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Electronic Information Resource (EIR) Optimization

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By Chase Cost Management's Robyn Rebollo and Nicole Dupras. Leveraging Information Resources: Maximize efficiency and lower costs by evaluating spend, usage and content.

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Electronic Information Resource (EIR) Optimization

  1. 1. Electronic Information Resource (EIR) Optimization Robyn Rebollo & Nicole Dupras June 2017
  2. 2. Chase Cost Management | CCMChase.com Electronic Information Resource (EIR) Optimization 2 Nicole Dupras Manager Legal Research Division CCM Robyn Rebollo Vice President Legal Research Division CCM
  3. 3. Chase Cost Management | CCMChase.com Leveraging Information Resources Maximize efficiency and lower costs by evaluating spend, usage and content 3
  4. 4. Chase Cost Management | CCMChase.com Common frustrations we hear from our clients: 4 The vendor rep has gone over my head, contacting users directly to solicit additional business and increase content. The vendor is not being transparent with pricing. I make recommendations for eliminations or credible alternatives, but the recommendations are often declined. I don’t have time to evaluate my subscriptions prior to their renewal dates. “ “
  5. 5. Chase Cost Management | CCMChase.com Questions that serve as a catalyst* 5 Do you allow enough time before contract end-dates to evaluate resources and examine other options? Who or what drives the information procurement initiatives and projects within your organization? Do you review usage through ERM- or vendor- provided statistics to influence your renewal strategy? *For additional questions, download CCM’s ebook: 99 Questions to Stop Spending More Than Your Competitors at bit.ly/99Qsfree
  6. 6. Chase Cost Management | CCMChase.com Questions that serve as a catalyst* 6 How often do you benchmark your vendor pricing and how are you sourcing reliable data? What tools are you using to evaluate subscription upgrades and products? Are you aware of the ways your vendors grow their margin during the term of your client relationship? *For additional questions, download CCM’s ebook: 99 Questions to Stop Spending More Than Your Competitors at bit.ly/99Qsfree
  7. 7. Chase Cost Management | CCMChase.com Pre-negotiation analysis of information resources 7 • Benchmark contract performance, understanding vendor motivations and key performance indicators (KPIs). • Build a case to lower the cost of a service if traffic decreases or is limited to a small user base. • Downgrade the service to a lower cost option. • Bundle resources to promote further savings opportunities, if applicable.
  8. 8. Chase Cost Management | CCMChase.com Regular monitoring and assessment 8 • Evaluate resources over a certain monetary threshold to determine if still needed. • Continually assess statistics for frequency and meaning of visits, views, downloads and other usage data. • Give fiscal responsibility to user bases and departments through a detailed ledger that itemizes all information expenses. • Monitor and record training issues, reliability, support and overall satisfaction.
  9. 9. Chase Cost Management | CCMChase.com Key contract negotiation strategies 9 • Bundle and term all resources under the same publisher / vendor, if applicable. • Create a business case for considering a switch from one provider to another. • Eliminate the resource if a comparable product is sufficient and already supported within the organization. • Propose multi-year renewals to lower year-over-year price increases, if applicable.
  10. 10. Chase Cost Management | CCMChase.com More helpful information 10 Report: EIR client satisfaction survey results Case study: In the beginning, there were two
  11. 11. Chase Cost Management | CCMChase.com About CCM information resource services 11 CCM works with in-house information professionals at law firms and corporations to assess and implement strategies for improving library vendor services, while optimizing plausible savings on the subscriptions they maintain.
  12. 12. Chase Cost Management | CCMChase.com Contact us 12 Nicole Dupras Manager Legal Research Division CCM Robyn Rebollo Vice President Legal Research Division CCM ccmchase.com

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