Capture Knowledge

How to treat knowledge as a valuable asset and competitive weapon
It’s a safe bet that the leaders in your firm have years of real-world experience, perspective and specialized knowledge that’s not written down anywhere but which they would be happy to share over coffee. Top-performing firms are beginning to treat such knowledge as valuable intellectual property, capturing it and managing it like any other firm asset.
To handle that job as a natural part of everyday workflow, CCH, a Wolters Kluwer business, offers KnowledgeConnect. This software solution helps identify, record, share and save all insider expertise, making it easy to access that information whenever it’s needed and revolutionizing knowledge management to take firms to the next competitive level.
“KnowledgeConnect is all about communities, experts, sharing and collaboration,” says Wendy Grice, product manager. She points to three key benefits:
Firms can save time two different ways. Leaders don’t have to answer the same questions over and over again. (Once a question is answered in KnowledgeConnect it’s available to anyone else in the firm.) Employees save time because they can search by keyword for answers they need.
Firms can capture knowledge efficiently “before it walks out the door.” The American Institute of Certified Public Accountants has said that 75 percent of knowledge leaders in accounting will retire by 2020. “Firms need to be proactive about capturing that knowledge and sharing it with younger generations,” Grice says.
Firms can identify their “go-to” experts. KnowledgeConnect automatically tags in-house experts based on their answers to questions as well as on their published articles. “People don’t always know who to turn to,” Grice says. “KnowledgeConnect solves that problem.”
KnowledgeConnect will integrate with ProSystem fx® Document, IntelliConnect® and the CCH Support Knowledge Base, providing federated search capability. When you search the term “international tax,” for example, KnowledgeConnect will search across all available databases, and then display results found in each solution. Additionally, the search will display the firm’s experts on the subject, ranked in order of their expertise, so you can connect with them when further collaboration is needed.

“The long-term road map includes integration with all relevant CCH solutions, as well as third-party partners, to provide even more benefits to our customers,” Grice says.

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This story is from the CCH e-newsletter First Choice, written specifically for tax, accounting and audit professionals.   First Choice offers tips, tricks and ideas about how to increase your public accounting firm’s productivity and efficiency.  Every issue also features insights with a tax, audit or accounting professional.

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AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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