Knowledge is the key to driving value for clients
LPO has been around for some time, initially making headlines about 10 years ago and it was pretty controversial.
Whatever your opinion of LPO, it has piqued the interest of many UK law firms. Perhaps at first it was all about offshoring but that has now turned into driving efficiency, the requirement for resource at an appropriate price and perhaps a means of extending ‘service reach’.
The drivers for change can be seen through the continued pressure on fees, alternative business structures, consumerisation of technology and the effects of the Legal Services Act. Looking to reduce the cost base could be on the menu to help counter these current pressures, and how to best leverage technology.
You might think that’s all very well, but the question is, ‘what does this mean for me?’. Today’s professional landscape is dynamic, ever changing and uncertain.
Isn’t the key for law firms their knowledge? As law firms are under increasing pressure from clients to deliver more for less, those working in KM are well placed to help to deliver innovation in these changing and challenging times, turning knowledge in to value for the client’s benefit.
For me this throws up lots of questions, including
Does this present you with a new opportunity to use KM within the firm to deliver new or improved services to clients?
How can you improve the offering to key clients?
Is there a way to attract increased regular usage of the firm’s website?
Could more effective use be made of services through social media?
Food for thought? But how best to tackle them?