containing costs. The survey give clues how they achieve this. Librarians are sharp negotiators who assess not only price but the comparative value and usability of the content. They also employ sophisticated tools for analyzing the ROI for the resources they invest in. These talents are paying off big time for the firms which employ these experts. It would be interesting for ALM to track the comparative outcomes when firms retain consultant-contract negotiators vs. the library chief with or without the assistance of the internal procurement officer.
The Big Movers
- 58% of Library Chiefs are responsible for overseeing Competitive Intelligence
- 73% report that the volume of Competitive Intelligence research has increased
- 40 % of Library Chiefs are responsible for Knowledge management
- More firms were purchasing eBooks.
- 86% report that they achieved better deals from online providers
- 81% of are embedding librarian in practice groups up from 14% in 2012.
- 49% publish business intelligence newsletters.
- Manzama a social media monitoring tool retained the top stop of news aggregation tools and is used in 49% of the responding firms.
- 72% report that recovery for online research is declining.
- Lexis is winning the sole provider, but spending on WL is almost double the spending on Lexis. It is likely that the decline in cost recovery is accelerating the move to sole provider. Firms have to reduce cost in order to offset lost revenue. Spending on BLaw remains flat.
Questions that Disappeared Last year there were several questions on complexity of research and research shifting from lawyers to information professionals. I do not see those questions in the 2014 survey. This is an important issue and should have been retained.
Outsourcing and Centralization
Low Cost Centers
There have been some high profile big firm relocations of back office staff from NY, DC or LA to Florida, Ohio, Kentucky or West Virginia. Library chiefs should realize that there is an alternative path to achieve similar savings. Some firms already have offices in low cost areas and cost saving benefits can be achieved by simply centralizing administrative processes in those cities.