Everyone knows that tenders put a lot of pressure on law firm marketing departments, but how surprising that can be when you start putting the numbers into it. On average, companies spend about 46 hours on a particular tender, or 4,738 hours per year, costing the company about $959,141.34 per year, but these numbers often increase to more than 100 hours on a call for tender, or $2 million per year.
When you take these numbers and consider that law firm success rates are around 18%, you can begin to wonder what can be done to improve this process.
