Libraries and vendors face significant challenges in the new digital publishing environment. One of these challenges is to manage the information and workflows necessary to acquire and provide access to electronic resources. The growth of electronic journals and databases has both complicated and transformed the acquisition and servicing of library materials. New information and workflows are required to evaluate, select, acquire, license, catalog, and manage electronic products throughout their life-cycle. Current library systems and standards have not kept pace with these changes. In the absence of existing software solutions, many libraries have begun to design and build local automated tools to address this gap. Surveys of locally developed electronic resource management systems reveal a high concentration of shared goals, issues and functional specifications, indicating that the time may be right for a collaborative approach and the establishment of best practices and standards. This chapter will describe the progress that is being made on this front by participants in the Digital Library Federation (DLF) Electronic Resource Management Initiative (http://www.diglib.org/standards/dlf-erm02.htm).