Despite immense popularity, firms are no longer tolerating the price disparity between Westlaw and Lexis. Lexis has turned a corner. They have been buying up a lot of exciting new products.
Lexis is offering Westlaw preferred firms an array of products, a suite at a price that is a percentage of Westlaw comparables. Westlaw’s stronghold is waning as firms learn to develop work arounds for alternative Lexis product offerings.
Before, firms did not have the wherewithal nor time to combat attorney pushack. Recovery rates continue to diminish, leaving less dollars in the firm’s pocket. We now see firms taking the time to plan ahead to consider eliminating a vendor. This adequate planning is allowing for smoother transition and substantial savings to the firm. As we see larger firms make the transition to having Lexis solely, we project the trend to increase more rapidly.
If your firm or organization is interested in assessing whether vendor elimination is the optimal path, check out our step by step guide on the Sole Provider Viability Decision Guide. For a limited time, Feit Consulting is offering a special year-end price on this report. Click here to learn more.
Michael Feit earned his J.D. from the Loyola University School of Law in Chicago and was an executive at Westlaw before founding Feit Consulting 16 years ago. Feit Consulting partners with law firm administrators and legal information professionals to optimize vendor contracts and the management and delivery of legal information resources by providing leading-edge, customized solutions. Contact Michael at firstname.lastname@example.org