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What Is Knowledge Management System?
(Types, Features, Examples & Benefits)

Businesses are becoming hyper-competitive these days. All that is mandatory to succeed is to be followed by default. A knowledge management system for your website is a must-have inclusion to achieve greater success in the customer support system.

Developing a search console of your own for your website would prove as an expensive affair, rather Knowledge Management system software options are more effective and economical too. You can get these services starting from as low as $15 per month with various options as per your need.

According to Ernst & Young consulting agency research, by integrating knowledge management software, business owners save up to 30% on customer experience and support. The new product and knowledge creation cycles become shorter by 20% on average.

We hope you are already aware of the fact that poor knowledge sharing leads to problems within the company and outside as well. But what are the benefits of having a km system to share knowledge? How to take advantage of and improve the customer experience? Is it important to make use of information technology for the people who purchase goods or services from you? Let us take a look at the major types of strong customer support knowledge management system in place for your organization.

What are the Three Major Types of Knowledge Management Systems?

01. Enterprise knowledge management systems

This kind of knowledge management resource promotes lessons learned from past user experience and is put together to show viewers a birds-eye view of what has happened and what it means for the business. Businesses can evaluate past department performance, the completion of past contracts, the creation of past products or services, or any other kind of past experience to look at, what was done and to learn from it. In fact, some refer to aspects of enterprise knowledge management systems as organizational learning.

02. Knowledge-base work system

This refers to a system created in your organization of collecting all data from your experiences, putting it into your knowledge base, data collection is categorized properly to help all departments to understand standards and systems within your organization. This is referred to as a knowledge-based work system.

03. Knowledge intelligent techniques

Intelligent techniques have endless potential in knowledge management systems and tools. Use of artificial intelligence to capture, discover and measure knowledge content and the use of expert systems to generate solutions for dynamic and complex decision-making problems.

Features of Knowledge Management System Software

 

01. Customer care

With the knowledge management system in your company, customers can refer to an FAQ section or help section and solve their queries through tacit knowledge transfer. This reduces the number of unsolved queries, resulting in fewer emails in your inbox, and more positive reviews on your page. People these days like to solve their queries on their own and don't really need explicit knowledge workers in between. Your knowledge management software will help achieve customer satisfaction as never before.

02. Company expenses

Companies need a knowledge management strategy in almost all sections like production, sales, billing, accounts, and management. As your support database increases, clarity of product, sales, marketing and areas of management gets refined, your content management system becomes more in-depth. This leads to no more question marks or reworks!

03. Customer support costs

Customers receive information from web-based knowledge management software or FAQs section without any role of staff involvement. This results in handsome savings on the part of expertise employees needed to operate.

04. Decision-making

Data of past experiences help a lot in making planning for the best out of a KMS, it helps in understanding the steps taken in the past to solve a particular problem. Decisions are being made objectively and not subjectively with knowledge management systems, one can conclude answer quickly with a pre-defined solution without extra efforts, as clearly mentioned context in your software for smooth functionality.

05. Intellectual property

When you collect data from the past and organize it properly for sharing knowledge within the organization or with customers, it will be rather useful. As this is considered an asset of your organization, with the knowledge management solution, your company’s intellectual property becomes permanent and ever-evolving, you don't need to be dependent on the out-going employee.

06. Employee training

Any new incoming employees can easily get training and understand discipline as per their department with the help of knowledge management systems software. All the references that are clearly mentioned in your knowledge manager will help a lot. It takes minimal time for you to train new employees, as they can refer to your company’s Bible whenever needed.

07. Instant search

With knowledge management tools, your customers have the freedom to search for their query in their own pattern or habit termed as a Smart Search. The customers, as well as your support team, have the option to start the search from any word they want, a search result exact or around the query will be fetched to choose from.

08. Access from any device

If you launch a web-based knowledge management system and tools, your employee support team or your customers get to access it from any device or location. By doing this, it becomes possible for you to seamlessly connect all your offices or warehouses. Moreover, global mobile usage and access to the internet is growing rapidly. Hence, your application and website should be tablet and mobile-friendly and responsive.

09. Search result

Customers trust the information they find in a knowledge management system software since they are predefined by you as per the guidelines. The customers get a unified search result for specific queries and hence, no customer gets misguided or feels cheated. The tasks of a customer will become easy and a combination of advantages to both company and customer will be achieved.

10. Cost-effective

Knowledge management systems provide customer support solutions at a very minimal cost as compared to heavyweight ticketing systems. As a business owner, you have the option of selecting plans as to the size and the needs of your organization. There is always the flexibility to increase the bandwidth of your knowledge management system software as and when required in most of the plans (user base) to keep your running expenses lesser.

11. Business expansion

After setting up a knowledge management system in your company, your management will get more time to focus on the business expansion plans. Their energy is not wasted on customer support or retention as knowledge management systems take care of the same 24 x 7 autonomously. An agent will also gain more business as he is aware of all knowledge base software tool practice as a value matter goal to the firm.

What are the Examples of Knowledge Management Systems?

Examples of the knowledge management system and tools for sharing tacit knowledge using best practices include:

01. Feedback form:

  • Customer: wherein the data is collected from customer feedback using best practices and then it is added to the knowledge management system so that other customers easily get answers to their queries.
  • Employee: wherein the data is collected from employees about the products or processes followed in the organization, which further helps other employees and management in understanding, organizing and addressing their jobs.
  • Management: wherein the data is collected from managerial staff and office staff to understand and address all possible queries on rights and responsibilities.

02. Shared project files

Your team of employees gets to work collaboratively on a single project with the help of new knowledge management systems in the organization. They will have a system of information and tacit knowledge sharing that allows everyone in the team to upload and comment on work performed by other people. This also helps you understand the overall progress of the project and the projected timeline for different interlinked processes.

03. Research files

While developing a new product, research your competitors and conduct focus groups to find out what is needed in your product or market niche. This information is entered into an effective knowledge management system database that contains objective information on product development, projected sales, potential and indicates what assets and processes the company has in place, which can be used to meet this sales potential, improve customer experience, fill gaps within the market using knowledge management systems.

Benefits of Knowledge Management System

  • When you include answers to common questions in the support system, your team can focus on hunting down explicit knowledge systems to the possible new questions they may have not included before
  • Track the impact and usage of your knowledge base. It’s not enough to create articles and hope they help your customers and employees. Use the built-in reporting dashboard to measure the impact of your pages and improve your knowledge base.
  • Track usage data of customers and their feedback on your knowledge base articles, so you can improve your help documentation from time to time. Sharing, protecting and developing key knowledge assets will help achieve a good knowledge bank.
  • In addition to this, track search analytics to learn what customers are looking for and identify gaps in your knowledge base. Then, use those insights to create missing content and improve your knowledge base into a more comprehensive customer service resource — for customers and your team members.

The Knowledge Management System is Classified into Three Sections

01. Frequently asked questions (FAQ)

The FAQ is a section where a list of frequently asked questions (FAQs) are addressed with answers on that particular topic. FAQ is also known as Questions and Answers [Q&A] or Frequently Answered Questions. The tools used are similar to content management systems.

The purpose of an FAQ is generally to provide information on frequently asked questions or concerns; however, the format is a useful means in organizing information and text consisting of questions and their answers.

02. A user forum

This is the main place where users come to seek help, make announcements, share resources, get relevant knowledge and discuss issues relevant to the product or services. Whether looking to troubleshoot an issue, share some good news, connect with other users, or ask questions, the User Forum is the best place to get interactive feedback from other users and developers.

03. Instructional videos

Whether you need to demonstrate a technical process, an online class or teach your friend how to use, Instructional video is a great way to get the job done perfectly.

Micro videos are short instructional videos that focus on teaching a single, niche topic. They’re usually less than a minute long and appeal to today’s media consumers, who have short attention spans.

A Tutorial video is the go-to instructional method for teaching a process or walking through the steps needed to complete a task. These videos leverage multiple instructional methods, such as direct instruction, follow-along type guidance, quizzing or interactive elements. Sometimes referred to as how to make your own.

Training videos are designed to improve employees’ work skills. Training videos leverage multiple instructional, such as direct instructions, follow-along type guidance, quizzing, and interactive elements.

Lecture and presentation videos: A recording of a lecture or presentation is made available for the audience to consume or review after the event is over and is then stored as a reference tutorial for people to watch later as a knowledge base.

Forms of Knowledge Management System

When considering effective knowledge management, one must assess a variety of other factors and needs to find the most beneficial form for knowledge.

Knowledge management can exist in many forms, including:

01. Process-driven applications

A software application that is designed by underlying processes or according to the workflow. where the process can be captured and reused. The logic of any application can be gathered into a flowchart to represent the logical process of execution.

Automated data integration

This is a solution that eliminates the need for time-consuming activity of data entry. It also secures information from error-prone manual processes. It enables your business to get more efficiency in combining, managing, and obtaining insight from your data, in your knowledge base assets.

  • Data capture
  • Reduces handling of physical paper
  • Speeds the capture of electronic documents
  • Eliminates manual data entry
  • Maintains Accuracy
  • Easy retrieval of information

02. Workflow solutions

A workflow solution is designed to optimize your business processes. It does this by standardizing everyday predictable workplace activities as ‘workflows’. Workflow solutions are used to both streamline business processes as well as automate them in your knowledge base.

03. Purpose-built databases

Enable your businesses to create scalable, high-performing, and functional backend infrastructures to power your application. Addressing each use case with the most appropriate component. With this approach, one can build a similar architecture with your own resources for your knowledge management system software

04. Content lifecycle management systems

This tackles the development of your content. It's a coordination of how a project will be processed. After overseeing initial phases of content ideas, your knowledge management system developer will help design your content lifecycle

05. Automated document and classification solutions

By using a variety of machine learning algorithms with automated document classification tools, one can easily classify and separate your documents to support a variety of business needs including customer service, compliance, discovery and data management for your knowledge management system software.

06. Document, content and imagine solutions

Your knowledge management system software divides your data into two divisions, knowledge sharing from content and knowledge sharing from images, understanding few steps is easy when they are illustrated in image form. Both types are documented systematically.

07. Secure file sharing

Secure file sharing is the process of sharing files securely and privately. It enables sharing files between different users in your organizations confidentially and/or within a protected mode. Secure file sharing is also known as protected file sharing.

08. Optical character recognition

Optical character recognition or optical character reader is the electronic or mechanical conversion of images to text, it also converts handwritten or printed text into machine-encoded text, whether from a scanned document, a photo of a document, a scene-photo or from subtitle text superimposed on an image it can recognize text and converts it to a document

09. Social analytics and engagement solutions

Social media analytics are people who gather and analyze data from social networks such as Facebook, Instagram, and Twitter. These services are commonly used by marketers to track online conversations about products or companies and improve their product/services on that data collected. They also monitor customer engagement on their website, collect data and improve content to reduce bounce rate.

10. Integration of enterprise search

The term "Enterprise search" is used to describe the software of search information within an enterprise. Enterprise search systems index data and documents from a variety of sources such as file systems, intranets, document management systems, e-mail, and databases. Integration of this type of search in your organization is done easily through knowledge management system Software

11. Business intelligence

Business intelligence includes the strategies and technologies that enterprises use for analyzing data. You get historical, current, and predictive views of various business operations by using business intelligence for your knowledge and content management software. Business intelligence technologies comprise reporting, online analytical processing, data mining, process mining, business performance management, benchmarking, text mining, predictive analytics, and prescriptive analytics.

Business intelligence is built to help one easily handle large amounts of data for identifying, developing, and creating new business opportunities strategically. This helps to easily interpret big data. By identifying new opportunities and implementing effective strategies, your business will get an upper hand in this competitive market.

Enterprises use business intelligence for supporting a wide range of business decisions ranging from operational to strategic. Basic decisions include product positioning or pricing. Strategic ones involve priorities, goals, and directions at the broadest level. However, BI is most effective when it combines data derived from the market in which a company operates (external data) with data from company sources internal to the business such as financial and operations data (internal data). When combined, external and internal data can provide a complete picture which, in effect, creates an "intelligence" that cannot be derived from any singular set of data.

The Top Takeaways For Your Knowledge Management System in 2020:

01. Search engine

One of the most important features for any knowledge management system is to have a search engine. In knowledge management tools, one must have a separate engine similar to web browsers like Google or Bing.

We have noticed that with time, the knowledge base of your company becomes bigger and bigger as you update it with new information. Hence, a smart search is a must to browse easily.

02. Simple

Enterprise knowledge management systems need to be simple in every possible way, except for the amount of valuable information they hold. It should be easy to implement, set up and access. A knowledgebase is usually located on a business website and it needs to be implemented or updated quickly. This helps in reducing the website’s downtime to a minimum and ensure regular operations.

03. Flexibility and accessibility

Your knowledge base should not have limitations. Anyone who wants to access it should be able to do so. The biggest problem businesses faced in the past was that their knowledge management systems were optimized only for certain web browsers or limited only to the web layout.

Many businesses put up messages asking people to switch to a certain browser in order to use their knowledge base, but most visitors will not bother to visit and would rather look for information on some other website.

You must ensure that you are optimizing your knowledge management platform for all operating systems, including mobile phone users, desktop computer users, tablet users and people with weaker configuration devices. If you rule out some of your customers for any reason, you are simply displaying that you don’t care for all your customers.

04. Customer comment option

Despite having a lot of articles and other forms of write-ups that are helpful to your visitors, you also need to give them tools to share their feedback and discuss important topics. Knowledge management technologies that offer these things to visitors have the ability to add them to their list of loyal clientele.

A good information hub that is well-written offers relevant data to the visitors and actually helps them find solutions to their problems. It also has the ability to create a whole community around it. If you add a comment section to this, you’ll let your visitor voice their opinion.

Consumers will be keen to share their experiences, talk about their problems, and be thankful for the help. Additionally, they also might add some things you previously haven’t mentioned and offer new insights that can be discussed in the new articles.

05. Q&A section

The comments section is where your readers are able to discuss common issues. Similarly, your knowledge base should also encompass a Q&A section where you can give them direct answers to their questions. Keep this section for you, and your readers can engage in direct communication.

Besides that, you can share answers to questions that were previously asked and offer important information to the most common questions that people might have about your knowledge itself, and the information in it. For example, including instructions on how to use your information hub.

FAQs

01. What is the role of knowledge management systems?

Answer: The main role of a KMS is to enable organizations in managing their information and knowledge in an efficient and effective manner. It is useful for acquiring, storing, distributing and searching for information whenever needed.

02. What are the three major types of knowledge management systems?

Answer: There are various types of KMS, out of which three of the major types are as follows:

  • Enterprise knowledge management systems
  • Knowledge-base work system
  • Knowledge intelligent techniques

03. What is a knowledge repository?

Answer: An online database that works to capture, organize and update information that is knowledge-based in a systematic manner. It is an integral part of a knowledge management system and it works on the bases of semantic rules. Repositories help us address complex data and place it in such a way that it becomes easy to understand.

04. What are the four components of knowledge management?

Answer: Knowledge management constitutes 4 major components namely people, process, content, and strategy. Without these elements, it would be rather difficult to keep the whole thing running.

05. What are some examples of knowledge management?

Answer: Some good examples that have their own knowledge management for internal or external users are Amazon, Canva, and Slack amongst others. You can read up about more examples in our blog on examples of KM.

Conclusion

While structuring growth for your company, you should approach knowledge management companies who provide you solutions for all your knowledge management needs.

Knowledge management technologies are the most needed inclusion for your company. Followed by marketing knowledge management tools can make a remarkable impact on your company's growth.

Your agents will also earn more by using the application of knowledge management as their knowledge management practices will keep them ready with all possible queries a customer may have.

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