P2P

68 P E E R T O P E E R : I L T A ' S Q U A R T E R L Y M A G A Z I N E | W I N T E R 2 0 2 1 and inaccuracies into the firm ecosystem. Without the right strategy and technology in place, finding what lawyers need to work effectively costs time, resources and ultimately money. Unlike knowledge, these are assets most businesses are familiar with measuring. Therefore, it's crucial to bear in mind a key measurement in the digital age of legal KM: knowledge search and retrieval. Where a knowledge search tool isn't yet in place, a rudimentary form of the Army's trusted D e f i n e - M e a s u r e - I m p r o v e (D-M-I) methodology for process improvement can be used, enabling firms to define the average search process, measure process performance and explore improvements. Can the user self-serve needed know-how? Or do they need to call an expert, taking them away from fee-earning work? These processes can be measured, tracked and improved. Where a search solution is installed, firms can prove the value of such a tool by comparing knowledge retrieval times with and without technology-supported search. Taking this further, organisations could also review the average number of searches conducted daily and quantify time waste based on hourly rates, measuring cost savings and cost avoidance from knowledge search improvements. Whatever the approach taken, it is vital to monitor retrieval metrics to highlight the business value of KM, demonstrating the merit in process efficiency and workflow improvement. Technology Tracking Technology is adopted to solve problems or meet business goals, therefore in monitoring tools, we monitor their purpose and contribution towards our objectives. Whilst monitoring something as intangible as knowledge might seem overwhelming, KM technologies such as search systems and digitised libraries can make this process a little easier, spotlighting system adoption and the adoption of knowledge practices – as well as the value of the tool itself. Exploring both technology use and usability, there are a number of approaches that can be taken to measure KM success. T E C H N O L O G Y U S E Put simply, if a tool has proven itself to be useful, then it will be used. If no one utilises the KM system, it becomes an ornament, and not a tool. Frequency of system use by the firm as a whole can be considered, and this can also be broken down into system usage by department or practice area. Nominations of know-how articles (i.e. those containing past advice and information from deals) can be tracked, recorded and reported on, as well as compared to submission rates before the adoption of such a solution. In some cases, firms have also incorporated technology use metrics into KPI targets, making engagement with KM technology a core part of employee's annual reviews - and ultimately their career progression. However, knowledge library solutions often require staff to curate and review content, keeping the information F R O M T H E K M C C T "It's crucial to bear in mind a key measurement in the digital age of legal KM: knowledge search and retrieval."

• Cover