Redefining Legal Sourcing
Our unique business model: The Jointly Agreed Tender (JAT)
ValistiQ has designed and developed a perfect procurement model to search and bring the best law firms and service providers in a particular matter and a specific place to compete for working for you, with us ensuring a fair competition and assessing all proposals according to your comparison criteria. All with no cost for your company.
We bring a closed number of firms that meet your search criteria to participate in a competition between them, with all parties (client and participating firms) jointly agreeing that for efficiency and fair competition purposes, ValistiQ will be the coordinator-arbitrator of the tender process and that the firm that is finally engaged will bear the costs of our services (ValistiQ’s Tender Management Service Fees).
How does it work
A simple and efficient service that can be easily adapted to fully align it with your company’s internal processes.
1. Explain us your need
Let us know what you need with as much detail as necessary (NDA in place if required). You may indicate the kind of law firm or service provider you would like to work with on that matter, or impose any other requirements you wish, we will simply work to ensure they are met.
We will listen to every detail and will draft a clear tender document with a precise description of the scope of services that allows law firms to clearly understand your objectives and quote precisely.
Our team can also help you to reconfigure your legal panel in each country, generating massive savings from one year to another without decreasing the level of law firms you work with.
2. Firm Search and Interview
Following your instructions, we undertake a thorough analysis to determine those firms that could be a perfect match.
To start with, me make a preselection of firms. Among other methods, we ask for references from our global network of law firms, service providers and GCs, consider past experiences, observe our client’s ratings and internal scorings, or examine the professional background of their teams.
Secondly, we interview with partners of those preselected firms during at least 30 minutes to confirm they have the required subject matter expertise and that they fully match all your requirements.
You can even request us to invite a particular firm that has been recommended to you.
3. Selected firms jointly agree on the rules governing the tender.
Once the selection of firms is completed, we invite them to compete for you under our Jointly Agreed Tender model, where all parties agree on the rules that will govern the process and appoint ValistiQ as the coordinator and arbitrator of the tender.
As managers of the tender, our mission is to conduct an efficient and fair competition process, establishing clear communications streams with all parties, ensuring that participants respect the rules and comparing proposals transparently under predefined impartial criteria.
4. Tender Process
When the tender rules and conditions are agreed by all intervening parties between all intervening parties the JAT process begins. Participating firms are given the chance to request any further information that they consider necessary for preparing an ad hoc proposal.
Once all requested information is shared with participants, these are provided with a deadline for submitting their proposals.
5. Comparison Report
Once all offers are received, ValistiQ scores each proposal according to comparison criteria previously agreed with you. We then prepare a Report containing all proposals, the results of our analysis and a ranking of firms according to the total number of points obtained.
The goal is that you can easily decide who to work with.
6. Decision & Engagement Process + Follow Up
ValistiQ will always be at your service to review the comparison report and help you decide. For this purpose, we can also schedule introductory calls or meetings with those participating firms that you wish, so you can discuss their proposals with them.
Once your decision is final, we will schedule a kick-off call with the selected firm so both teams can get to know each other and exchange all necessary information. After that call, the selected law firm or service provider will be able to prepare an engagement letter for your company to sign and start working directly with them.
During the duration of the engagement, ValistiQ will remain at your service to help you with any potential issue. For this purpose, we may send you satisfaction surveys so you can let us know if the firm is performing as agreed. Furthermore, our clients’ feedback and surveys are very important for us for our law firm and service provider selection processes.