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WHAT IS A KNOWLEDGE MANAGEMENT SYSTEM?

An efficient Knowledge Management System helps your business in keeping track of documentation, managing frequently asked questions and organizing knowledge access across the team. It stores this information in easily accessible formats and distributes it to a broad variety of audiences. A KMS is not just essential for global enterprises but for small businesses and start-ups in building a one-stop centralized knowledge base for the whole team. This is KMS in a gist.

Here is a comprehensive guide to the definition and benefits of a Knowledge management system:

  • Knowledge Management Software

  • Why is a knowledge management system Important for businesses?

  • Essential Features of a Knowledge Management Software

  • Benefits of a KMS In Providing Seamless Customer Service

  • What to look for while choosing a knowledge management software

What is KMS

KNOWLEDGE MANAGEMENT SOFTWARE

It is important for businesses to help their employees avail information, updates, and knowledge to enhance their productivity as well as help them achieve their daily tasks easily. In this data-driven digital world, an efficient knowledge management system is of utmost importance as it helps in the process of gathering, storing, identifying, and sharing all necessary information that a business creates on a daily basis.

KM Software

A cloud knowledge management software like Kapture CRM helps businesses in finding and sharing relevant information quickly that will eventually contribute to employee productivity.

Your business might have a lot of valuable data, content, and other information stored somewhere in the repository. Long gone are days where employees have to go through long-form word documents and PDFs to receive the information they need. It affects their productivity and hampers the workflow. With a knowledge management system saving and sharing long-form content and information is just like taking something from an organized shelf or a catalog. It is meant to make companies more efficient and profitable.

Why is a Knowledge Management
System Important for Businesses?

The common question that pops up now is why use a knowledge management system for your business? The answer is simple. In this competitive world, what businesses need is to establish their brand identity by providing a good customer experience and ensure complete productivity. Staying well -organized and up-to-date is not an option but mandatory for business today and this is why KMS is important for businesses. Delivering the right information to the right people at the right time is how KMS helps businesses in enhancing their productivity.

KM Software

According to McKinsey Global Institute Report,

“A robust knowledge management system can reduce information search time by as much as 35% and raise organization-wide productivity by 20 to 25%.”

EASY ACCESS TO INFORMATION

Employees must have equal access to information and various data of a business. Be it a document that has got lost in the shacks of multiple folders or a long-form content that needs updating, with an efficient knowledge management system identifying and updating these content repositories is a seamless process. A KMS like Kapture organizes and segregates valuable information so that employees can access the required document instantly when necessary.

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Easy Access
Consistency

ACCURACY AND CONSISTENCY IN INFORMATION

To run a business effectively updating information and accuracy of the data stored is mandatory. With knowledge management software, out-of-date information can be easily notified and updated which will further help in improving the customer experience. Not only for the customers,but it is also important that employees receive accurate information that is useful and timely to provide seamless customer support. Categorizing articles based on their relevance, content, and necessity is yet another benefit of a KMS.

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PROMOTE PROJECT MANAGEMENT

Businesses can leverage the benefits of a KMS to collect and organize their project information. Information such as cost estimation, risk management, important calculations, etc., can be saved for future reference and is easily accessible for the whole team. In short, to enhance the productivity of your teamwork, a KMS is a must.

Project Management
Agent Efficiency

INCREASE AGENT EFFICIENCY

By using a knowledge management system businesses can easily make employees completely aware of use-case scenarios, promotional offers, new guidelines, and other product-related articles, all in a centralized location. Your service agents can deal with complex queries accurately as they have access to a hub of references and information about the company.

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Essential Features of Kapture's
Knowledge Management System

Certain features are necessary for intelligent knowledge management software to help your business in its growth. Not all KMS are built alike. CRM’s like Kapture provides businesses with an efficient KMS that has the potential to help businesses in enhancing their productivity and streamline their daily operations. Some of the important features include:

Essentials
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Easy To Use and Implement

No matter how efficient your KMS is, user-friendly applications have high demand in the market and are a necessary feature. KMS like Kapture is easy to use and has a fast go-live feature that makes it one of the best available today. With a dedicated implementation team using your KMS is just a matter of seconds.

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Customization

Outlook and designs have a lot more to do with fixing your brand identity than you think. Customizing your knowledge management system with the blend of your brand identity makes your company unique and makes it stand different from the crowd. Customization is yet another important feature of an efficient KMS. Personalized unique documents create a lasting impression on your customers which will further increase your loyal customer base.

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Report and Analytics

Managing an updated knowledge repository is not an easy cakewalk. In order to collect and store knowledge accurate reporting is a necessity. An efficient KMS should be capable of analyzing how many people visited the knowledge base weekly and monthly. A report of how well the articles are performing and whether customers can resolve their queries is also mandatory to identify the space for improvements.

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Cross-Platform Accessibility

In this digitally-driven world, an efficient KMS should be able to work on multiple platforms like phones, tablets, PCs, etc. Employees will not be just sitting on their desks every time. They will be in multiple locations or several other non-traditional arrangements. A KMS should be designed to be accessible from any device seamlessly.

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Benefits of a KMS in Providing
Seamless Customer Service

What customers want in today’s world is an easy and accurate solution for their queries. For a business to remain competitive in the market, they have to provide a delightful customer experience across platforms. Therefore not just for your employees, a KMS is also helpful in providing seamless customer service. KMS helps businesses in providing efficient customer service by:

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Providing First-Call Resolution

Relevant information is readily available in a centralized location and employees can access it whenever they want. This helps agents in providing first-call resolutions to customers without having to wait on calls or emails for a long time. By reducing Average Handle Time (AHT) businesses can boost their CSAT rates to heights.

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Enabling Self-Service

Today, the best form of customer service is helping customers help themselves. Most CRM’s like Kapture has a separate Self-Service portal that helps reduce wait times and lets customers find instant queries for basic questions. With frequently asked questions stored in a cloud KMS, businesses can easily provide valuable customer service and increase their brand loyalty. With an easy-to-use online help center, change the way you serve your customers for the better.

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Centralizing Accurate
and Valuable Content

With a KMS in hand, businesses can provide customers with detailed and accurate solutions for their queries in multiple formats. Manage content flow directly from the dashboards and ensure that relevant content reaches your customers to solve their accurate pain points. By sharing relevant content information you not only enhance customer experience but also create a potential customer base for your business.

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What to look for While Choosing
a Knowledge Management Software

Choosing KMS

Rather than choosing a KMS in the rush, it is always best to do it in the fullness of time. Along with the features mentioned above, there are few things that businesses should keep in mind while choosing a KMS that suits their business. Irrespective of the size of your business it is important to note that a KMS is essential for both SMBs and global enterprises. Here are a few tips to keep in mind while choosing a Knowledge Management System for your business.

  • Always keep in mind your business intelligence strategies and choose KMS that is flexible enough to fill all the gaps and requirements of your business.

  • Discuss with your team and be aware of the tools and features that your business needs. Decide the way you intend to provide a seamless customer experience and choose accordingly.

  • Decide on your budget and then research for the best available options that suit your budget and requirements

According to International Data Corp,

“Fortune 500 companies lose roughly $3.15 billion a year by failing to share accurate knowledge.”

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