Sourcing Advisors and Legal Counselors in the Same Room: How to Leverage Your External Talent

A multi-billion dollar client seeking sourcing advice invited their preferred sourcing advisors and external legal counselors into a teleconference together. The topic: “How might we assure collaboration between your teams after we hire you both?” This wise client was planning early to leverage their external talent.

Of course, the responses were full of polite assurances regarding professional experience and cordial styles while working with diverse groups and perspectives. However, an astute listener would indeed discern that certain opportunities to collaborate could be found and leveraged when advisory and legal firms are focused on the same client objectives at the same time.

Sourcing advisors and legal counselors have played in the same sandbox for many years. It is not uncommon for a competent sourcing advisor to have an excellent perspective on limits of liability, for example, although he or she lacks an attorney’s credentials. Similarly, lawyers have participated in negotiating market solutions, or have staff expertise to guide them through technical details. During the normal activities around serving a client well, these firms can find themselves overlapping each other, which may result in poor coordination and mixed results. The art of collaboration lies in allowing each firm to show their best and highest qualities while working with each other to achieve the client’s goal.

Four Methods for Assuring Advisory and Legal Collaboration

1. De-list individuals that will not play nice. Your sourcing and legal advisors have experience working with multiple third parties, but be sure to check out the individuals assigned to your team. If they don’t fit well, cross them off your roster. Establish the value of collaboration with individual contributors and the managing partners responsible for your account.




2. Clarify roles and responsibilities. Good clients know how to articulate common goals. Teams work well together when “primary” and “secondary” responsibilities are defined and assigned. Discover the highest qualities of each team and play to their strengths. For example, the legal counselor may have primary responsibility for contract negotiations and document control. The sourcing advisor may have primary responsibility for subject-matter work statements, market benchmarks, or financial analysis of competing solutions.




3. Develop a plan. Demonstrate teamwork early by developing a roadmap with measurable results and target dates to achieve your goal. Stick to the plan unless pragmatic reasons cause you to make adjustments. Communicate all of the time to all of the stakeholders. Hold all parties accountable to their roles and commitments.




4. Take a client position. Listen carefully to the business positions, alternative solutions, and minimum-acceptable thresholds as recommended by your advisors and legal counselors. Choose positions based on what is best for your business, not on your fears and uncertainties, and reward your supplier. Don’t foster competition among team members by playing to favorites or strong personalities.

Clients will optimize their advisor’s and counselor’s expertise by fostering collaboration, establishing roles that leverage the best and highest qualities of each firm, and selecting positions that achieve business objectives.