Tag Archives for " guide "

Feb 20

If your firm is going sole provider, do you have a change management roadmap to guide the process?

By Michael Feit | Sole Provider

With the majority of firms already making the choice to retain just one vendor, the market has proven that firms don’t need both Lexis and Westlaw to operate successfully. Until a decade ago, more than 85% of law firms had both Lexis and Westlaw. The vendors offered products with a lot of unique content, making it justifiable to have both. Additionally, approximately 90% of costs associated with online research were passed through to clients.

Since the 2008 recession, recovery rates have dropped to 36%, overall usage is down and continuing to decline, and Lexis and Westlaw products have become quite similar. While there is still some unique content, it is not enough to justify firms retaining both. And, fortunately, there are many workarounds to alleviate concerns about lost content.

The idea of transitioning to sole-provider can be daunting, considering the many individuals and processes that might be impacted. There are a great number of elements to examine, from contracts to content, not to mention the strong reactions of users to fundamental system changes. Lexis and Westlaw have both successfully infiltrated law firms’ cultures and infrastructures over their many years of service.

Feit Consulting offers a variety of resources to help firms and organizations transition to sole provider. Firms and organizations can engage with Feit Consulting to provide project management direction, tools and resources to implement the change from two provider to one provider, or for some firms and organizations – flipping from one vendor to the other vendor. Feit Consulting will evaluate your specific needs to determine our role and pricing that is customized to your firm’s needs.

Flipping vendors or eliminating a vendor can provide substantial savings, however this process requires an intense amount of time and planning. Let Feit Consulting guide your firm or organization through the process. Contact Feit Consulting today to set up an initial consultation with our team of experts.

Mar 20

Sole Provider is not for every firm. Have you evaluated the option for your firm?

By Michael Feit | Feit Consulting , Sole Provider

The sole-provider option is not for every firm, and largely depends on your firm’s legal practices, recovery rates, contract pricing, and usage. While the option may not be the right decision for every firm, an evaluation of the sole-provider option is necessary for law firm administrators.

The idea of transitioning to sole-provider can be daunting, considering the many individuals and processes that might be impacted. There are a great number of elements to examine, from contracts to content, not to mention the strong reactions of users to fundamental system changes.

Whether or not a firm chooses to go sole-provider, the evaluation in itself provides an opportunity for a firm to review, revise and refine its legal information strategy and potentially save significant money. In a secret pricing market, knowledge is power. Knowing to what extent the sole-provider option is viable for your firm can serve as great leverage in contract negotiations.

Feit Consulting’s Sole Provider Viability Decision Guide walks legal information administrators through the pre-decision process, and lays out the groundwork necessary for informed decision-making. Learn more about this resource here.

Contact Feit Consulting today for a free consultation on what sole provider means for your firm. Click here to get started.

Jun 16

Don’t Be a Hostage to Your Vendor

By Kate | Sole Provider , White Papers

Many firms become a hostage to their vendor due to timing. The timeline for negotiating is dictated by contract expirations. Two or more years of dedicated planning allows for adequate time to evaluate the value of legal information resources and consider if vendor elimination or flipping to another vendor is an option. Your firm may get stuck with a vendor simply because there is not enough time to explore other options.

The idea of transitioning to sole-provider can be daunting, considering the many individuals and processes that might be impacted. There are a great number of elements to examine, from contracts to content, not to mention the strong reactions of users to fundamental system changes. Lexis and Westlaw have both successfully infiltrated law firms’ cultures and infrastructures over their many years of service.

An evaluation of the sole-provider option has become necessary for law firm administrators. Whether or not a firm chooses to go sole-provider, the evaluation in itself provides an opportunity for a firm to review, revise and refine its legal information strategy and potentially save significant money. Additionally, understanding the value of choosing either Lexis or Westlaw for your firm can be advantageous in negotiations.

The Sole Provider Playbook has been developed to be an all-encompassing guide, with tools to quickly determine the viability of the sole-provider option and how to actually execute it. If your firm first wants to only evaluate the sole-provider option, then the Sole Provider Viability Decision Guide is a great starting place. Click here to learn more about Feit Consulting’s Sole Provider Playbook.

Jan 16

Busting the Wexis Duopoly

By Michael Feit | Sole Provider , White Papers

The Lexis and Westlaw duopoly has been broken. More than 50% of large law firms have made the choice to eliminate either Lexis or Westlaw. The norm of having both Lexis and Westlaw has officially ended. For firms who currently have both Lexis and Westlaw, how do you assess whether the sole-provider option is right for your firm? And if so, how do you implement this huge-change management decision? The Sole Provider Playbook is an essential resource for law firm administrators to assess the viability of the sole-provider option. This step-by-step guide details what components to include in your business plan, from the cost/benefit analysis and content hurdle issues, to making a recommendation to firm management. The Playbook includes checklists, detailed processes, hurdles and solutions, a sample presentation and much more. This is a must-have tool for every law firm administrator.

Click here to learn more about The Sole Provider Playbook.

Jan 15

Introduction & Purpose (Excerpt from The Sole Provider Playbook)

By Michael Feit | Sole Provider , White Papers

Vigorous debate continues regarding the viability of a large law firm successfully operating with just Lexis or just Westlaw. However, for the first time since the early 1990’s, retaining just one of these vendors has become the norm. Today, nearly 51% of large law firms have opted to retain only one vendor.

An evaluation of the sole-provider option has become necessary for law firm administrators. Whether or not a firm chooses to go sole-provider, the evaluation in itself provides an opportunity for a firm to review, revise and refine its legal information strategy and potentially save significant money.

In a perfect world, Lexis and Westlaw would publish retail pricing, and firms could pick and choose which products they wanted based on their practice needs and budget. This ideal world does not exist today, as both vendors have discontinued standardized pay-as-you-go retail pricing. Instead all they offer is secret pricing and terms that vary greatly from firm to firm.

The idea of transitioning to sole-provider can be daunting, considering the many individuals and processes that might be impacted. There are a great number of elements to examine, from contracts to content, not to mention the strong reactions of users to fundamental system changes. Lexis and Westlaw have both successfully infiltrated law firms’ cultures and infrastructures over their many years of service.

Yet, the pay-off in taking a deep look at these factors can be exceptional. A midsize U.S. law firm with favorable pricing will spend well over half a million dollars annually to retain both vendors. There was a time not long ago when firms could pass through online legal information costs to clients, making Lexis and Westlaw essentially free. That is no longer the norm. We have entered a new paradigm.

This is what inspired us to write the Sole Provider Playbook. It is intended to empower you and your firm to break free from the vendors’ shackles. In a world where every law firm is searching for efficiencies, the Playbook presents a clear path to savings. Our team of experts has carefully examined each step of the process, and we aim to provide a range of solutions to any obstacle whenever possible. Meant to be an all-encompassing guide, Playbook will provide your firm with tools to quickly determine the viability of the sole-provider option and how to actually execute it.

Order your copy today!

Sep 15

“Sole Provider” Early Subscriber Opportunity to Collaborate with Feit Experts

By Michael Feit | Sole Provider , White Papers

Many firms have questions and concerns about whether their firm should explore, and how best to evaluate, whether the sole-provider option is the best for their firm.

The Sole Provider Playbook report provides critical tools for assessing potential content loss, gaining associate and management buy-in and much more. The report shares guidance on how to make this complex decision. This step-by-step guide walks firms through the entire sole-provider process, from concept to implementation.

Feit Consulting is offering a special collaboration opportunity for early subscribers. By subscribing pre-release date, firms will have the opportunity to ask Feit Consulting to cover any specific hurdle, question or topic related to vendor elimination. With over fifty firms expected to participate, every hurdle imaginable will be covered. Learn more here.

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