Using these consistently streamlines work, improves quality, and ensures compatibility across the organization. By giving employees  greater insight into clients’ products and previous inquiries, customer satisfaction went “through the roof” – which is a significant benefit from having a knowledge management system. The result of knowledge sharing and knowledge management, as you can see from the benefits discussed above, is a more effective, better-educated workforce. Making it easy to find relevant information and resources. Sudden surges in remote employees and increased customer inquiry volume and types can result in your agents feeling overwhelmed and customers feeling frustrated. Creating and executing a KM program plan involves implementing people, process, and technology knowledge flows that achieve objectives. It’s important to provide the tools for employees to feel engaged, do their job well, and feel confident and motivated in their work. Danielle Agass is the Content Marketing Manager at Easygenerator and has been writing ever since she could pick up a pencil. SNS bank found a significant increase to customer satisfaction after only three weeks of implementing Verint Knowledge Management. Or let us help you get started. By continuing to browse the site you are agreeing to our use of cookies. At this point, everything seems great – there’s this organizational capability called knowledge management that offers a multitude of benefits – “So, where can we buy it?”. When faced with a need to respond to a customer, solve a problem, analyze trends, assess markets, benchmark against peers, understand competition, create new offerings, plan strategy, and to think critically, you typically look for information and resources to support these activities. 1. Knowledge management can help your agents find and share the information needed to answer both customer inquiries and questions they may have themselves. There are several benefits of knowledge management (KM) if it is pursued and maintained effectively. We all know we have benefited from knowledge passed down to us from our more experienced colleagues. If it is easy and fast to find what you need when you need it, you can perform all of these tasks efficiently. Learn more, See BMW’s digital transformation in action. Ways of doing so include community discussion forums, training events, “ask the expert” systems, recorded presentations, white papers, podcasts, and blogs.

Consistent use of them streamlines work, improves quality, and ensures compatibility across the organization. Its benefits are easy to quantify and articulate, yet many organizations still struggle to get knowledge management right.
Your contact center will make better use of your resources if agents are skilled to handle a wide variety of calls. George Santayana said, "Those who ignore history are doomed to repeat it." In reality, knowledge sharing has been taking place in the business world for as long as people have been working together. User voting, quality scores and feedback are all visible. When agents can efficiently and thoroughly answer caller questions, average handle times can be reduced. When there is a process for creating, storing, communicating, and using standard processes and procedures, employees will be able to leverage them routinely. BMW implemented Knowledge Management to store and recall information in the same way the human brain thinks. When there are experts who have skills that are in short supply, they are usually in great demand. A Brit by birth, she moved to the Netherlands in 2018 with her husband and their cat, Ron. Unlike conventional methods for educating employees (like classroom training or one-on-one mentoring), knowledge sharing enables organizations to reach far greater numbers of employees all at once. Equiniti implemented Knowledge Management to develop a more consumer-centric service. It gives genuine purpose to their work.”. Almost everyone today is an information worker, either completely or partially. In this post I’ll list 15 typical benefits of knowledge management; you may be able to develop others even more relevant to your organization — hopefully these will jumpstart the process. Turn your information-overloaded PowerPoint…. Once you have developed an effective process, you want to ensure that others use the process each time a similar requirement arises. Such a knowledge base gives employees direct access to the content they need. Empowering your agents with fast answers and a 360-degree view of the customer can help you solve customer issues faster. Knowledge sharing, reuse and innovation can significantly reduce time to deliver a proposal, product, or service to a customer. This allows employees to learn how things are done, leads to predictable and high-quality results, and enables large organizations to be consistent in how work is performed. Your customers also benefit from knowledge management which allows them to find answers themselves. That is an asset that will benefit any organization in the business world today. That is an asset that will benefit any …

For more ways to help your agents reduce costs while improving CX, check out our page dedicated to helping you save money. In many ways, this separation of knowledge management from the day-to-day IT operations – even if just perceived as such – has been part of the issue for IT organizations struggling with knowledge-sharing success (and there’s more on this in later articles). When a knowledge management system empowers employees to answer customer questions efficiently and thoroughly, a huge benefit is an increase in customer satisfaction. Yet many organizations struggle when it comes to managing what is arguably their most valuable asset: the combined knowledge of their employees.

They don’t have to interrupt their workflows or ask a manager or colleague for help anymore. But do you really know what it is? And prior to this, knowledge management was subsumed within the more-limited number of IT service delivery and support processes of ITIL v2. Save my name, email, and website in this browser for the next time I comment.

Even if an agent has never taken a call of this type, he or she will be able to resolve the issue with confidence. Yet, in many cases, company leaders overlook the importance of knowledge management. Reducing the risk and impact of employee (and their knowledge) loss 15. Knowledge management enables companies to capture, organize and leverage that knowledge to the greatest possible benefit. A central knowledge base that is accessible across channels eliminates silos of information that can lead to different answers given to the same question. The benefits of having a single source of truth with knowledge management and efficiently delivering answers to questions are numerous. Speed of execution is another important differentiator among competitors. But putting the barriers to knowledge-sharing success to one side for now, there are so many ways in which IT service desks can, and will need to, benefit from knowledge management. It is very practical and, when provided in an easy-to-access, on-demand format, gives employees a chance to apply what they’ve learned immediately. Teams benefit from the individual skills and knowledge of each member. You’ve probably heard the term knowledge management. If we don't learn from our mistakes, we will experience them over and over again. Knowledge management is a systematic approach to capturing and making use of a business' collective expertise to create value. If you achieve this and many of the other 14 benefits enabled by knowledge management, you should be able to achieve growth. If you learn that your last bid or estimate was underestimated by 50%, you can make the next one more accurate and thus earn a healthy profit instead of incurring a large loss. Each time a new employee is onboarded, weeks of time are spent training the new individual on the vast array of information required to help customers. These can be viewed through a number of different – yet overlapping – lenses, for instance: 1. Since there is no employee involved in these transactions to provide answers, an easy to navigate knowledge base is essential to give customers a place to search for answers on their computer or mobile device. It provides precisely the foundation you are looking for. From an ITSM perspective, it was added as “a separate process that supports other ITSM processes” in ITIL v3 (published in June 2007). This site uses cookies. As any business leader knows, managing your organization’s assets effectively is one of the key conditions for success. KOSOVO - XK Conversely, failure to do so could leave you vulnerable to competitors who can demonstrate their knowledge management capabilities and benefits. By capturing knowledge in a knowledge management system, you ensure that future employees will have access to the same information, even if an employee leaves the company or department. Creating new knowledge through effective knowledge sharing, collaboration, and information delivery can stimulate innovation.