LTH Insights for Corporate Legal/KNOWLEDGE MANAGEMENT BASICS FOR CORPORATE LEGAL DEPARTMENTS

Knowledge Management Basics for Corporate Legal Departments

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Time lost searching for information has long been recognized as a problem for knowledge workers such as lawyers. In 2001, an IDC report found that service professionals were spending two and a half hours every day searching for information. A McKinsey study in 2012 confirmed this finding, showing that 19% of time was spent searching and gathering information, and another IDC report in 2018 claimed that professionals lost 30% of their time searching, gathering and preparing data. Without a central repository within which to organize content, and in the absence of an enterprise wide search system, it’s no wonder that legal departments struggle to find the work product and information they need to perform their work. 

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