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Electronic Information Resource (EIR) Optimization

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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
  2. 2. Leveraging Information Resources Maximize efficiency and lower costs by evaluating spend, usage and content
  3. 3. Common frustrations we hear from our clients: 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. “ “
  4. 4. Questions that serve as a catalyst 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?
  5. 5. 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? Questions that serve as a catalyst
  6. 6. Pre-negotiation analysis of information resources • 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.
  7. 7. Regular monitoring and assessment • 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.
  8. 8. Key contract negotiation strategies • 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.
  9. 9. More helpful information Report: EIR client satisfaction survey results Case study: In the beginning, there were two
  10. 10. About LAC Group information resource services LAC Group 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.
  11. 11. Contact us https://lac-group.com/contact-us/

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