This global supermajor used Fulcrium to put its relationships with external counsel on a sound commercial basis and prevent their market arrangements with them becoming grossly sub-optimal.
The initiative reduced the company’s legal services expenditure by $183 million over a three year period, representing 10% saving annually (as validated by the Supermajor’s financial controllers). Less tangible savings included the fact that the in-house legal team had achieved a reinvigorated relationship with its external counsel and felt a greater sense of control.
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The client’s verdict:
I believe that, as a result of Fulcrium’s involvement, we are five or six years ahead of the other Supermajors in terms of our procurement strategy and implementation for Legal Services and I am very proud that we are in that position.
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