How AI Is Modernizing Responses to Requests for Proposals

Responding to requests for proposals (RFPs) consumes hours of effort by corporate legal departments and outside counsel. Wolter Kluwer’s Jared Hostmeyer reports that Digital transformation is reshaping this time-consuming process into a strategic opportunity for better collaboration and outcomes, Jared Hostmeyer writes in an article on the company’s website.

CLDs are now using technology to streamline how they issue and evaluate RFPs. They are leveraging modern RFP systems to articulate their strategy, staffing needs, and billing expectations. Integrating generative AI, predictive analytics, automation, and user-friendly interfaces simplifies the process and ensures its accuracy. 

This shift allows CLDS to create more targeted requests for proposals, minimizing the time spent and the guesswork typically involved in the development process. CLDs can thus identify appropriate outside counsel more efficiently, while outside counsel benefit from clearer expectations and more targeted questions, improving their chances of success. In turn, CLDs can make faster, more confident decisions about which firm is best positioned to handle a matter cost-effectively and successfully. 

Data plays a central role, as CLDs emphasize performance metrics such as historical budget accuracy and time to resolution. They can use these metrics, along with traditional subjective responses, to inform their decisions and track future performance.

Beyond efficiency, modern RFP systems also foster stronger, trust-based relationships. Law firms can use them to build new connections and demonstrate their value to CLDs they have worked with before. Meanwhile, returning firms can showcase their track records and deepen existing partnerships by aligning their responses with the CLD’s evolving needs. 

With the modernization of the request for proposals process, CLDs and outside counsel are discovering a more strategic, efficient, and mutually beneficial way to work together. The process is no longer a chore but a catalyst for value-driven legal partnerships.