Knowledge Management for me should be about enabling employees to make better, more informed decisions, more quickly.

What that means specifically will depend on how it is applied to your business, but for example could mean things like:

• Faster response times to client queries
• Lower skilled/paid staff are able to answer simple client queries freeing up more of the senior staff’s time to add real value
• Service delivery is of a consistently high standard as best-practices are captured and followed
• The firm’s risk profile is reduced as staff are less likely to make poor decisions
• Staff can demonstrate, and be recognised for, their expertise across the whole firm, encouraging staff loyalty and a sense of belonging

Are you getting those benefits from your KM system?