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Information Asset Analysis: Subtract Costs and Multiply Value for A Better ROI

Nick Collison discusses some of the opportunities he’s discovered leading Couranto’s Information Asset Analysis team.

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Several years ago, a global specialty chemicals company realized its knowledge management approach was not meeting the needs of their organization. With over 15,000 information-hungry employees spread across 100 countries, it was a challenge to manage licensed content, databases, digital services, memberships, and subscriptions efficiently and effectively, providing users with ready access while saving time, money, and resources and getting the best value on their information budget.

The company came to Couranto to investigate how they can streamline their knowledge and information systems, eliminate contract redundancy, reduce costs and manage user access to the data available to them.

Clarity + Publication and Subscription Management

Couranto’s Clarity™ Service combined with Couranto’s Publication and Subscription Management module is unique in the industry. Our review of this multinational company’s subscription system revealed significant duplication of information assets; their processes as well were duplicative and unnecessarily time intensive. All of which led to their engagement of Couranto.

After an information audit and needs assessment, the Couranto team was able to identify opportunities for the client to eliminate duplication spend and implement a process and system that would lead to right-sized licenses, renewals, and subscription spending.

Couranto enables the administrators of the system to easily and efficiently (1) manage licenses, subscription purchasing, and renewal information and dissemination; (2) review usage analytics and allocate costs across multiple budgets; and (3) evaluate the entire license subscription collection. The streamlined procedures and administrative support for license management enables the in-house team to do what they do best and let Couranto assist. Couranto’s detailed usage statistics by user level, division, group, region, etc. help companies, like this one, right-size their information spending with purchases, renewals, and memberships thereby reducing waste and redundancy.

Through the Couranto Clarity Knowledge Management portal, the end-user has easy access to content and administrator communications. With the realities of a global corporation, the ease for the end-user is equally as important as that of the administrator. End users efficiently access the information and knowledge they need to inspire ideas and innovation, and excel in their positions. Instead of fighting a complex system with too many passwords to count, the end-user saves time and Couranto reduces their frustration.

Couranto offers unmatched benefits to the company, contract managers and end users, and provides exceptional expertise in the field of corporate license and subscription management.

Publisher Negotiations

During the Couranto team’s review of the company’s knowledge and information management procedures, it became clear that like many other multinational companies, the client could take advantage of better pricing options on their licenses and subscriptions.

Couranto’s experienced publisher relations group consolidated agreements across the company and harmonized terms and conditions across multiple subsidiaries and user groups. By engaging the Couranto negotiations team, this client (1) reduced its spend on licenses and market data; (2) secured the best possible commercial terms; (3) right-sized agreements; and (4) was better informed on terms and conditions with benchmarking and reviews. All of this enabled the company to get more information for its budget and move forward favorably.

ROI

In partnership with the Couranto team, this global company was able to evaluate their information spending and system to right-size. Couranto helped to:

  • Eliminate unnecessary subscriptions and knowledge services;
  • Avoid duplicating information resources;
  • Empower staff to easily and efficiently monitor usage;
  • Reduce administrative time;
  • Consolidate invoices, single point of contact;
  • Streamline changes in the subscription collection;
  • Identify opportunities for information and subscription savings;
  • Establish evaluation metrics for license renewals and subscription spending;
  • Activate Couranto network of publisher offers and negotiations;
  • Take advantage of all that Couranto offers its clients; and
  • Form long-term connections with the broad information community throughout the client’s multi-national organization.
Interested in what Couranto can offer your business?

Contact Nick Collison for more information.


Learn more about the author

Nick Collison

Nick Collison

Director, Content and Library Support, Couranto

nick@couranto.com

Nick Collison has decades of experience in managing information access, budgeting, strategic planning, and knowledge services. Collison is a Fellow of SLA, the Special Libraries Association.