A knowledge management (KM) program is vital to successfully implement your firm’s industry strategy. KM is really the 21st-century version of library science. It enables the systematic collection of all forms of content and an organized collection and distribution platform, so content can be appropriately shared across the organization. The entire enterprise needs to be connected so everyone can access intellectual content and each other. The firm’s intranet, accessible only to employees or trusted insiders, is the primary IT tool enabling sensitive or proprietary content to be curated, cleansed and shared with your internal audiences.
A conscientious governance plan is also needed, including guidelines that provide the rules of the road on what and how materials get posted and shared. For example, certain kinds of content ― recent proposals or lists of clients who approve the use of their names in proposals ― may change and is difficult to monitor for current accuracy. A governance committee may decide that a notice reminding firm professionals not to reuse proposals or client references without new approval of specific information isn’t good enough. The governance or KM guidelines may limit risk by not allowing this content to be shared internally, even if it’s cleansed of client-sensitive information. In this case, the governance committee should recommend alternative content that helps proposal writers while also preventing stale or inaccurate information from leaving the firm.
KM also enables and empowers communities of practice, including the industry practice groups, which cross the firm’s matrix. The typical firm matrix is comprised of work groups and reporting structures formed by the various lines of business, and the offices or geographic regions that make up the firm. These natural boundaries create silos and inhibit collaboration. The industry groups cross geographies (the firm’s office locations), service line groups, and the world of internal- and external-facing departments. As the industry teams work to build trust, collaboration and camaraderie, their individual intranet portals can help. Offering instant internal communications capabilities, industry intranet portals help build pride in the group’s accomplishments and informally educate team members about the latest trends and the economic environment that affects their clients and prospects, making the entire team smarter and more successful.
