Knowledge management plays a key role in in business development across a number of areas, but experience is particularly one of them. And if you think about when you go out to win new work as a law firm. really what you’re trying to do is present why you have more relevant experience, more relevant skill sets than your competitors in the tender or in the RFP or however you might be competing for that piece of work.
So the firms that are able to really quickly access the entirety of their firm’s knowledge understand who knows who, who knows what, what we’ve done in the past, where we’ve been successful and be able to present that in a cohesive way to their clients are going to be much more likely to succeed.
We’ve now seen clients that are really bringing an extra depth there, which is not just about individuals’ knowledge, we’re getting deep down into matter knowledge so that when they go to do a pitch, it’s not just we have the right people, it’s we’ve done all of these transactions before. We’ve done specific clauses that you’re going to need. We know what’s going to happen in this transaction so we can provide right from the get go the optimal way to help you through this challenge.
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