Negotiations and Price Guidance
All law firm information professionals have the same goal: the right products for their firm’s attorneys, but at the right price. Now more than ever, achieving the right content mix without overpaying can be a challenge; pricing tactics are increasingly aggressive, in constant flux, and new entrants to the market cause confusion.
Discover Feit Consulting’s Price Guidance and Contract Negotiating Services.
As the industry’s most trusted and experienced resource, mid-to-large firm information professionals seek Feit Consulting’s expertise in:
- Price Guidance Assessment and analysis of your firm’s specific metrics including spend per attorney, usage, discount, and other factors for all your legal research contracts from vendors such as Westlaw, Lexis, Bloomberg and Wolters Kluwer.
- Market Overview Presentation of current market trends and data including pricing stats, strategies and a strategic plan developed for your firm’s specific needs to enhance your ROI in any contract negotiations.
- Legal Information Strategy Development Evaluation of all legal information resources with consideration of firm culture, practices, and strategic goals to identify redundant resources and/or complementary resources the firm should consider adding.
- Online Vendor Audits Review of all contracts and invoices, including terms, common clauses, and billing validation to determine usage/user trends and identify any issues or concerns.
- Contract Negotiations Strategic guidance and/or direct negotiations throughout the renewal process with legal information vendors through contract development and execution.
- Negotiation Coaching Support and analysis for clients throughout the RFP and proposal process, identifying opportunities and altering tactics as the project evolves organically. Firms can have Feit negotiate directly with vendors or advise and develop counter proposals in the background.
- Vendor Elimination Viability Analysis Evaluation of usage, pricing, current content mix, and vendor preference to determine the cost/benefit analysis for eliminating or adding a vendor. A comprehensive analysis of all hurdles the firm might encounter is provided.
- Implementation Plan Following the Vendor Elimination Viability Analysis, develop an actionable transition plan to prevent workflow disruptions. Plan includes; advising in staff transitioning, change management, timeline development and quantifying the efficiencies gained.
Can Feit Consulting help your firm achieve the right price for the right mix of products? A conversation is a great place to start.