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COPYRIGHT 2005 Information Today, Inc.
Knowledge management (KM) has been defined as "the process by which an organization creates, captures, acquires and uses knowledge to support and improve the performance of the organization" (Kinney, 1998). More and more companies are realizing that KM is essential to their long-term organizational effectiveness, because it deals directly with the creation and transfer of company information. Knowledge management is simply necessary to any organization that deals with documents and correspondence in any way and wants to tap into all the knowledge stored therein.
Due to the fast-paced and competitive nature of the investment banking industry, these organizations need to leverage knowledge collection and transfer in order to maintain a competitive advantage. The deal-negotiation process demands that organizations adopt an intuitive and customized workspace for investment bankers to leverage the organizational knowledge for faster deal closing and higher deal throughput.
In addition to the competitive element, the financial services industry is facing a demanding regulatory environment. KM addresses the knowledge capture and retention requirements placed on the industry. The best KM tools will provide a flexible easy-to-use interface that will not interfere with--but will increase--the efficiency of the investment banker.
What KM Can Do
KM helps organizations tap into and control the documents and information that are created throughout the deal-negotiation process. Deal-related content includes contracts, customer correspondence and due diligence. These documents possess the detailed information that the knowledge worker requires on a daily basis.
Knowledge management supports investment-banking teams by providing an integrated work environment to build relationships, win business, close deals and support post-transaction activities. Teams can work across multiple organizations, in multiple geographies and around the clock, resulting in faster and more deal closings. Customized workspaces provide a secure collaborative environment for internal and...
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