Year-End Vendor Gifts Too Good to be True?
By Kate | Best Practices , Contract Negotiations , Pricing
Year-end holidays are full of fun, gifts, giving and cheer!
But beware of those special tidings from your legal information vendors that seem too good to be true.
Westlaw, Lexis, Bloomberg, WK–virtually all your legal information vendors–provide bonuses and incentives to salespeople who can add incremental sales at the end of the year.
Vendors may offer year-end gifts that on the surface seem quite generous. The resulting variety of offers can be staggering but can also be tricks. Your firm may be offered price breaks on new contracts, extensions on current deals, trial periods of new products, and the list goes on and on. There may be something hidden in these special tidings. If a vendor has proposed to extend your contract at the same price or slightly lower price, it is very possible your firm is already paying too much.
Be proactive this December! Get the gift you truly want. If you have a wishlist, tell your vendor now; you just might get a deal you actually want. Don’t play “Secret Santa” with your vendors; take a moment now to anticipate the year-end push, and alert the rest of the firm to be wary of reps bearing gifts.