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Opinion: Knowledge management needs serious consideration

Knowledge management systems (people or software) are expensive, and at times are indeed not necessary. What is also true is that many lawyers constantly step outside of their field of expertise - they have no prior experience against which to frame their decisions. Appropriately collated information (easily accessible) at this point becomes invaluable and steps in to provide accumulated experience. Lexis Nexis, however, tells you little or nothing about commercial factors that influenced a decision. We can all point to exemplary examples of lawyers who have a wealth of knowledge and experience - this is bought with time (and time after all is money). Truly experienced lawyers should indeed be "at the coal face", but what of the less experienced lawyer on another deal? I think this article is driving at an interesting point - if you can find a way of cost efficiently using KM to give that guy a leg-up then you have indeed created a competitive advantage.

27-Nov-2009

12:41 pm