$5m
Value of the legal services panel mandate
Panel RFP
Winning Mastercard RFP for Legal Services
Client
Mastercard
Service
Pursuits Support on Demand
A client-centric panel response that articulated the firm's value proposition and won a place on the panel.
Background
Mastercard’s legal department was working with 250 law firms across North America. The company’s procurement team led the RFP process to streamline the management of external legal providers. The objective was to reduce the number of external providers to a maximum of 50 firms to cover all jurisdictions across the United States and Canada. Deepening the relationships with fewer firms would create efficiencies and economies of scale.
The RFP had three stages: Capabilities and Pricing Analysis — firms submitted their credentials, including specific expertise in technology and payment industry, financial regulations, anti-money laundering, sanctions and other relevant practice areas. Expertise, Team and Fees — the company requested team members, profiles, representative work and pricing schedules, with Alternative Fee Arrangements (AFAs) of particular interest. Oral Presentations — the firm invited 50 firms to meet representatives of their legal team and procurement at the company’s headquarters in Purchase, NY.
Approach
Positioning the firm as Mastercard’s strategic business partner, providing legal and strategic advice beyond the RFP’s practice areas.
Winning Tactic A: Mastercard will be a Priority Client — Mastercard mandates take priority before any other work; 24/7 access to Team Leader and Deputy Team Leader; a Mastercard secure firm portal for visibility and transparency; monthly reporting of matters status and invoicing; budget management.
Winning Tactic B: Mastercard will benefit from access to the firm’s CEO and senior leadership.
Winning Tactic C: Partnership will include continuing education, secondments and access to the firm’s alumni network.
let's pursue this — together.