Lots of companies say they’re innovative when it come to reducing legal spend. GlaxoSmithKline doesn’t just talk the talk. It backs it up with a process for selecting outside firms that is saving the company millions of dollars.
The process, called the Outside Counsel Selection Initiative, can be best described as “an electronic procurement bidding auction room,” says Brennan Torregrossa, VP and associate general counsel at GSK and head of the Global External Legal Relations Team. “Think of it as a reverse eBay,” he says.
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