANLegal Search (ALS). Listed on Inc. Magazine’s Inc. 500 and Inc. 5000 as one of the fastest growing, privately held companies inthe United States, ALS has also been a recipient of numerous awards including the Future 50 Award and one of the Best Placesto Work from several of American City Business Journals and regional journals. ALS has also been a recipient of BusinessTNMagazine’s Fast 50.Mr. Freedman has spent the last 20 years in the legal services industry working with Fortune 1000 companies, and consulting withdomestic and international law firms.  Prior to launching ALS, he founded AMICUS Legal Staffing, Inc. (AMICUS). As the CEO ofAMICUS, he and his management team transformed the start-up company to the largest, privately held legal search firm in theUnited States and later sold it to a NYSE-listed company.  During Mr. Freedmans tenure, AMICUS received numerous awards forexceptional growth and in 1997, the company was ranked 99th on the Inc. 500 list. In his role at AMICUS, Mr. Freedman wasnamed a finalist for “Entrepreneur of the Year” by the Nashville Business Journal. Following AMICUS, Mr. Freedman became afounding member/investor in Background America, LLC which was later sold to Kroll Inc. – the world’s leading risk consultingcompany. Mr. Freedman was also a founder and board member of several service businesses including two technologycompanies with international offices in Egypt and India.With more than a decade building domestic and international legal and technology service businesses, Mr. Freedman’sentrepreneurial spirit has touched a number of individuals and companies throughout the US and abroad. He is an accomplishedbusiness executive with extensive experience launching, growing and managing new ventures. Mr. Freedman currently serves asthe Treasurer and is a member of Board of Directors of The National Association of Legal Search Consultants (NALSC), anorganization that represents the legal search profession and is committed to promoting ethical standards among its members. Healso serves on NALSC’s Ethics and Audit Committees. Mr. Freedman has served on numerous civic boards including theEntrepreneurs Organization (“EO”), Nashville Technology Council, Partnership 2010s Entrepreneurship Task Force, Nashville Zooand Buddies of Nashville. Mr. Freedman is currently the membership chair for the local chapter of EO. Mr. Freedman earned aJ.D. degree and a B.S. in Finance.
  5. 5. RFx Legal LLCCourtney Sapire | President and Chief Marketing OfficerMs. Sapire is a Founder, Manager and Board Member of RFx Legal, LLC.Courtney Sapire is a Founder, Manager and Board Member of RFx Legal, LLC. She also serves as President and Chief MarketingOfficer. In this role, she is responsible for directing RFx Legal’s marketing, sales, services and strategic partnerships.Ms. Sapire is also a Founder, President and Board Member of Momentum Legal, LLC, a legal services and consulting firm, and theFounder and President of Sapire Search Group, Inc., a legal and executive search firm specializing in the recruitment of lawyersand related professionals for corporate legal departments. With two decades of experience in the legal industry, Ms. Sapire beganher career as a lawyer in private practice. Transitioning from the law firm domain to the technology sector, she joined pcOrder.com,a publicly-held, business-to-business supply chain technology company. She later served as Director of Business Development foreLaw.com, a comprehensive online knowledge base of legal analysis and work product focused on the delivery of premium legalcontent to the worldwide legal services industry. Prior to establishing her own firm, Ms. Sapire directed the marketing strategy for alarge legal staffing company. During that time, she successfully re-branded the company and launched a new national practicearea, while consistently exceeding yearly sales goals for Fortune 1000 and mid-market clients.Ms. Sapire received her B.B.A. in finance in 1989 from the University of Texas at Austin, where she was on the Deans List ofAcademic Excellence. In 1992, she received her J.D. from the Southern Methodist University School of Law and was published inthe SMU Law Review. Ms. Sapire serves as a member of Board of Directors of The National Association of Legal SearchConsultants (NALSC), an organization that represents the legal search profession and is committed to promoting ethical standardsamong its members. She also maintains a Senior Human Resources Professional Certification, and is a member of the AmericanBar Association, the State Bar of Texas, the Energy Bar Association, the Society for Human Resource Management, the WomenísEnergy Network of Houston, the National Association of Women Lawyers, the American Marketing Association, and the LegalMarketing Association.en’s Energy Network of Houston, the National Association of Women Lawyers, and the Legal MarketingAssociation.Michael Hickey | Board of DirectorsMichael Hickey serves as a member of the RFx Legal Board of Directors.In this role, he is an appointed member to the board responsible for overseeing the activities and operations of RFx Legal.Mr. Hickey has served as Vice President and General Counsel of Rosetta Resources Inc. since August 2005. Previously,Mr.  Hickey served as Vice President Law and Secretary of Technip Offshore Inc., from April 2004 through July 2005. FromSeptember 2000 to March 2004, he was with Calpine’s North American E&P and midstream group, serving as Vice President andManaging Counsel from May 2003. He served as Vice President, General Counsel and Secretary of Kosa B.V. from December1998 until August 2000.Mr. Hickey holds a Bachelors of Arts degree in English and a Juris Doctorate, both from the University of Tennessee, and has beena practicing lawyer for over 31 years. In addition to being a director of RFx Legal, he is a director on the board of the non-profitcorporation, Serenity Retreat for Healing and Spiritual Renewal.RFx Legal LLC | Corporate Fact Sheet 5
  6. 6. RFx Legal LLCC. Kent Kirby | Board of DirectorsMr. Kirby serves as a member of the RFx Legal Board of Directors.In this role, he is an appointed member to the board responsible for overseeing the activities and operations of RFx Legal.Mr. Kirby has been providing wealth management advice to individuals and families of substantial means for more than 17 years.Prior to joining UBS in 2008, he was a Private Wealth Advisor with Merrill Lynch’s Private Banking and Investment Group. A formerUnited States Navy Surface Warfare Officer, Kent leverages his knowledge and experience in advanced planning and strategywhen working with clients.Mr. Kirby has been named multiple times by Barron’s Magazine as one of the top financial advisors in the country. He has traveledacross the country to speak to various professional advisory organizations on topics pertaining to ultra high net worth families andtheir investment strategies. In addition to holding Series 7, 8 and 63 securities licenses, he has also been awarded the CertifiedInvestment Management Analyst (CIMA) professional designation.A graduate of the United States Naval Academy in Annapolis, MD, Mr. Kent earned a B.S. in political science. After serving aboardthe guided missile frigate, USS John A. Moore, Mr. Kent spent time in the United Kingdom where he taught anti-submarine warfareto officers of the British Royal Navy at the School of Maritime Operations in Portsmouth, England. When not at work, Mr. Kent,along with his wife, Nora, stay active with their nine year old daughter. They support her school and various other localorganizations, such as the Humane Society, Nashville Zoo and Frist Museum.John Dyck | Advisory Board MemberJohn Dyck serves as an advisor for RFx Legal.In his role as an advisor, Mr. Dyck is responsible for counseling RFx Legal’s leadership staff regarding legal matters, assuring thebusinesses they work for comply with legal requirements and policies.Mr. Dyck is an experienced lawyer, manager, investor and entrepreneur. Mr. Dyck began his career as a corporate and internationalattorney in the Washington, DC and Austin offices of Baker Botts, where he represented public and private companies in a broadrange of domestic and international transactions and other regulatory and corporate law matters.As Vice President and General Counsel of the Millennium Challenge Corporation (MCC), Mr. Dyck managed the corporation’s legaldepartment and served as corporate secretary to a public-private Board of Directors that included the U.S. Secretary of State,Secretary of the Treasury and U.S. Trade Representative as well as former governors, senators and business leaders. In that role,he oversaw the negotiation of more than $3 billion in investment and development agreements with foreign governments, advisedthe CEO and the Board on legal and compliance matters and served on the corporation’s investment committee.Prior to joining MCC, Mr. Dyck served as Chief Counsel for the Bureau of Export Administration and the Bureau of Industry andSecurity in the U.S. Department of Commerce, where was a member of the Bureau’s senior executive team and managed a teamof regulatory lawyers and litigators responsible for developing U.S. licensing and enforcement regulations and prosecutingviolations of U.S. export controls.Before his government service, Mr. Dyck was the founder and president of eLaw, Inc., a 50-person, venture-backed technologycompany in Austin, Texas that provided premium legal content from leading law firms to Fortune 500 and other corporate lawdepartments. Mr. Dyck’s business experience also includes management of a real estate investment partnership and consultingbusiness in Panama.RFx Legal LLC | Corporate Fact Sheet 6
  7. 7. RFx Legal LLCJon Dyck is President of RS Materials Group, LLC (RSMG) and Rock Solid Stone Quarry, a leading Texas quarrier and fabricator ofnatural building and landscape stone. RSMG provides natural stone products to a broad range of customers throughout theSouthern United States, from small stone retailers and building contractors to big box retailers such as Home Depot.Mr. Dyck received his B.A. in Government, with distinction, from the University of Virginia and his J.D., with honors, from theUniversity of Texas School of Law.About RFx LegalRFx Legal delivers the first suite of spend management and procurement tools created by lawyers for legal services. Solving thetop challenge for legal departments, the RFx Legal platform reduces outside legal costs and builds stronger relationships betweenclients and service providers. As the category leader for legal procurement solutions, RFx Legal helps organizations make betterdecisions on how to save and spend valuable resources. For more information, please visit www.rfxlegal.com.RFx Legal LLC 209 10th Avenue S. Ste 230 Nashville , TN 37203 T 888-739-5345 F 866-793-8007 Info@RFxLegal.com www.RFxLegal.comRFx Legal LLC | Corporate Fact Sheet 7