In addition, when a document management system is enhanced with passwords and backup procedures, document security is enhanced, but not thoroughly protected from outside access. They make retrieving documents easy, support regulatory compliance, and enhance workflow. Document management: These systems act as centralized digital filing cabinets for company documents.
Here are some great examples of knowledge management systems: Want to see examples of knowledge management programs in organizations? See how Guru's customers make KM work. So, if your definition of “knowledge management” has been limited to formalized assets, chances are your current solution doesn’t account for the knowledge that sits below the surface. Knowledge management platforms (or knowledge bases) are designed with best-in-class features to capture the information you need, verify and organize it, and make it easy to retrieve and share.
Knowledge management system examplesĭisseminating information throughout your organization is much easier when you have a reliable knowledge management platform to serve a full range of needs - both at a departmental level and a holistic, company-wide level. Learn more about the different types of knowledge management. When looking at it from this perspective, knowledge management's meaning includes the process that helps you acquire, organize, and transfer both explicit knowledge (knowledge that is easy to write down and share), implicit knowledge (applied knowledge), and tacit knowledge (knowledge gained from personal experience) throughout your organization. Storing, growing, and sharing that knowledge is critical to any enterprise. Knowledge is one of your organization’s most valuable assets. Plus, you may also run the risk of losing those processes or information if a knowledge leader or legacy employee leaves your company. That’s an inefficient and costly practice. Without a knowledge management system in place, your employees will be forced to learn and relearn processes and information. Findings culled from the International Data Corp also corroborates the value of a knowledge management system, highlighting that Fortune 500 companies lose roughly $31.5 billion a year by failing to share knowledge.Īs your enterprise grows, so too will the need to access a reliable knowledge database in order to effectively run your business, serve your clients, and increase revenue. The ability to access the right knowledge at the right time, via a robust knowledge management system, informs accurate decision-making and stimulates collaboration and innovation.Ī McKinsey Global Institute Report indicates that a robust knowledge management system can reduce information search time by as much as 35 percent and raise organization-wide productivity by 20 to 25 percent.
When an organization is able to easily access, share, and update business knowledge, it can become more productive and cost-efficient. The knowledge management (KM) category represents solutions that streamline the process of capturing, distributing, and effectively using knowledge.