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18 & 19 MARCH 2020


A Dedicated Knowledge Management Tool Versus a Free CRM Component

Is There an Advantage of Having a Dedicated Knowledge Management Solution Compared to a Component Within a CRM Tool?

Finding and implementing a dedicated knowledge management solution takes an investment in time and effort. It may be tempting to avoid that investment by adding free components in a larger software package; however, this option cannot produce the same ROI that a comprehensive knowledge management solution can deliver to your bottom line. Let’s take a look at why.

A dedicated knowledge management solution is designed to improve organizational viability and success. It offers systematic, explicit, and organization priority-driven functions that:

1. Pinpoint which intellectual capital needs to be developed and maintained. This includes identifying which knowledge should be accessible along the various delivery points for greater responsiveness.

2. Deliver the required intellectual capital and monitor the updates.

3. Ensure that all knowledge assets are appropriately leveraged.

4. Govern all knowledge management processes through company-wide infrastructure, support, and leadership.

A knowledge management solution based on diverse components, on the other hand, will be prone to arbitrarily ascertain and pursue individual knowledge-related actions. These actions are frequently simply extensions of activities already occurring. This represents incremental progress rather than a comprehensive application of knowledge assets.

Companies that make the investment into a dedicated knowledge management solution benefit from several sub-activities that contribute to the overall success of their organization. With a dedicated system, they can productively focus on making knowledge a key driver of enterprise success. These areas include efforts to:

- Deliver shared understanding. A dedicated knowledge management solution shares an understanding of the company’s mission, its direction, and how each individual supports the business.

- Focus business practices to align with the company direction. Adoption of a dedicated knowledge management solution will help you identify the most productive knowledge management practices for your business.

- Cultivate a knowledge-supportive environment. A knowledge management solution promotes an environment in which collaboration is respected and objective.

- Accelerate learning. Your employees can practice a wide array of knowledge sharing activities to ensure that pertinent knowledge is captured, structured, and deployed appropriately.

In addition, a comprehensive knowledge management solution ensures that information flows rapidly in effective ways and to the right destinations, which allows your employees to leverage four key success factors:

1. Information and resources – employees have greater ability to quickly navigate knowledge, metadata, and other resources that enable them to deliver high-quality outcomes. The system supports their ability to think creatively and critically while providing superior service.

2. Opportunities – your employees will be better situated with opportunities to leverage their skills. Workflows will be better organized to optimize your employees’ capabilities to exploit opportunities for innovation.

3. Permission – Your employees will thrive in environments that value collaboration and sharing. They will functions at higher levels of productivity when provided with permission to improvise, innovate, and improve policies and practices.

4. Motivation – your staff will be better motivated to make better decisions when they understand how those actions add value to the company, its stakeholders, and themselves. This factor is important and difficult to deliver.

A dedicated knowledge management system offers far greater benefits to your company than a piecemeal component-based approach. It creates a synergistic environment that fosters innovation and better decision making throughout your organization. This produces the superior customer service you strive to deliver.