Due to the extensive development und use of information technology, a lot of companies gained access to vast internal and external information sources. Yet nonetheless, efficiency when dealing with information and trying to find the right content is not on an appropriate level. Managing terms and classifying information has a long tradition in Knowledge Management, namely by the usage of glossaries and taxonomies as two instruments of Terminology Management. But even with today’s portals, search engines and auto-classifiers, it does not work without human interaction and high costs. Therefore, we propose a procedure model for Terminology Management to build up and maintain glossaries and taxonomies. To discover the evidence of our approach three action research cases have been analysed. The first focuses on the introduction of a glossary for a Swiss insurance company whereas the second case illustrates the initial activities and results for setting up a corporate taxonomy at an international professional services firm. Based on the learnings we developed a prototype (third case) which combines glossary and taxonomy for document classification and retrieval. We conclude that only a well suited trade-off between centralized and decentralized Terminology Management activities will be sustainable.