Tag Archives for " tools for success "

Does your firm or organization need a Modern Library Audit?

By Michael Feit | Feit Consulting , Modern Law Library , Resources

If you are a Librarian or Administrator who has the mindset of continuous process improvement with the goal of optimizing resources (time and money), the Modern Library Audit provides concrete steps specific to your firm’s needs to achieve this.

In a Modern Library Audit, Feit Consulting’s team of experts conducts a thorough assessment of all legal information functions in the library and the support provided for various departments and practice groups. We evaluate the utilization of personnel, internal processes, technology, legal information resources and the overall support for the business of law.

From the assessment, we develop and present a plan to further modernize your Law Library. What this equates to is a solid plan with clear action steps and ROI for improving how your Law Library operates.

The Modern Law Library is not a destination but an approach to managing legal information resources. Even when a firm reaches the realm of modernizing their law library, changes will occur – internal and external to the firm – that affect the role of the Library and what it provides.

The result of a Modern Law Library Audit is a clear plan with recommendations specific to your firm/organization with the goal of saving money, improving efficiencies, and maximizing the utilization of resources.

If you are ready to take your Law Library to the next level, Feit Consulting’s Modern Library Audit provides a clear path forward. Contact a Feit Advisor today to set up an initial consultation and schedule your Audit.

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.

Strategy, Planning, and ROI Tracking for 2018

By Michael Feit | Best Practices , Contract Negotiations , Feit Consulting , Librarians , Modern Law Library , Pricing , Sole Provider , Vendors

Spring brings about the opportunity to do things differently. Technology and the buzz word – modernization, are on the mind we enter into this new year. There are tactical things you as an Administrator or Librarian can do to stay ahead of the game this coming year, and make technology and modernization optimized within your Library.

Budget – Two key words come to mind with regards to budget: collaboration and reporting. Work with Finance to more efficiently monitor budget and expenses. Establish a new schedule for collecting data, and the date of each month or quarter you will turn around that data. For example, receiving data on the 3rd of the month and providing a report to management on the 10th of each month.

Reporting – What metrics are you using to measure ROI and showcase value? Are you collecting feedback from library users? Are you using an Electronic Resource Management (ERM) tool? If so, are you utilizing its full capacity?

Contract Management Planning – Implement new deadlines for legal information management planning. Most of us mark contract expirations on a calendar or in a tracking program. Go a step further.

• Month 1: Determine which tools you have in place that can provide data on usage, costs, and value. Such tools may include: Invoices, ERM, developing a survey for users, and scheduling one-on-one conversations with attorneys and staff to assess value and usage of products.
• Month 2: Collect data. Based on the tools determined in month 1, begin collecting data. Work with finance to dive into invoices.
• Month 3: Analyze the data. Understand what is your ROI for the expiring product(s). Look at as many metrics as you can: Spend per Attorney, usage, discount, etc.
• Month 4-6: Begin the negotiation process by requesting a proposal from vendor. Remember, it is more beneficial for vendors to wait to the last minute for pressure to sign the new contract. It won’t be easy but start early.

For firms and organizations considering eliminating Lexis or Westlaw, start this process 9 months to 12 months in advance of your contract expiration of either vendor. Assessing vendor preference and combating concerns is a lengthier process than one might think. While it has been done in a month, having more time on your side is always an advantage.

Feit Consulting’s Optimizing Legal Information Pricing is an excellent resource. It shares detailed processes and steps for contract negotiation planning, knowing which metrics to use, and how best to strategize the negotiation process.

The Law Library: A Center of Excellence

By Michael Feit | Best Practices , Feit Consulting , Legal Information Trends , Modern Law Library , Resources

“A Center of Excellence (COE) is a team, a shared facility or an entity that provides leadership, best practices, research, support and / or training for a focus area.”

– Mark O. George (2010), The Lean Six Sigma Guide To Doing More With Less, John Wiley & Sons.

It is no secret that the legal sector is in flux. As clients demand better value for the dollars they spend, firms are taking a hard look at how they do business; analyzing their organizational structure, and evaluating the way services are delivered with an eye towards process improvement.  Out of this structural evolution comes the Modern Law Library.

The top challenges facing law firms today has little to do with actually practicing law.  As costs and expenses rise and revenue drops, law firms are facing major hurdles supporting  their everyday business practices.  How exactly might the Modern Library help?

By moving towards a COE approach, the Modern Library can provide “sufficient and easily accessible legal and business research” so that decision makers have intelligence to make informed decisions for positive results.  Still providing research services, the Modern Law Library embodies evolution, innovation and collaboration.

Where to begin?

A Feit Modern Library Audit evaluates the utilization of personnel, internal processes, technology, legal information contracts and overall support to assess and identify new roles the library might consider within their Firm. Presented are clear recommendations specific to your firm/organization with the goal of saving money, improving efficiencies, and maximizing the utilization of resources.

What better way to start the New Year than with resolutions for improvement. Is it time to consider transitioning your library to a Modern Library and towards a Center of Excellence?

Contact a Feit Advisor for an initial conversation on what this means for your Firm.  

Collaboration – What This Means for the Law Library Today

By Michael Feit | Associations , Legal Information Trends , Librarians , Modern Law Library

A key component of the Modern Law Library is moving outside the realm of Legal Research Support. Law firms have always depended on library and information professionals to support the research needs of their lawyers. While this is still true, great success now depends on the Library taking a more active role in their organization to help support the day to day business of law. See a need, fill a need.

Whether embedded in a practice group to assist attorney teams or partnering with client development to support business development and increase revenue streams, the Modern Library plays a vital role. No one size fits all when it comes to organizational structure.

Begin by assessing your organization and consider who you might target with your message of providing support. If you are going to propose new roles, talk to the involved departments. Understand what they do, their needs and their workflow. How might you assist them with library resources and staffing already in place?  

Beyond Virtualization: Transforming the Law Library elaborates in detail on the concept of collaboration and the many various components worth considering in modernizing your Law Library. Release date is Friday, January 26th. Pre-release pricing now available. Click here to learn more.

ROI of a Modern Library Audit

By Michael Feit | Feit Consulting , Librarians , Modern Law Library , Resources

The Modern Library requires individuals to change their mindset from maintaining the status quo and becoming open to new ways of doing things. What is the ROI of your Law Library? What tools are you utilizing to track metrics? Do you feel the library’s resources are being optimized?

Whether you are an Administrator or Librarian, the goal of becoming a modern law library can have many obstacles – money, time, firm culture.

In a Modern Library Audit, our team of experts evaluate resources, personnel, technology, processes, and overall usage of the Library and its’ resources. In analyzing all of these components, a unique business plan is developed with workable recommendations that are specific to your firm’s needs and culture. Recommendations will include clear steps to increasing the Return On Investment of your Library.

Let an objective team of experts develop a business plan for optimizing your Law Library to support the business of law. Contact Feit Consulting today to set up an initial call on how a Modern Law Library Audit can benefit your firm.