Category Archives for "Resources"

Nov 30

Spend Those Year-End Reserves on Help for 2018

By Michael Feit | Benchmarking , Resources

If you are fortunate, you may have leftover dollars on some of your budget lines. Think about how you will spend those year-end reserves to best set yourself up for 2018. Spending remaining 2017 reserves wisely can prove to a great investment in the future.

Provided here are quick, year-end solutions that offer excellent Return on Investment for your 2018 bottom line.

  • Benchmark your Lexis and Westlaw Contracts. Feit Consulting will evaluate your contracts, analyzing the Spend Per Attorney, geographical location, practice group mix, and other metrics to provide your firm or organization with a realistic view of how well your pricing and terms are.

 

  • Purchase rich resources specific to an anticipated 2018 project, such as Feit Consulting white-papers.  One of many white papers Feit offers on various legal information management needs is the Sole Provider Viability Decision Guide. This report provides clear steps to analyzing your strategy and evaluating whether vendor elimination is a good option for your firm or organization.

 

  • Schedule a Market Overview Presentation. Gain an understanding of current market trends including pricing stats, strategies and anticipated outcomes for your upcoming contract negotiations – presented in a 1 hour presentation by Feit Consulting Experts.

Contact Feit Consulting today to learn how we can address your legal information year-end needs, and 2018 goals. Click here to get started.

Sep 22

See you at ARK Group’s 11th annual “Competitive Intelligence in Modern Law Firm” program!

By Michael Feit | Associations , Events

Rather than be a target of downsizing or outsourcing, the Modern Library is innovative, forward-thinking and strives to carve out new roles within the organization while showcasing the value of resources and staff. Librarians have a variety of skills that can be utilized in innovative ways, and partnering with Marketing to provide competitive intelligence for business development is just one of them.

FEIT Consulting will be joining our peers, colleagues and clients on September 28th at the ARK Group’s 11th annual Competitive Intelligence in Modern Law Firm program to understand the latest trends in “Balancing opportunity and risk by leveraging intelligence that informs strategic decision-making–expanding the competitive horizon beyond competing law firm practices”.

As part of the Modern Library audit, we often times advise our clients on best practices for evaluating current CI units or how the library might engage with Marketing to provide interdepartmental support by providing research and actionable data on current clients and competitors. As we help our clients explore the challenges and opportunities the Modern Library faces, we want to know what our clients need to know on how best to support the ever-shifting business of law. See you in New York!

Sep 19

New Customers Are Treated Like Royalty

By Kate | Contract Negotiations , Pricing , White Papers

It is not unheard of for companies to offer sweet deals to lure in new customers. “Save $15 off your next Lyft or Uber ride”, only to look up the promotion and find out that you are not eligible because it is reserved for new customers.

Similarly, new customers of Lexis and Westlaw are enticed with great pricing, content sets, and contract terms. If your firm has been a long-time customer of either vendor and has not received recent price reductions, it is highly likely that your contracts are unfavorable.

Find out today how your firm’s contracts compare with the market. Feit Consulting offers contract benchmarking services and products, including our white paper, Optimizing Legal Information Pricing.

Sep 18

Innovation and Value: The Modern Library

By Michael Feit | Modern Law Library , Surveys

Cutting-edge… State-of-the-art… Unconventional… Using the most up-to-date techniques, technology and metrics…

While all these ideas are traits of the Modern Library, the first step to modernization really starts with you, the administrator. Flexibility and an openness to change are necessary traits. Ask yourself: How can I change my habits to actually facilitate change? How can I move out of my mindset of “but we have always done it that way“? What can I do differently to steer the law library team in a new way? Can I provide the space/opportunity for the law library team to innovate and transform?

While law firms have always depended on library and information professionals to support the research needs of their lawyers, the Modern Library is undergoing a paradigm shift. Success now depends on the library taking a more active role in the organization to help support the day-to-day business of law. The law-firm administrator is instrumental in paving the road for that new role.

It is no secret that the legal sector is in flux and change, which is the only constant in our organizations. There are changes we can forecast, and there are those we must be able to react to in order to function as a fiscally responsible unit in our organizations. The Modern Library, a business within a business, is not passive in its approach, but rather utilizes metrics and analytics to forecast, predict and analyze data as changes occur.

Rather than be a target of downsizing or outsourcing, the Modern Library is innovative and forward-thinking. Librarians have a variety of skills that can be utilized in innovative ways such as:

  • Conflicts support for new business intake
  • Partnering with marketing to provide competitive intelligence to support the RFP process
  • Partnering with IT to identify and beta-test software
  • Driving Knowledge Management

Allowing the law library to collaborate with other departments is a win-win for the library and the firm.

The Modern Library is a trend-setter, evaluating and embracing new techniques, ideas and technology to help support business processes. It strives to carve out new roles within the organization while showcasing the value of resources and staff.

Feit Consulting is interested in learning how modern you see your law library, and what obstacles stand in the way of modernization. Click here to get started on our 10-minute survey.

Sep 18

The Modern Library Defined

By Michael Feit | Librarians , Surveys

Cutting-edge…state-of-the-art…unconventional…using the most up-to-date techniques, technology and metrics…

While all these ideas are traits of the Modern Library, the first step to modernization really starts with you, the librarian. You need to be flexible in your approach and meet change head-on. Ask yourself, “How can I change my habits to actually facilitate change? How can I move out of my mindset of but we have always done it that way? What can I do differently to offer value to my organization and make them see me and my library in a new way?” While law firms have always depended on library and information professionals to support the research needs of their lawyers, the Modern Library is undergoing a paradigm shift. Success now depends on the library taking a more active role in the organization, to help support the day-to-day business of law.

While librarian skill sets remain the same, the methods used to apply those skills are vastly different from those of the past. The Modern Library is a nexus for interdepartmental support, including, but not an exhaustive list:

  • Embracing new roles in Conflicts Support for new business intake
  • Partnering with Marketing to provide competitive intelligence to support the RFP process
  • Partnering with IT to identify and beta-test software
  • Driving Knowledge Management

Be enthusiastic about new ideas. The Modern Library is a trendsetter, evaluating and embracing new techniques, ideas and technology to help support business processes.

It is no secret that the legal sector is in flux and change, which is the only constant in our organizations. There are changes we can forecast, and there are those we must be able to react to in order to function as a fiscally responsible unit in our organizations. The Modern Library, a business within a business, is not passive in its approach but rather utilizes metrics and analytics to forecast, predict and analyze data as changes occur.

Preparing and monitoring annual budgets and working with Finance on cost and recovery of client-related research are important fiscal initiatives. With the cost of resources continuing to rise, data-analysis tools such as Electronic Resource Management (ERM) are invaluable in analyzing usage, preparing for contract renewals and general collection development. No longer a nice-to-have tool, ERMs are essential as the Modern Library moves away from print towards virtualization.

Rather than be a target of downsizing or outsourcing, the Modern Library is innovative and forward-thinking. It strives to carve out new roles within the organization while showcasing the value of resources and staff.

Feit Consulting is interested in learning how modern you see your law library and what obstacles stand in the way of modernization. Click here to get started on our 15-minute survey.

1 2 3 4 5 6 … 14