Digital White Papers

KMMKT20

publication of the International Legal Technology Association

Issue link: https://epubs.iltanet.org/i/1333327

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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 5 embracing of change management fell from a top challenge in 2018 to an almost nonexistent issue in 2020. Despite the pandemic though, we can still see the wheels of progress pushing the 2018-trending initiatives forward. Client-related programs like extranets (55%) stayed steady, while huge leaps in document automation (72%) and fee estimate systems (75% budgeting for custom built tools and 62% employing matter financial dashboards) remained key functions of KM. The role of KM departments continues to grow in areas regarding strategy as well. We can see a significant increase in the usage of project or practice managers aiding lawyers with the management of legal matters with 63% of respondents noting the employment of PMs, up from 27% in 2018. Further, the impact KM has on firm innovation boosted with 50% noting that KM played a major role in their firms' innovation strategies allocating for increased budgeting of time, resources and funds for innovation initiatives. Like in years past, law firms remain the largest responding organizations with the majority (78%) maintaining dedicated KM departments (73%). As well, the survey points to an increase in dedicated staffing (27% with 3-4.5 people and 27% with 20 or more) proving the legal industry values the contributions of KM within their organizations. Though no one would have predicted a global pandemic or the impact it would have, the overall results show what most of us already know, the importance of KM in law firms. As some respondents noted, they expect the role of KM to increase over the next five years. Given the current state of the world and KM teams' evolving role with virtual communication tools, this certainly seems to be the inclination. ILTA 2 0 2 0 K N O W L E D G E M A N A G E M E N T S U R V E Y R E S U L T S

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