Global health care giant BUPA has slashed its spending on external legal fees after inviting firms to offer more competitive rates as part of its tender process.
General counsel Paul Newton began reviewing the company’s M&A, litigation and procurement advisers in February. After creating a shortlist, the firms were invited to render their services at lower rates in an e-auction style process. It is understood that the review has led to a 30 percent reduction in the company’s legal costs.
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