KNOWLEDGE MANAGEMENT
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Modern KM Is Automatic: Keep the Humans, Just Automate the Knowledge
Law firms are built on the knowledge and expertise of their
people, so it is no surprise that knowledge management (KM) and
planning an effective strategy are tightly integrated in modern firms.
Increasing client demands, technological advancements and mounting
competitive pressures are pushing firms to take a highly strategic
approach to knowledge management.
A decade ago, knowledge management focused on work product
retrieval and reuse. Today it might be the key to creating a true
competitive advantage. Changing market conditions have shied
knowledge managers' aention from templates and precedents to legal
project management, alternative pricing arrangements and lawyer
productivity. As the effective use of knowledge has a significant effect
on revenue, forward-thinking firms are moving beyond traditional
knowledge management to uncover ways to automate knowledge and
intelligence within their firms.
Facing the Challenges
From shifting dynamics in the relationship between firms and
their clients to greater regulatory complexity, today's law firms face
many challenges as they strive to evolve and keep pace with the
changing market.
Managing Client Expectations. The power in the firm and
client relationship now securely rests with clients. Clients want
quality insight and advice, responsiveness, flexibility and value-
driven innovation. Yet, many firms are not delivering. The "LexisNexis
Bellwether Report 2015" highlights a gap in client and firm perceptions:
While 80 percent of lawyers believe they are delivering above average
client service, only 40 percent of clients believe they receive it.
by Phil Ayton of Sysero
Modern KM Is Automatic:
Keep the Humans, Just Automate
the Knowledge
