Digital White Papers

KM17

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63 WWW.ILTANET.ORG | ILTA WHITE PAPER KNOWLEDGE MANAGEMENT Modern KM Is Automatic: Keep the Humans, Just Automate the Knowledge Because these regulations oen are extensive and continually evolving, interpreting and consistently complying can be challenging. Data are oen housed in siloed environments. Fortunately, advanced automation technologies make it easy to embed compliance into lawyers' daily work. As one lawyer makes a nuanced decision based on the data at hand, that expertise is modeled into workflows and processes through knowledge automation. Embedding this knowledge enables subtle judgments to be made en masse, streamlining compliance across the firm. The result is reduced risk, improved compliance and greater operational effectiveness. Enhance Value: Knowledge automation technology not only helps firms operate more efficiently, it also adds value to client relationships by powering faster turnaround, increased responsiveness and higher-quality service. Given that today's clients are beer informed, self-reliant and value-conscious, they are more likely to opt for nontraditional legal service providers. As the balance of power shis in clients' favor, firms must differentiate themselves and communicate the premium value they provide. By integrating legal knowledge, process knowledge and compliance into lawyers' workflows, knowledge automation technology enhances speed, accuracy and value. This allows lawyers to deliver high-quality output, while spending more time building trust with clients. Modernize Services: In the changing market for legal services, innovation is becoming crucial to law firms' continued success. Automation offers new advances in legal service delivery and drives service innovation. Smart forms are an excellent example of service innovation. Firms can capture client data through an online, user-friendly interface that asks the client questions. The client's responses are reviewed by lawyers and mapped directly into contracts, leers and other documents. This gives lawyers more time to address complex issues and collaborate closely with clients on strategy. Law firms also turn to knowledge automation to deliver valuable know-how to clients through secure knowledge portals. These add value to the client relationship by granting clients access to tailored expertise and insights. Portals can focus on industry sectors, practice areas and trending topics, like Brexit and regulatory compliance. Conquering the Challenge Advances in knowledge automation are paving the way for vast improvements in productivity, risk management and overall client service. Firms are moving beyond the traditional concept of knowledge management using technology that leverages the firm's expertise to achieve true differentiation and create real value for clients. Technology must be a top priority for law firms around the world, and the speed at which innovation occurs is accelerating. Firms that can quickly adapt to the changing landscape and meet their clients' evolving requirements will emerge as the firms of the future. Successful implementation of knowledge automation technology will soon be imperative to law firm success. ILTA PHIL AYTON As founder and Chief Executive Officer of Sysero, Phil Ayton leads a talented team of developers and is responsible for driving growth and innovation for Sysero and its clients. His experience in legal technology spans 25 years, with a specialization in document automation and knowledge management. Since founding Sysero in 2007, Phil has partnered with leading law firms across the world to better leverage their knowledge to drive efficiency, quality and service. Contact him at phil.ayton@sysero.com.

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