Swiftwater Analysis: Average Formal Panel Is 8 Firms; Technology Capability Now a Formal Selection Criterion

Swiftwater & Company's law firm convergence guide (published August 2, drawing on Chorus Insight research across 121 organizations) confirms that 64% of law departments now have some form of panel or preferred provider network, with the average formal panel comprising 8 firms and 65% of organizations having reduced panel size in their most recent review. Critically, the selection framework Swiftwater documents now includes technology capability — AI adoption, platform security, and workflow integration — as a formal criterion alongside rate competitiveness, practice-area depth, and geographic coverage. For BD teams managing panel renewals and competitive pitches, this means technology capability documentation is now a panel submission requirement, not a differentiating bonus. Firms that cannot document their AI posture in terms a procurement team can evaluate — approved tools, security certifications, AI supervision policies — face disadvantage in panel reviews that are otherwise closely competitive on rate and service quality.