Before we look at the benefits of knowledge management, let’s first ask the question: what is knowledge management? Well, knowledge management is a discipline that is fairly new – it’s only been around since the early 1990s. For that reason, it is still evolving and growing as a field.
But, a very simple explanation of knowledge management (sometimes abbreviated as KM) is that it revolves around the idea that knowledge contained within an institution – whether that is a corporation, a non-profit organization or an academic institution – is an important resource that is crucial to that organization’s success and should be treated as such. Furthermore, important knowledge contained within the organization can better help the organization achieve its goals if it is shared and used within the organization in a streamlined and logical manner.
Take this example: imagine a pharmaceutical company that is getting inconsistent results when making new drug applications to the U.S. Food and Drug Administration. The applications aren’t always getting approved, and sometimes aren’t getting approved in the way the company envisioned. (For example, maybe the company wants a drug to get approved to be taken in several different dosages, but it only gets approved for one type of dosage.) But clearly the company has the knowledge to make successful applications; in fact, many of their applications are very successful. The trick to increasing their success rate, and hence their profits, is to use knowledge management to improve and standardize their application process. In a nutshell: after implementing a knowledge management initiative, an FDA approval for one new drug, which the company expected to take three years, came within just nine months. In addition, many employees in the company expressed appreciation — and increased satisfaction in their jobs – because of the improved ability to share knowledge throughout the company.
That’s just one example of the benefits of knowledge management. So, what happens when a knowledge management initiative is undertaken? Within a company or organization, a knowledge management initiative might involve:
- Recruiting individuals from outside the company to provide their expertise, knowledge and insight, which can then be shared within the organization and used by the organization to improve or better focus its own processes.(In the pharmaceutical example, the company assembled a group of former federal regulators, who provided a crucial piece of information – the fact that regulators really are only trying to answer three basic questions during the approval process – that allowed the pharmaceutical company to streamline and focus its new drug applications process.)
- Creating a diagram that shows who in the organization has what knowledge, and when that knowledge might be beneficial to the goals of the company or group. If one person within an organization needs a piece of information to complete a task, yet has no idea who in the organization possesses that piece of information, that can be a recipe for stress and failure. However, if there is a diagram that shows who knows what within the organization, and members of the organization know the procedure for obtaining knowledge from others and sharing knowledge with others, then it is far easier to achieve success.
- Creating processes that allow for knowledge to be shared at the appropriate times and situations. If there is a process in place for sharing information, that process can become second nature to members of the organization and that can help to ingrain the process of knowledge sharing within the organization.
- Creating knowledge repositories for the organization. This serves a similar purpose to an FAQ on a Web site. If there are certain questions that come up over and over again, it is much more efficient to have the answers contained in an FAQ than to have a person who knows the answer re-write and re-explain that answer in a personal email each time someone asks the question. Organizations can create different types of knowledge repositories, depending on their needs.
- Facilitating knowledge transfer amongst members of the organization. Knowledge management recognizes that as more knowledge is shared within an organization, that knowledge is then transferred to new members, and that benefits the organization as a whole.
So, in summary, what are the benefits of knowledge management? Well, the answer depends on the specific challenges the organization is facing, along with its goals. But, in general, knowledge management can help an organization put its knowledge to good use more efficiently, often leading to decreased time spent and increased profits or better outcomes. It can also decrease frustration amongst members of the organization and increase their satisfaction levels, as well as improving the strength of the organization as a whole.
KNOWMAX
Knowledge Management Software, A System To Deliver Seamless Customer Experience Across Assisted & Digital Channels of Enterprises.
- Enable self-service with a smart Knowledge Base Software
- Tune your Knowledge Base to user needs
- A Knowledge Base that is truly yours
- A tool so simple, you can work it instantly
- ‘Searching’ on a Knowledge Base just got easier
- Manage content better with Knowledge Base System
DOCUMENT360
Easy to use self-service knowledge base software focused on SaaS Products & Software Projects. Addresses the gaps in other help desk knowledge base tools. BEST!!!
Documentation:
- Versions
- Difference Viewer
- Preview
- In-line Search
- Article commenting
- Article Lifecycle
- Article Settings
Category Manager:
- Create Category/Sub-Category
- Category Operations
- Reorder articles within categories
Editor:
- Markdown support
- Embed Images/Videos
- Code Block
- Callouts
- Hyperlinks
- Tables
- Full Screen
- Lists
- Auto Save
- Inline Preview
Branding:
- Custom CSS/JavaScript
- Header/Footer Navigation
- Corporate Logo/Favicon
- Colour Theme
- Integration
Security:
- Team Roles
- Backup and Restore
- Export and Import Documentation
- Private Documentation
- Custom Domain Mapping
- Article Redirection
EXOPLATFORM
eXo Platform, an Open Source Team Collaboration Software, provides medium and large enterprises with modern intranet, ESN, digital workplace and knowledge management solutions.
- Store documented knowledge with document management software
- Generate new company knowledge easily with enterprise wikis
- Capture silent knowledge with forums
- Facilitate knowledge sharing with activity streams
- Improve access to knowledge with unified search and permission management
ATLASSIAN
Millions of users globally rely on Atlassian products every day for improving software development, project management, collaboration, and code quality.
- Easy to use templates
- Powerful search filters
- Flexible page permissions
- Page labels for organization
- Task tracking
- Real-time notifications
- Page history
- Confluence for Mobile
HELPJUICE
Helpjuice’s easy-to-use and most powerful knowledge base software is designed from the ground up to help you scale your customer support, and, collaborate better with your team.
- Powerful & Easy Editing
- Insightful Analytics
- Best In Class Knowledge Base
LOGICALDOC
A document management system such as LogicalDOC can help your organization better manage business processes and put order in the chaos of documents every day run your business.
- Version and Revision Control
- Access Logs
- Document Approval Route
- Annotations and Comments
FRESHDESK
An online cloud-based customer service software providing helpdesk support with all smart automations to get things done faster. Sign up for a free trial today!
- Support more easily
- Reduce average resolution times
- Improve customer happiness
- Train new agents
- Improve your Search Engine Discoverability
AXIOSSYSTEMS
Automate IT services and operations. Make time for creative innovation. Transform your business. Our assyst solution gives you unified IT management in a single cloud app.
- Knowledge Taxonomy
- Rich Text Editor
- Flexible Processes
- Capture Discussions
- Pervasive Capture
- Reporting
FLOWLU
All-In-One Online Collaboration Tool For Teams – Cloud Based CRM, Project Management, Team Task Manager, Finance And Invoicing Software and more all in one place.
- Online CRM
- Online Project Management
- Team Online Task Management
- Online Collaboration Tools
- Online Finance Management
- Online Invoicing
- Agile Project Management
- Online Knowledge Base
- Online Mind Maps
SYSAID
SysAid is an IT service management solution that offers all the ITIL essentials. It’s everything you need for easy and efficient ITSM in a single tool.
- Capture, Develop, Share, and Effectively Use Knowledge to Work Faster
- 24/7 End-User Support Via the SysAid Self-Service Portal
- Quickly Create Knowledge Articles
- Attach Images and Other Media to Knowledge Articles
- Link Knowledge Articles to Entities within SysAid ITSM
- Auto-Suggestion for End-User Self-Help
UNIKA
Unika’s Knowledge Management Software enhances productivity and organizational efficiency by providing answers to hard questions, a view of who knows what at the company, and quick access to relevant information across multiple systems.
- Knowledge Management Hub
- Knowledge Stacks
- Knowledge Campaigns
- Profiles
- Industry-leading Search
- Security
NOVOSOLUTIONS
Simplify how you Track and Maintain Assets, Receive and Process Work Orders, Provide Support to your Customers and Report on Outcomes – with the highly flexible, easy to use ShareNet Cloud Platform.
- Easily edit and format content, add hyperlinks, upload images & videos
- Upload file attachments – Microsoft Office & PDF files are searchable
- Define unlimited security groups, user roles and End User Portals
- Auto create approval tasks and notifications
- Customize reports to see content by author, category and more
- Full Text Search on all content – most relevant content displays first
- Access your content from any mobile/tablet device
- Search & display content in other applications or web sites
ZOHO
Run your entire business with Zoho’s suite of online productivity tools and SaaS applications. Over 40 million users trust us worldwide.
- Repository of articles
- Forums and Communities
- Submit tickets
HELPRACE
Helprace is a cloud-based customer service software suite with a ticketing system and self-service help desk. Collect ideas, feedback, build a knowledge base or community. More than 10,000 businesses use our helpdesk to support their customers.
- Organize Your Articles
- Add Multiple Products
- Intelligent Search
- Effortless Content Creation
- Article Suggestions
- Tag Your Pages
- Follow Discussions
- Share with Others
- Usefulness Rating
- Comment on Articles
LANSWEEPER
IT Asset Management Software That Finds & Manages All Assets Across Your Enterprise. Track Hardware, Software and Users.
- Centralize knowledge base management
- Answer questions before they’re asked
- Grant & restrict access to content & documentation
AMEYO
Ameyo’s Call Center Software Solution is the market leader in Omnichannel Customer Experience and Contact Center solution in cloud and on-premises software.
- Centralized Information for Consistent Support
- Higher Resolution Rate and Better Productivity
- Let Customers Find Answers at their Convenience
- Curtail Support Tickets
KNOSYS
Create, organise, control and share company knowledge in one simple platform. Online and secure, easily access across devices.
- Smart Search
- Living Content
- Intelligent Processes
- Integrated Intranet
- Easy To Use
- Out Of The Box
- Application Analytics
- Organisation-Wide
- Single Source Of Truth
- Continuous Improvement
HUBSPOT
HubSpot offers a full platform of marketing, sales, customer service, and CRM software — plus the methodology, resources, and support — to help businesses grow better.
- Build a library of help articles so customers can help themselves
- Improve the efficiency of your support team
- Track the impact and usage of your knowledge base
GIVAINC
Giva was among the first to provide a suite of help desk and customer service/call center applications architected for the cloud. Now, with hundreds of customer driven releases, the Giva Service Management™ Suite delivers an intuitive, easy-to-use design that can be deployed in just days and requires only one hour of training.
- Natural language, Boolean, and keyword search engines
- Self-service Web portal for employees, partners, and customers to access centralized knowledge base with option to quickly open service request, if answer not found
- Standard, customizable knowledge workflow, including notifications
- Authoring and approval tools based on industry best practices
- Advanced tools for batch record import/update and on-going management
- Rich text formatting with the ability to attach screen shots and files to knowledge records
- FAQs and most frequently used solutions sections
- and More.
TETTRA
Tettra is a simple, integrated company wiki for high performance teams that helps you easily manage and share organizational knowledge.
- Better organization with a centralized home for resources
- Let everyone contribute to documentation and sharing
- Answer repetitive questions quickly in Slack
- Find out what you need to add or update
- Keep documents up-to-date automatically
- Stay on Top of Changes with Notifications in Slack
- Save Time with Templates
- Automate documentation with integrations
IGLOOSOFTWARE
Igloo enables organizations to solve business challenges & cultivate a strong corporate culture through our intranet software & solutions.
- Intranet & Internal Blogs
- Shared Online Calendar & Schedule Maker
- Intranet Collaborative File Sharing
- Intranet Forum Software
- Task Management Software
- Microblog & Newsfeed Software
- Internal Wiki Software for Business Use
- People Directory for Employees
- Spaces & Virtual Gathering Spots
- Digital Workplace Search Feature
Types of knowledge management Software
When discussing types of knowledge management (KM) software beyond a straightforward list, it’s helpful to understand the unique characteristics, functions, and purposes that each type serves in a broader context.
1. Document Management Systems (DMS)
Document Management Systems are designed to handle the creation, storage, and management of electronic documents. These systems ensure that documents are easily retrievable, secure, and correctly versioned. They often feature tools for organizing files, enforcing document retention policies, and facilitating access control.
2. Content Management Systems (CMS)
Content Management Systems are specialized in managing digital content across websites or internal platforms. They support content creation, editing, and publishing, providing a framework for managing workflows and ensuring consistency.
3. Knowledge Bases
Knowledge Bases are centralized repositories where organizations store and manage information, FAQs, and troubleshooting guides. They are often used for customer support to provide self-service options and reduce the burden on support teams.
4. Collaboration Tools
Collaboration Tools focus on improving teamwork and communication within organizations. These tools offer features for real-time messaging, file sharing, and joint document editing, enabling seamless collaboration regardless of team members’ locations.
5. Enterprise Social Networks (ESNs)
Enterprise Social Networks foster social interaction and knowledge sharing within organizations. They provide a platform for employees to create profiles, join groups, and engage in discussions, similar to social media but within a corporate context.
6. Learning Management Systems (LMS)
Learning Management Systems are designed to deliver and manage educational and training content. They support e-learning by providing tools for course creation, tracking learner progress, and conducting assessments.
7. Customer Relationship Management (CRM) Systems
CRM Systems manage interactions with customers, storing crucial customer data and tracking relationships. They help organizations understand customer needs, streamline sales processes, and provide better service.
8. Project Management Software
Project Management Software assists in planning, executing, and monitoring projects. It includes features for task management, resource allocation, and progress tracking, which help teams stay organized and meet project goals.
9. Enterprise Resource Planning (ERP) Systems
ERP Systems integrate various business processes and functions into a unified system. They manage data related to finance, human resources, supply chain, and more, providing a comprehensive view of organizational operations.
10. Business Intelligence (BI) Tools
Business Intelligence Tools analyze and visualize data to support decision-making. They help organizations transform raw data into actionable insights, offering features like reporting, dashboards, and data visualization.
11. Knowledge Sharing Platforms
Knowledge Sharing Platforms are designed to facilitate the exchange of knowledge and best practices among employees. They may include features like wikis, forums, and community spaces where users can contribute and access collective knowledge.
12. Idea Management Systems
Idea Management Systems capture and manage innovative ideas within an organization. They provide a structured approach for submitting, evaluating, and implementing ideas, encouraging creativity and continuous improvement.
Each type of KM software serves specific functions and can be integrated or used in combination to create a comprehensive knowledge management strategy tailored to an organization’s needs. Understanding the unique capabilities of each type helps organizations choose the right tools to effectively manage and leverage their knowledge assets.
Why are knowledge management Software important?
Knowledge management software is crucial because it addresses several fundamental challenges that organizations face in managing their intellectual assets and resources.
1. Centralized Knowledge Repository
Knowledge management software consolidates information and knowledge into a centralized repository. This centralized access helps ensure that valuable data and insights are not scattered across disparate systems or lost over time. By having a single source of truth, organizations can reduce redundancy, avoid duplication of efforts, and maintain consistency in information.
2. Enhanced Collaboration and Communication
Effective KM software facilitates seamless collaboration among team members, regardless of their location. Tools that support real-time communication, document sharing, and collaborative workspaces help teams work together more efficiently. This enhanced collaboration fosters innovation and problem-solving, as employees can more easily share insights, brainstorm ideas, and build on each other’s contributions.
3. Informed Decision-Making
Access to up-to-date and relevant information is critical for informed decision-making. KM software provides tools for data analysis, reporting, and visualization, which help managers and executives make decisions based on comprehensive and accurate information.
4. Knowledge Retention and Transfer
Organizations face the risk of losing valuable knowledge when employees leave or retire. KM software helps mitigate this risk by capturing and documenting knowledge in a structured format. This ensures that critical information is retained within the organization and can be easily transferred to new or existing employees, thus preserving institutional knowledge.
5. Increased Efficiency and Productivity
By streamlining the management and retrieval of information, KM software helps employees find the resources they need more quickly. This reduces the time spent searching for information and helps employees focus on their core tasks. The automation of routine processes and the availability of knowledge at their fingertips significantly boosts productivity and operational efficiency.
6. Improved Customer Service
Knowledge management software supports customer service teams by providing them with access to comprehensive knowledge bases, FAQs, and support documents. This enables support staff to quickly resolve customer issues, provide accurate information, and improve overall customer satisfaction. Additionally, self-service options in knowledge bases allow customers to find answers independently, enhancing their experience.
7. Encouragement of Innovation
KM software encourages the sharing and exploration of new ideas by providing platforms for idea submission, discussion, and development. This structured approach to managing innovative ideas helps organizations tap into the creativity of their employees and foster a culture of continuous improvement and innovation.
8. Compliance and Risk Management
For organizations operating in regulated industries, maintaining compliance with legal and regulatory requirements is crucial. KM software helps ensure that relevant policies, procedures, and documentation are readily available and up-to-date. This reduces the risk of non-compliance and helps organizations manage and mitigate potential risks more effectively.
9. Enhanced Learning and Development
KM software supports learning and development by providing access to training materials, e-learning modules, and development resources. Employees can engage in continuous learning, access knowledge from past projects, and benefit from shared expertise, leading to improved skills and career growth.
10. Better Organizational Alignment
By aligning knowledge management practices with organizational goals and strategies, KM software helps ensure that knowledge is used to support and drive business objectives. This alignment helps maintain focus on strategic priorities, facilitates coordination across departments, and supports overall organizational success.
Knowledge management software is vital for organizations because it centralizes and organizes information, enhances collaboration, supports informed decision-making, preserves institutional knowledge, improves efficiency, and fosters innovation.
Most Common Questions Regarding Knowledge Management Software
Q: What exactly is Knowledge Management Software?
A: Knowledge Management Software (KMS) is a tool designed to help organizations manage their information and knowledge. It centralizes, organizes, and facilitates the sharing of knowledge within a company. This means storing documents, best practices, and expertise in one place, making it easier for employees to access and utilize valuable information to make better decisions and collaborate more effectively.
Q: What are the main features you’d find in Knowledge Management Software?
A: KMS usually includes several key features. These often involve a centralized repository where all important documents and knowledge are stored. You’d also find powerful search and retrieval tools to help users quickly find the information they need. Collaboration tools like discussion forums and shared workspaces are common, as well as document management capabilities to handle everything from organization to version control. Many systems also offer knowledge capture tools to document new insights and analytics for monitoring how knowledge is used.
Q: Why should an organization consider using Knowledge Management Software?
A: There are several compelling reasons. First, it enhances efficiency by reducing the time employees spend searching for information. It also fosters better collaboration by providing tools that facilitate communication and information sharing. By keeping all knowledge in one place, the software helps with informed decision-making, preserves valuable expertise, and ultimately boosts productivity. Additionally, it helps retain knowledge within the organization, reducing the impact of turnover.
Q: What are some common challenges organizations face when implementing Knowledge Management Software?
A: Implementing KMS can come with challenges. User adoption is a big one getting employees to consistently use the system and integrate it into their daily routines can be difficult. Ensuring data quality is another challenge, as the system relies on accurate and up-to-date information to be effective. Integration with other existing systems can be complex and require careful planning. Security is also a concern, as protecting sensitive information is crucial. Lastly, managing the transition and change to a new system can be challenging and requires good change management practices.
Q: Can you give me an example of how Knowledge Management Software might be used in a real-world scenario?
A: Absolutely. Imagine a large tech company where employees from different departments need to access the latest best practices and technical documentation. Without a centralized system, finding this information can be time-consuming and inefficient. With KMS, all this knowledge is stored in one place. When a new employee joins or when an existing employee needs to access information about a new product, they can quickly search the system, find the relevant documents, and get up to speed without having to ask around or dig through emails and old files.
Q: How do organizations typically evaluate the success of their Knowledge Management Software?
A: Organizations evaluate KMS success in a few ways. They track usage metrics to see how often the system is accessed and how effectively it’s being used. User feedback is collected to understand how well the system meets the needs of its users. They also assess the ease with which users can find the information they need. Productivity gains and improvements in efficiency are measured to see if the system is having a positive impact. Lastly, knowledge retention is evaluated to ensure that valuable information is preserved and utilized.