Digital White Papers

KM17

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29 WWW.ILTANET.ORG | ILTA WHITE PAPER KNOWLEDGE MANAGEMENT Are You Your Vendor's Captive? How To Optimize Your Research Dollars » Give our lawyers all the tools they need to practice. » Stop charging our clients for database usage (they do not like paying for it). » Offer dedicated staff to handle initial research, increase efficiency and improve quality. Seeing content as a continuum rather than a wholesale shi, we moved forward, initially eliminating duplicative printed resources while promoting and training on digital alternatives. We want to reach a point where we can maintain an information ecosystem in which our users are nimbly and comfortably adjusting to ongoing change. We also want to be able to transition into new products that deliver value in innovative ways. Going with Sole Providers The world of legal information products is dominated by just a few suppliers. To evaluate and balance our resources appropriately, we considered the role these major players would have in our strategy. Achieving our long-term goals necessitated a strict and honest evaluation of our existing tools, especially those from our vendors that reap the largest share of our budget and have the most overlapping content. In her post on 3 Geeks and a Law Blog earlier this year, Marcia Burris discussed why "sole provider isn't really a thing, which is a view that we at White & Case share. The discussion should be around "legal research optimization" and "should include sub-points related to content (primary and secondary), efficiency of use and administration, aorney support, resource interrelatedness and content integration, cost, practice-specific needs, business needs, evolving technology, and client demands. Rather than allowing the status quo to set the tone of our discussions, let's ask what we should include as we build the law library of the future for our firms." As we studied surveys and articles, spoke to many of our peers, and gained insights from our consultants, several things became evident: » While reports ranged from 25 to 35 percent of Am Law 200 firms stating that they have a sole provider, firms are neutral on the selection of their supplier of choice. Year-over-year growth among this group is small but persistent. » Unsuccessful aempts to take this path appeared to be caused primarily by moving too fast, motivated solely by cost-cuing concerns rather than a broad view toward optimizing the firm's research and information paradigms. » Success rarely accompanied a "keeping up with the Joneses" mentality. While the question "What are my peers doing?" oen was asked, decision-making always focused on a firm's specific needs and on whether the firm still receives good value for information the major vendors provide relative to the cost they demand. Aer considering these factors, White & Case's specific needs, and diminished value from one of our largest supplier relationships While reports ranged from 25 to 35 percent of Am Law 200 firms stating that they have a sole provider, firms are neutral on the selection of their supplier of choice.

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