Feet Consulting has expandedf its comprehensive consulting services, Feit 360, to small firms. The Feit 360 for Small Firms services menu includes Contract Benchmarking, Vendor Negotiations, Vendor/Product Vetting, Strategic Planning, ROI Analysis, Library/Information Audit, Sole Provider Viability, Gap Analysis, Guidance for Legal Information Support Services, Metrics Development & Reporting and Technical Library Services Support.
The Feit 360 comprehensive solution has long been leveraged by AmLaw 100/200 firms to optimize library services and gain substantial cost-efficiencies from providers. Extending Feit 360 solutions to small firms levels the playing field for this traditionally underserved segment, challenged by staff and/or budget constraints. Feit 360 for Small Firms will be available on-demand and with a predictable monthly expense, enabling small firms to access the solution offering.
For managers of legal information resources at small firms just as in larger firms, the goal is to purchase the most appropriate tools at the best price. However, there are many factors that contribute to resource management and contract pricing: evaluating value and effectiveness of resources, where to find new efficiencies, legacy contract pricing negotiated before you arrived, contracts based on past vendor promises, legacy usage and recovery rates.
The task, therefore, is not straightforward as legal information needs are continually in flux, pricing strategies are not published nor remain standard from firm to firm, new entrants to the market splinter choices and aggressive pricing strategies by providers complicate the decision-making process. Small firms may not have the resources or in-house expertise to dedicate to the task.
President of Feit Consulting, Michael Feit, remarks, “This is a market that has been historically underserved, but comprises the largest segment of law firms. As new entrants in online research cause market confusion, fragmented purchasing processes and unnecessarily high costs, we are pleased to bring our industry-wide expertise and decades of large firm experience to bear upon the goals and unique needs of smaller law firms.”