Lawcadia provides web-based procurement tools to help companies manage their outsourced legal work.
Lawcadia’s founder, Warwick Walsh, had a vision of a better legal market, and saw an opportunity to change the way companies buy legal services and provide law firms with access to new clients outside of their existing relationships.
Extensive market research across global markets identified that companies and government organisations are frustrated at the lack of accountability and transparency over legal fees. Unfortunately, it is very common for legal bills to regularly come in much higher than the original estimate. Existing procurement strategies utilised by organisations, such as fee estimates, fixed fees, legal panels, and requests for proposals, are not solving the issues of transparency and predictability in legal costs.
Lawcadia’s unique, two-stage legal procurement process works by firstly connecting companies with quality law firms based on expertise and experience, and then provides a competitive procurement process to allow companies to understand the market price.
Lawcadia’s Financial Reporting Tool introduces a clear framework around which fees are reported and, if required, adjusted. Lawyers are then held accountable for their pricing and service through a sophisticated ratings system that allows clients to provide valuable feedback on their experience, building trust and accountability for all Lawcadia users.