Seeking out new ways to (bill) financially support the library is a core element of the library modernization. Feit Consulting’s research found that 94% of Libraries that deem themselves “modern” are billing for their time.
Billing for Library time and research services is an easy metric to illustrate use and ROI, if your firm has the necessary tools in place.
Here are 3 tips for how to implement appropriate billing practices.
Billing time allows the Library to function like a business, and provides data for annual budget development. If these conversations are not yet part of one’s annual budget development, it can feel uncomfortable at first but is necessary to becoming a Modern Library.
Michael Feit earned his J.D. from the Loyola University School of Law in Chicago and was an executive at Westlaw before founding Feit Consulting 16 years ago. Feit Consulting partners with law firm administrators and legal information professionals to optimize vendor contracts and the management and delivery of legal information resources by providing leading-edge, customized solutions. Contact Michael at firstname.lastname@example.org