Our daily lives are increasingly shifting towards digital solutions, from how we order our coffee in the morning to how we conduct our daily meetings. Therefore, it comes as no surprise that businesses are seeking to develop new ways to engage their customers, streamline their processes and overcome their challenges. 

It can be difficult to keep track of everyone and everything, prompting the emergence of a knowledge management system. This is a key component of handling businesses in the digital age, and we discuss further its benefits and whether a knowledge management system is the right solution for you.

What is a Knowledge Management System?

A knowledge management system is a digital solution designed to assist with overall business operations, organisations or teams. As the name implies, knowledge management systems are a database for information that can be used to improve processes, collaboration and understanding. This knowledge can easily be retrieved and amended when the need arises. This solution can also be used as a central base of knowledge for your clients or users. 

The term ‘knowledge management’ was derived from within the management consulting community during the rise of the internet. The internet itself houses a plethora of information that spans across the globe; so, what better way than to imitate this characteristic and adapt it to suit organisations? 

Through building tools and techniques such as databases and dashboards, a system was created that could be marketed to organisations, in particular those that were dispersed and complex in nature.

What are Some Examples of Knowledge Management Systems?

It is likely that everyone has encountered a knowledge management system at one point or another. Any system, tool or resource that promotes the sharing and exchange of information can be classified as a knowledge management tool. 

Forums, search engines and databases

Google is possibly the most well-known and common source of knowledge. Other tools, such as community or special-interest forums, online encyclopedias or other platforms where information can be given and obtained are examples of a knowledge management system.

Frequently asked questions

FAQ sections provide bite-sized, cohesive answers to commonly asked questions and serves as a tool for finding information quickly.

Video tutorials, articles and how-to guides

If you have ever found yourself watching cooking videos on Facebook or searching YouTube for assembly instructions for IKEA furniture, then you have accessed a knowledge management system. Articles, guides and tutorials are a great way for the user to learn a new skill or obtain information. Many websites and channels will feature more than one guide, allowing you to pick up multiple trades.

Training and education programs

Learning doesn’t stop once you leave school. For those seeking to upskill or simply try something new, there are a range of courses that can be found online, often for free. These courses can complement existing skills, provide you with a new hobby or teach you a new language. Incorporating training and education programs into your business offerings can diversify your clientele, showcase your expertise and provide an interactive platform for exchanging knowledge.

Webinars

We’ve all experienced the rise in virtual gatherings due to a pandemic, but why not consider hosting online events in the long term? Webinars are an excellent way for anyone around the world to access your business through training, keynote lectures or as an educational tool. This can be used to build trust, enhance the value of your brand and connect with a wider audience. Plus, a digital solution eliminates the need for a physical venue, travel costs or catering.

Creating a Culture of Collaboration with Liferay DXP

Is your company struggling from low levels of collaboration? This could include colleagues being disconnected from the larger workforce, duplicate content existing due to lack of awareness of what other teams are working on, or low productivity and engagement levels among employees. Overcome these challenges and unlock the potential of your workforce by facilitating collaboration with Liferay DXP.

Download the Whitepaper >

How can a knowledge management system help you?

Attributed to its versatility, a knowledge management system can be adapted for multinational enterprises, small businesses, organisations, or tailored to improve cohesion amongst teams.

For your business

Business can be complex. However, with an established knowledge management system, it doesn’t have to be. Reach out to your B2B networks with an integrated system, streamlining the exchange of information and business transactions while being confident that your database is secure, accurate and accessible. Incorporating a knowledge management system for your B2B experience can improve overall customer satisfaction, minimise maintenance, and ensure that your business is performing at its best.

Try: Databases, webinars.

For your staff

Not limited to just knowledge, the tool can be adapted to a learning management system. This allows improved processes across staff training, development and communication and can be applied as an ongoing resource for personal and professional development. Your human resources are an important asset, so their ongoing growth is crucial to the operation of your business.

Try: Training programs, courses, forums.

For your customers

In the age of all things digital, many customers find that their first point of contact with a business is through their digital experience. In order to provide information, build brand loyalty and drive sales, it is essential that the customer experience is seamless.

Digital transformation has changed the way customers are interacting with the business through websites, social media and smartphone applications. A unified system ensures that wherever your customer is accessing your brand, they are able to find what they need quickly and easily. 

Try: Articles, tutorials, FAQ.

Knowledge Management System FAQs

What is a knowledge management system?

A tool designed to streamline all aspects of business and provide a database of knowledge across various sectors.

What are some examples of knowledge management systems?

Search engines, community forums, how-to guides, video tutorials, online training and education courses, webinars.

Who does a knowledge management system benefit?

It can help businesses with their operations and B2B transactions, improve staff learning and exchange of information, and provide customers with a seamless interaction with your brand.

Are you ready for a knowledge management system?

To learn more about how Liferay can deliver a tailored and flexible solution to meet the challenges of your business, visit www.liferay.com or call us on (02) 9696 1226 to have a chat with our experienced team.

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