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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.