The Benefits of Knowledge Management Systems

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April 9, 2022 Business

Knowledge management systems are just another way companies of any size are getting all employees on the same page.

In the days before companies used computers and technology to generate efficient workforces, long-term employees were considered the key to institutional knowledge. At any company, there was always someone who had been there longer than anyone that could help point new employees in the right direction, aid in training, and serve as the intellectual barometer against which others were measured.

These days, that employee may still exist, but they don’t have the added pressure of being the arbiter of getting everyone in the company to row the boat simultaneously.

Instead, knowledge management systems are helping companies create smarter and more efficient employees thanks to the model of a centralized hub of information.

What is a Knowledge Management System?

It helps if we define a knowledge management system for those who have never heard of it before. Surprisingly, you’ve probably used one before and never realized it.

A knowledge management system is the intersection of technology, processes, and employees where knowledge is centralized and organized with a focus on improving a company or a process.

If you’ve worked for any company in recent years that heavily relies on technology, then you’ve likely accessed a knowledge management system. For example, if your new company has provided a link to an enterprise website that takes you through the onboarding process, access your payroll information, and provides you with all of your crucial login information, then you’ve already utilized a KMS.

Other types of KMSs include places where employees can post information about problems they’ve solved and steps they took to solve them, document sharing pages for documents that are utilized often, and question and answer employee forums.

But perhaps the most well-known KMS is Wikipedia. For over 20 years, Wikipedia has been the center of knowledge when it comes to many topics the world over. With its easy-to-edit interface and wealth of knowledge, Wikipedia is the easiest example of an effective KMS.

Perks of Using a Knowledge Management System

Now that we know the meaning and the purpose of a knowledge management system, we can go more in-depth on why these systems are helping companies of all sizes.

A One-Stop-Shop

KMS’ provide employees with a centralized location for information that can help them achieve their daily goals. In IT support, for example, a great idea for a KMS would include steps on how to solve issues that are common such as setting and resetting passwords or getting users set up in a specific piece of software used daily. These systems can also keep support specialists informed of any system downtime issues or inform them of any changes to their daily tasks.

Marketplace of Ideas

Community and employee forums can also be considered knowledge management systems. A community forum provides employees a safe place to discuss issues within the workplace and how to improve them. Managers can use them to ask questions to employees and receive feedback instead of clogging inboxes. A study from the Journal of Computer-Mediated Communication found that professional groups can develop “sustainable online discussion forums.”

Document Storage

It’s safe to say paper usage has declined in workplaces around the world as companies place a greater emphasis on computer work. Still, sometimes you just need a document for something you’re working on. Many KMSs have morphed into the place to go when you need a necessary document to complete a task.

Boost Efficiency

The old saying when it comes to business is “time is money.” Time spent seeking information from other employees directly in face-to-face conversations or through e-mail can be a waste of time if you’re not asking the right questions or asking the right person. KMS’s can aid in efficiency by giving employees the exact information necessary and providing them with the steps to be successful.

However, a study from the International Journal of Knowledge Management suggests that methods to measure efficiency be implemented when a KMS is in place.

Maintain Institutional Knowledge

Earlier, we discussed the importance of institutional knowledge when it comes to companies. Imagine a single place where long-term employees can park all of their know-how and help the newer employees understand the company’s culture. This type of approach can allow these long-term employees to feel further valued and heard.

Encourage Innovation

The meeting used to be the place where employees got together to compare notes and come up with ideas. KMS’s give employees a place to save their thoughts and share them with the company at large. A recent study confirmed KMS’s improved work and helped employees come up with new methods to accomplish goals and communicate better. A happier, more innovative workforce is always a better workforce.

Enable Cross-Collaboration

Larger enterprises often have issues with siloed teams and employees who have walled themselves off from the company at large. Knowledge management systems can bring those employees back into the fold. These types of systems, according to the International Journal of Distributed Sensor Networks, can allow for greater use of intelligence across the enterprise instead of a singular team.

Teach and Continuous Education

Knowledge management systems can also be used to aid in training recent hires. With organizations spending over $1,000 per person and 42.1 hours a year to train employees, according to one study, creating an in-house system to control costs is paramount. On top of that, more senior-level employees may require continuing education as part of their jobs. A KMS can be the arrow in the quiver for many organizations seeking to make training and continuing education an integral part of the work environment.

Conclusion

Whatever the reason you choose to create a knowledge management system, know that it can be an effective way to keep your employees informed of anything. From training to document sharing to collaboration and beyond, a KMS could be the one thing that can take your organization from good to great.