Midsized law firms face unique challenges when it comes to knowledge management. As large multinational firms must, they need to provide a solid KM foundation, protect and leverage the firm’s knowledge assets, and utilize the best technology for the firm’s KM requirements—but unlike their larger brethren, midsized firms are often resource constrained. What does KM success look like for midsized firms, and how can you get there too?
Lucidea engages in ongoing discussions with clients and potential clients, where we review the current state of law firm knowledge management. This helps us build an overview of challenges and opportunities—and most importantly, develop real world examples of what success looks like when you have a solid KM strategy combined with powerful technology, whether you buy or build.
Law firm KM challenges and opportunities include:
- Exponential growth of mobile device programs
- Scattered information architecture
- Lack of taxonomies or metadata
- Integration with existing firm systems and applications
- Business productivity versus data governance
You must be able to answer questions such as:
- What exactly are my knowledge assets?
- Who should and does have access to them?
- How do I get the complete picture?
- How do I make decisions on what technology to apply?
So, what does success look like? You can watch our webinar to learn how our LawPort clients achieve it—without the need for third party consultants, expensive connectors or a multi-year, 2-3-person implementation done by your IT department. Key indicators of success include:
- Your portal is the primary source for information storage and access
- Advocacy and contributions from executive management are a given
- The portal is actively, continually populated and managed
From an attorney perspective, you deliver real value through unified access to all your firm’s knowledge assets with a matter-centric approach, enabling them to spend more time on client service and less time searching for what they need to know. Sound good? It’s within your reach.
Creating new knowledge is not simple or intuitive, but for knowledge managers it is worth perfecting because the potential benefits are significant.
KM Methodologies are policies, rules, techniques, procedures that prescribe how knowledge work is to be performed and offer ways to do it successfully.
KM incentive and reward programs encourage compliance with goals, improve performance against metrics, and increase participation in KM initiatives.
KM goals and measurements include targets included in employee performance plans and metrics to track performance against those goals and other operational indicators.