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Value does not automatically increase 3-5% annually for every product “just because”! To pay increases annually, it would be expected that the firm is receiving more value, content or features than the year before. Complacency or lack of diligence in managing information resources can have long-lasting unfavorable implications on both processes and costs, thereby hampering overall efficiency.
Feit Consulting’s Optimizing Legal Information Pricing shares steps for evaluating the value of your firm’s legal information resources, and arms decision makers with the necessary knowledge and leverage for negotiations. Feit Consulting’s benchmarks provide context for assessing the favorability of your contracts compared to the market.
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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 mike@feitconsulting.com