1. Leadership & Management Division
Welcome to today’s webinar!
May 21, 2014
The Art and Science of Negotiating
and Managing Contracts
with speakers Bill Noorlander and Carol Ginsburg
BILL.NOORLANDER@BSTAMERICA.COM CAROL.GINSBURG@BSTAMERICA.COM

2. Scope of the Content Market Place
• Growing importance as a business tool
• Increasing level of management oversight
• Increasing level of investment – top 3 to5
expense lines within most firms
• Some numbers
– Financial services $25 Billion
– Legal 8
– Pharmaceutical 12
– Governmental Huge

3. Negotiation & Supplier Management
Objectives
• Right mix of content tools for company
requirements
• Best usage right and rules
• Optimal fee models & contract terms
• Proper support levels
• Positive working relationship with Suppliers

4. Critical Steps in Negotiation Process
• Pre negotiation tasks
• Managing time line and negotiation team
• Negotiation strategy & process
• Implementation and execution

5. Pre Negotiation Tasks
• Review contract and Supplier file
• Usage review
• User & internal commentary
• Market perceptions & insight
• Budgetary guidelines & controls
• Determine what is “important”
• Develop negotiation objectives & meeting plan
• Set negotiation time line

6. Managing Time Line & Team Members
• Determine time line and key requirements
• Establish team of internal participants
• Share objectives and meeting plans
• Get as much feedback as possible

7. Negotiation Strategy & Process
• Share negotiations objectives
• Review time line and team members
• Be realistic with requirements
• Define what important
• Use market intelligence
• Remember that negotiations is give & take
• Accept reality – know when to stop
• Win/win – both parties should find results
reasonably acceptable

8. Implementation & Execution
• For new product, or changes in usage levels,
coordinate implementation, training, etc.
• Obtain proper level of document review and
sign off
• Execute the contract
• Write memo on negotiation results,
considerations & promises made – put in
Supplier file for next contract review

9. BST Documentation
• BST White Paper – Business Models for
Information Suppliers
• Objectives for Contract Negotiations
• Negotiations Tips & Tricks

10. Leadership & Management Division
Thank you for attending today’s
webinar!
Your feedback is welcome – please
respond to the email survey.
See you in Vancouver!