Implementing Knowledge Management in management consultancies
At CB Resourcing, we have helped many growing consulting firms implement knowledge management over the years. In particular high growth consulting firms or those planning on an exit often have urgent growing pains linked to the following challenges:
- Building consistency across proposal templates and client deliverables to ensure disparate case teams work from ‘best practice’ documents and methodology
- Capturing and mapping internal expertise across the firm to make the firms’ insight, data and experience accessible
- Creating communities of practice around key capabilities and industry groups
- Defining and codifying ‘what good looks like’ to build a consistent view of best practice
- Driving knowledge sharing behaviours across service lines and geographies with ‘time poor’ stakeholders
Effective KM strategy starts with people and process, then technology. A significant part of most KM implementations we see at CB Resourcing involve a collaboration platform such as Sharepoint.
Our experience however is that clients do not need the ‘Rolls Royce’ when it comes to technology. A practical and intuitive system mapped to your processes, will drive engagement with users and deliver far better outcomes than a platform with excessive functionality and complexity.
Consulting firms that implement knowledge management see a range of benefits:
- Substantial decrease in the duplication of efforts across the firm
- Increased win rate resulting from more targeted leveraging of the firm’s expertise for each bid as well as sharing opportunities between service lines and industry groups
- Better client outcomes from effective ‘lessons learned’ processes feeding into firm strategy
- Easier on boarding of new hires into house methodology and style
- Improved ability to recognise opportunities for service offerings/capabilities
- Showing a connected experience to clients through a joined up approach to account management
- Speaking with ‘one voice’ in the firms thought leadership activities
If your consultancy is facing any of these challenges or looking to grow your existing knowledge team please contact hello@cbresourcing.com for a confidential discussion. We take a blended approach to sourcing the right expertise for our clients whether you need a consultant, interim and/or permanent hire we will work with you to define the right approach.
Related insights below:
Source Global the leading advisory business for the consulting industry suggest that knowledge management implementation is a key differentiating capability that underpins services such innovation consulting.
As expertise focused businesses all of the top tier consulting (MBB), law firms and professional services firms (Big 4, large SI’s etc) have well established teams tasked with knowledge management and have done so for many years.
CB Resourcing’s Knowledge Leadership Network have looked at how critical KM teams are during the current digital transformation driven by Covid19 emergency.
Knowledge Management is of increasing interest to the private equity sector.
Hiring your first Knowledge Manager