If law firms want to take a client-centric approach to their knowledge management, throwing technology at it isn't the first answer. Instead, the firm needs to know what information is important to their clients and deliver it as quickly and comprehensively as possible, according to a panel at Legalweek.

The panel, which was titled “Joining Forces—Create Client-Centric Knowledge Management” and took place during the final day of Legalweek, noted that in order to build a successful knowledge management system law firms need to understand their clients' needs and industry. 

“Don't assume it's all about technology. It's more about conversation,” said Scott Bailey, global director of research services at Squire Patton Boggs.

 Steven Lastres, director of Debevoise & Plimpton's knowledge management services, agreed that conversation is key and noted that technology can be used to clearly map out the existing relationships entities and attorneys have. That tool can easily allow a law firm to see who is best positioned to pitch potential business.

He added that knowledge management systems are key for quickly serving client needs. “Clients are smart consumers of legal services and they want to pay for your expertise and know-how. They don't want you to reinvent the wheel every time they come to you with a legal problem. One of the things we need to be doing as a law firm is responding quicker to what the client is asking for, and knowledge management inside law firms helps us do that.”

Lastres noted law firms can also benefit from knowledge management because it forces them to continually organize their clients' data.

“It also enables us to be more efficient, having all the information pertaining to a client in one place,” he said. “You can't share information about the client and the work product you do for the client unless you are organized. Part of knowledge management is creating systems and processes by which this information gets organized.”

As law firms invest in data-tracking platforms, in-house is also turning to knowledge management technology to carefully track outside counsel metrics, including their billing rates, services and diversity, Lastres added. 

Likewise, as law firms may face stiffer vetting from general counsel and a possible recession, commoditizing their knowledge management systems can become a revenue option.

Sukesh Kamra of Norton Rose Fulbright said his firm created legal tech solutions to present information for clients' regulatory-specific questions. The solutions also provide Norton Rose lawyers contact information, if the user has follow-up questions.