Law firms will always need legal research tools.
However, for over a decade now, the pricing practices of the leading vendors in the space have become increasingly secretive while new, bundling practices of their leading products has increased the complexity of procuring the right content mix at the right price.
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.
At the same time, cost recovery for legal research has been under scrutiny. Firms have been slowly but surely absorbing more of the costs of their legal research platforms. In fact, 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.
In a market like this, how can your firm make an informed decision about its legal research needs and get a contract for the right price for the right content?
Are you ready to make informed decisions about your legal research contracts? Contact us here about the complimentary Current State Analysis offering.
Mattern can help.
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. Additional offerings include:
- Desired State Analysis
Interview users to determine the range of services, tools and content desired as well as firms’ financial and growth objectives.
- Vendor Engagement
Define scope of tools and content, conduct discovery meetings, coordinate trial, define proposal parameters, negotiate and finalize contract.
Establish customized training based on predetermined needs analysis, ensure maximum cost recovery where possible, managed by RCC.