I think you mentioned some sweetheart deals. I've heard that Clarivate is heavily discounting the software to maintain the renewals business. Is that accurate? Is that something you've observed frequently?

Yes, I've lost many deals because it was an easier decision for law firms for a couple of reasons. One firm, in particular, comes to mind. Their subscription was expiring, and they were using one of the Clarivate products on-premises. Clarivate offered to renew them for another year at $12,000 annually. We were presenting a contract approaching six figures. We couldn't match that price, nor would we. From the law firm's perspective, they chose to delay the decision for another year.

I think you mentioned some sweetheart deals. I've heard that Clarivate is heavily discounting the software to maintain the renewals business. Is that accurate? Is that something you've observed frequently?

A significant issue when firms or enterprises switch systems is the massive undertaking of implementing a new system. Especially for AQX and Anaqua, implementation can take over a year, at least eight months to a year. It can disrupt business operations, requiring resources within the firm to manage the migration and get the new system running. These people have their day jobs. In this case, the firm accepted a sweetheart deal from Clarivate to delay the decision for another year.