DISQUS

Above and Beyond KM: Using Technology to Manage Costs

  • nickmilton · 2 months ago
    Perhaps we should also think about using improved process to manage costs.

    Managing costs of production has been the KM focus for very many industries - automotive, oil and gas, manufacturing. Methods to address these costs have not been purely technological. Simple processes such as After Action reviews, Peer Assists, Quality Circles, Lean manufacturing and the like have been very effective in reducing internal production costs. Shell's Technical Limit approach regularly reduces drilling costs by 40%, for example.

    Perhaps now is the time for a rethink of KM in legal firms, focusing not just on technology, but also on process, and on roles and accountabilities.
  • VMaryAbraham · 2 months ago
    Nick:

    You're right to point out that a focus on technological improvement by itself is insufficient. In fact, I'd suggest that the place to start is to improve process first and then look to technology to make it even more efficient and effective. This would be preferable in all cases except where the technology truly is a game changer.

    - Mary
  • Adine · 2 months ago
    While there may not be agreement on one "killer technology", it is clear that for law firms that do a high volume of somewhat repetitive, negotiated documents, document assembly is a technology which does significantly trim the cost of delivering legal services. It speeds the document drafing time and allows lawyers to spend their time on higher value work where they add the most value. This in tun enhances firm profitability.
  • VMaryAbraham · 2 months ago
    Document assembly can help a great deal, provided you have a sufficient volume of repetitive drafting. If you don't, it's hard to justify the investment of time and energy required to maintain the document assembly system.

    - Mary
  • Mark · 2 months ago
    What about managing the cost of legal research through a Cost Recovery system monitoring the use of electronic resources offered through the law library?

    Consider the following:

    "...costs for electronic re­sources other than LexisNexis and Westlaw rose in 2008, with the average firm spending just over $1 million, compared to some $929,000 in 2007."

    Source: http://tinyurl.com/y98l3ly

    Law Librarians: 'No More Sacred Cows'
    By Alan Cohen
    The American Lawyer
    September 3, 2009