Leading iManage Partner Tiger Eye is releasing a digital calculator for the legal industry, highlighting the potential cost of ineffective knowledge management.
Dubbed “The Hidden Cost of Knowledge Loss and The Business Case for Blueprint,” the dual-purpose calculator demonstrates the possible cost of inefficiencies in the knowledge search process and the prospective return on investment delivered by the firm’s flagship knowledge management product, Tiger Eye Blueprint for iManage.
Hosted on the Tiger Eye website, the calculator utilizes data from the APQC (the American Productivity and Quality Center)—a world-leading authority in process improvement and knowledge management.
Firms are invited to toggle the calculator fields to enter their staff count and average hourly wage in order to generate the potential cost of knowledge retrieval inefficiencies, as well as the possible cost-savings offered by Blueprint for knowledge searching.
Users can also request for a copy of their personalized report to be sent direct to their company email address, so that the data generated can be used for business cases, internal communications, and presentations.
With the APQC reporting that over 52% of knowledge workers say their productivity is hurt by findability problems, Tiger Eye aim to encourage the legal industry to take advantage of the proven benefits of knowledge management, including reducing time wasted on searching extensively for knowledge and expertise and recreating knowledge that already exists.
“At Tiger Eye, we have long been ambassadors for the benefits of knowledge management—not just within our marketplace, but within our own business, too. Yet, as any Knowledge Manager knows, proving quantitative return on investment for KM processes and technologies can be complex. We hope that our newly-launched calculator will help legal knowledge teams to demonstrate the true value of their vital efforts and focus,” said Dave Wilson, managing director of Tiger Eye.