Tag Archives for " improvements "

Jun 08

Can Lexis unRavel Westlaw?

By Michael Feit | Vendors

Lexis announced this week they have acquired Ravel Law. With acquisitions like Lex Machina and now Ravel, Lexis has seemingly cornered the market on analytics and data-driven decision making.

In recent years, due to Westlaw’s incredible popularity with law school graduates, and some notable problems with LexisAdvance rollouts, Lexis’ value–and pricing–diminished. However, Lexis has regrouped, formulating a strategy to rebound by acquiring new, innovative companies and reinvesting in law school programs. Most importantly, Lexis is promising to knit it all together, linking the new products with a common gateway into an improved LexisAdvance.

The Ravel acquisition is an important pivot point, and we think Lexis’ usage and pricing are headed for a bounce-back. Westlaw is ripe for a take-down. The market will continue to become less tolerant of Westlaw’s high pricing compared to Lexis’ (more than double). For the first time in a while, it is an excellent time to ‘buy’ Lexis, for firms that can negotiate a reasonable and optimal price.

Nov 14

The sole-provider option is more than a cost-cutting exercise.

By Michael Feit | Sole Provider , White Papers

The sole-provider option is more than a cost-cutting exercise.
 
Exploration of the sole-provider option shows firms how to pivot to a modern legal information model. Old traditions, such as passing through legal research costs and retaining both Lexis and Westlaw, are no longer the norm.
 
A holistic evaluation of your firm’s current legal information utilization and anticipated future needs will allow you to fully understand whether or not retaining both Lexis and Westlaw still makes sense. Examine what information is actually being used, by whom, and how.
 
Today, roughly 25% of large law firms have unfavorable legal information contracts. Lexis and Westlaw have infiltrated their clients’ culture and infrastructure after so many years of service. This makes the process of vendor elimination or flipping vendors complicated/excruciating for larger firms.
 
Firms that make the decision to go sole-provider and successfully execute will enjoy the benefits of savings, simplified work processes, elimination of redundancies, new complementary products, and an improved vendor relationship.
 
Click here for more information on Feit Consulting’s upcoming report, The Sole Provider Playbook.