Friday, June 20, 2014

How to Preserve Institutional Knowledge with Contract Management Software

I read a blog posting with the title “How to Preserve Institutional Knowledge” by Ron Askenas.  He has some excellent points that are definitely worth sharing.

  • The core knowledge of an institution often leaves when individuals are promoted, transferred or depart
  • Knowledge disappears even more rapidly when a firm reorganizes or merges with another (We have seen this occur with our healthcare contract management clients)

He suggests that there are a couple of ways to overcome loss of institutional knowledge:
  • First, build an explicit strategy for maintaining institutional memory, even in your own team. Don’t assume that it will happen by itself.
  • Second, as part of your strategy, identify the few key things that you want every member of your team to know or be able to do — and figure out how to turn this from an implicit assumption to an explicit expectation.
  • Finally, use technology to create a process by which your team continually captures and curates institutional knowledge

I had a little epiphany when I realized Contract Guardian Contract Management delivers the capability for capturing the Institutional Knowledge of any organization.  As a result I have written some examples of how to leverage Contract Guardian to satisfy this pressing need.  Read Complete Article.

Learn more about Contract Guardian by calling 513.977.4544 or request a demo

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