Category Archives for "Modern Law Library"

Apr 20

Competitive Intelligence: New Roles for Librarians

By Michael Feit | Best Practices , Librarians

Competitive Intelligence (CI) in law firm marketing and business development has finally found its place.  If you were one of the early adopters, you know it was a tough sell convincing the marketing department that CI had a role in the RFP process. Or furthermore that CI was essential for a potential client pitch.

A lot has changed since the early years. CI has established itself as a go-to tool in supporting not only marketing but also the business of law. As a result, CI has opened up new roles for librarians to showcase their research and analytical skills. CI has presented new avenues for interdepartmental cooperation.

To fully embrace this component in your role as Librarian, you should consider the following:

  • Help your firm to identify and purchase the ancillary niche products offered by LEXIS, Thomson Reuters and other providers to support your firm’s CI initiative.
  • Offer your services to your recruiting department to assist in the vetting of lateral partners’ portfolios of business as they are considered as possible firm employees.
  • Get a seat at the table as a Competitive Intelligence specialist, helping your firm grow their bottom line and identify new business prospects.
  • Create and roll out an alerting service on top clients of the firm, giving attorneys touch points of information so they can pick up the phone to call their clients.

Librarians are naturals to fill this critical role and promote Competitive Intelligence within their law firms. If you are unsure of where to start or need assistance in creating a CI business plan to present to management, Feit Consulting can help. If you already have CI in place and need a GAP analysis to gauge the effectiveness of your role, Feit Consulting can partner with you on this initiative. Learn more about working with Feit here.

Mar 21

Measuring The Modern Library – What exactly do your metrics show?

By Michael Feit | Best Practices , Modern Law Library

Change is the only constant. There are changes we can forecast, and there are those to which we must react. Utilizing metrics and analytics will help support everyday operations, and changes at the firm that effect the Library. This data can come from an array of sources: Budget, Electronic Resource Management (ERM), User Feedback and even Associations Surveys.

Let’s start with the budget since this is almost the end of the year and most of our clients are finalizing renewals and expense projections. Consider just how meaningful is your budget? Does it truly reflect your operations? Are you capturing and monitoring revenue streams as well as expense? Are you billing for research services? If so, are you analyzing this data to identify which attorneys are passing on costs, and who is writing off client related expense.

For those with an ERM in place, whether monitoring reference requests or analyzing user data to assess ROI, ERMs are a valuable tool in the arsenal of the Modern Library. Robust reporting capabilities allow the Librarian to slice, dice and analyze data providing a better understanding of what is working in the Modern Library and what might need adjusting, like contracts for online resources seldom used or identification of training opportunities.

Since the Library provides many services, soliciting user feedback is valuable in figuring out what is working and what isn’t bringing value. The Modern Library is responsive to change when it needs to occur. A simple “how are we doing” at the end of a fulfilled request provides real time information and allows for agile change.

With the recent publication of the 2017 Biennial AALL Salary Survey & Organizational Characteristics, valuable metrics regarding salary, staffing patterns, Librarian attorney ratios are available allowing you to benchmark your Library. Are staffing and salaries where they should be for a firm your size?

The value of all these metrics lies in the data the Librarian can use to justify staffing, budgets and to assess the general ROI of the Library. For law firm Administrators, hard data turned into informative charts and graphs can tell the story of the modern Library in a visual way that is powerful beyond the numbers.

Mar 01

Modern Libraries: Paradigm Shift for Legal Information Professionals

By Michael Feit | Modern Law Library , White Papers

The concept of library modernization is more than downsizing space, cancelling print and right-sizing resources. It is a paradigm shift in the way law librarians and knowledge managers assess and deliver services within their organizations. As clients demand efficiency of services and lower costs, firms have been forced to take a closer look at how they themselves do business.

The role of library services within firms has shifted. No longer passively waiting for requests for assistance, librarians have taken on the role of innovator and change agent as they assist their organizations in assessing and creating information strategies to improve workflow and cut expense. Librarians have become interdepartmental collaborators, taking on new roles in Competitive Intelligence, Client Intake and Knowledge Management, to name a few. Staffing models run the gamut, from embedded researchers in practice groups to outsourced services. And as library responsibilities continue to evolve, so do the core competencies demanded of library staff.

In Feit Consulting’s future white paper, Beyond Virtualization: Transforming the Modern Library, our team of experts will discuss challenges and opportunities as well as the various approaches to the changing role librarians can play in the context of the Modern Library. Click here to learn more about this upcoming resource.

Feb 28

Reintegrate, Reinvent, and Optimize your Role in the Modern Library

By Michael Feit | Events , Librarians , White Papers

For those who attended the ARK Conference on Best Practices & Management Strategies for Law Firm Library, Research & Information Services last week in New York, the message was loud and clear. It is no longer business as usual.

While law firms have always depended on library and information professionals to support the research needs of their lawyers, the paradigm is shifting. Success will depend on taking a more active role in your organization. ARK presenters provided viable strategies for librarians to transition into possible management roles by supporting the client intake process, assisting attorneys in managing outside counsel guidelines and a myriad of innovative ways to service the firm’s business needs.

Streamlined and efficient delivery of knowledge was another hot topic, as libraries opt for mobile strategies to push out curated and personalized knowledge to lawyers, regardless of where they reside in the world.

It’s an exciting time for legal information and knowledge management professionals, and Feit Consulting is thrilled to be joining you on this journey. In December 2017, Feit Consulting will offer another white paper in the Market Trends Series, entitled Beyond Virtualization: Transforming the Law Library.

What are the changing roles librarians play in the Modern Library? 

This white paper will help you evaluate your current library structure and align with your firm’s strategy, with discussions on leveraging technology to improve workflow, for promoting efficiency and cost savings.

Feb 27

What Reporting to C-Suite Means for the Librarian

By Michael Feit | Librarians , White Papers

The new way librarians report up can present challenges. In the past, librarians may have reported to a library partner or management committee. As firms streamline management and C-Suite positions evolve, librarians find themselves reporting up in ways that can present not only new challenges but real opportunities. Legal information professionals have the opportunity to showcase their knowledge skills and promote interdepartmental cooperation.

Whether one reports to the CMO, CIO, CFO or COO, it is important to understand their concerns and what keeps them up at night. Knowing the issues facing C-Suite and their strategy to make the firm successful will give you, the librarian, a better understanding of where you fit in and what talents you can bring to the table.

Moving beyond “but they don’t understand what we do” puts you in the role of innovator and change agent. Knowledge is power, and librarians should not underestimate their ability to influence.

CMO’S need to understand that librarians can fulfill the role of Competitive Intelligence professionals, identifying and supporting business development initiatives, as well as assisting with marketing efforts. CIOs can tap into librarian skills of Knowledge Management, helping IT to identify technology and systems to improve workflow. For those librarians reporting up to the CFO, showcasing business skills in contract negotiations and implementation of cost-effective research strategies will show your willingness to work toward growing the firm’s bottom line.

To modernize, firms must assess the best approaches to delivering information while considering cost and work product. Feit Consulting is offering unique opportunities to participate in the development of its Beyond Virtualization white paper. Firms who purchase early have the opportunity to be directly involved. There will also be survey opportunities.

We hope you will join us as we explore the possibilities. For more information about Beyond Virtualization, click here.

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