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Information and research expenses

Helping law firms and companies control research costs

Overall expenses are increasing for digital and print subscriptions and other research tools and services for meeting the growing demand for reliable information like competitive intelligence, legal research, business and financial research and current awareness.

If bringing those costs down (or keeping them from going much higher) is your objective, you’ve come to the right place.

How LAC Group reduces library and information center expenses

Maximizing vendor relationships

LAC Group manages vendor relationships and their performance against contracts for pricing, service levels (SLAs), key performance indicators (KPIs) and other negotiated terms and conditions.

Evaluating trend data

LAC Group evaluates historical pricing and trend data based on best practices and comprehensive benchmarking data across various organizations and industries.

Consolidating resources

LAC Group examines new and established information resources, user preferences and other considerations to identify savings opportunities that can improve your bottom line.

“For our contract negotiations with LexisNexis and Westlaw, LAC was able to come in and negotiate directly with them. Not only did they save us money, they also took control of the process and brought their influence to the table.”

CFO, large law firm

Paying less for LexisNexis, Westlaw and other subscription services

Enterprise access to information services from companies like RELX, Thomson Reuters, Bloomberg, Wolters Kluwer and others can get costly fast. While they are mission-critical, the way they are evaluated, selected and implemented in large organizations is often wasteful thanks to decision-making siloes, personal preferences, fragmented utilization and other factors.

LAC Group takes a methodical approach to jumping these hurdles and reducing indirect spend for research expenses, starting with an initial analysis and continuing with ongoing support:

  • Review of several months of utilization data such as gross usage, monthly guarantees, questionable usage, content exclusions and more.
  • Reporting of our findings, analysis and suggestions for possible revisions and savings strategies.
  • Support during the negotiation process such as monitoring and comparing needs, usage and invoicing; creating executive talking points; suggested language revisions.
  • Post-contract support for the duration of the contract life cycle including detailed monitoring and reporting of usage, contract performance, monthly guarantees and more.

Adding research procurement value

  • Identifying content overlap or duplication within the organization.
  • Evaluating information vendors, technologies and services across a growing and diverse spectrum of options.
  • Benchmarking your information expenses to determine if you’re spending more or less than your peer group.
  • Exploring pricing options that would be more flexible and favorable.
  • Ensuring contracts are in alignment with your peer group.

Perhaps the greatest value we deliver to our clients is the objective, outside view we offer along with our own fee structure, which are based on savings outcomes, giving you additional procurement and information skills that pay for themselves.

Can we help you control your research and information costs?

As a provider of managed services and leaders in library and information management, consider LAC Group a reliable partner and guide for optimizing your research and information investments.

Working with the staff and systems you have in place, our programs and services are structured along a spectrum that ranges from “help us manage” to “manage for us” with any level in-between.

Let us know your operational and financial concerns and we’ll let you know how we can help you manage and reduce your company’s expenses for research and other library and information center expenses.