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I L T A W H I T E P A P E R | K N O W L E D G E M A N A G E M E N T & M A R K E T I N G T E C H N O L O G Y 33 Doing so enables the firm to turn legal knowledge into products to be sold & reused repeatedly. You are taking steps towards building a predictable recurring revenue machine - allowing the business to make calculated investments into the future. This required foresight across multiple business units and trust in the KM function to deliver value. This is the step that enables the KM function to become external facing. However, there will be short term drawbacks that need to be balanced and mitigated but have enormous long term potential. Closing words This article intends to leave no doubt that a knowledge management function in a professional services organization is required. There is an increasing need for KM teams to be broadly specific, and some time must be spent evaluating the maturity and effectiveness of your team. As you look to the future, reflect on how you stack up: do you have a healthy mix of experience and drive? Is there experience rooted in understanding the practice of law, the business of law, client centricity, design, data analytics, and technology? Within law firms and legal departments, the knowledge function will continue to evolve and will continue to play a significant role in the delivery of legal services. ILTA Ab Saraswat is the Vice President of Global Sales at Litera Microsystems - supporting some of the world's largest and most prestigious law firms with their technology needs. His work focuses on helping lawyers to create & deliver higher quality legal services, faster. Ab also host the Fringe Legal podcast, a weekly show where he speaks with a diverse range of voices about ideas impacting the evolution of the legal profession. Find this additional KM article and more in the Winter issue of Peer to Peer. R E A D A R T I C L E

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