Legal Operations/PANEL MANAGEMENT
Corporate legal departments frequently retain more than one law firm. The multiple firms engaged to represent a client are referred to as the client's panel of firms, and corporate legal departments manage these relationships carefully, including by regularly reviewing their panels to determine whether they should be retaining new firms and eliminating certain existing firms from their panel. It is increasingly common for organizations to stipulate a set of key areas in which their panel firms must exel in order to retain their position on the panel, for example diversity and inclusion, technology and innovation. Panel management solutions support the management of ongoing panel firm relationships - including benchmarking performance - and the selection of new panel firms. Persuit is an example of such a solution.