In January of this year, we announced a strategic partnership with Research Contract Consultants, the legal research contract evaluation, negotiation and implementation experts.
With cost recovery for legal research under scrutiny, firms are increasingly absorbing the costs of their legal research platforms allowing recoveries to decline. In 2021, library services experienced the third highest increase in overhead expense in 2021 with a 4.6% YoY increase over 2020 according to Thomson Reuters’ 2022 State of the Legal Market Report.
Firms are challenged to make informed decisions to control the costs of their legal research contracts and proactively manage their content subscriptions. An industry-wide lack of transparency in legal research pricing practices due to built-in confidentiality clauses and increasingly complex subscription bundling, prevent firms from accessing market rate information to ensure competitive rates and optimized content.
As a result, duplicative content, significantly overpaying market rate, and underutilized resources are just
a few of the common but problematic issues information services professionals face.
We offer a complimentary Current State Analysis that provides firms a benchmark of current contracts against the market, analysis of key criteria including content, usage, tools, service, cost recovery, training and price. To take advantage of the complimentary benchmarking of your legal research contracts and cost recovery position, email info@matternassoc.com.
We are thrilled to offer Mattern clients this valuable, new service. We have been helping firms understand the financial impact of recoveries in legal research for some time, and this partnership is a natural extension of those conversations.