Knowledge management prevents staff from constantly reinventing the wheel, provides a baseline for progress measurement, reduces the burden on expert attrition, makes visual thinking tangible, and manages effectively large volumes of information to help employees serve their clients better and faster.
Being a fundamental business enabler, knowledge management will help organisations:
Nowadays, with corporate mergers, employee turnover and global expansion, people must work differently: they need to collaborate with peers that are overseas, exchange ideas, keep current on global matters and have quick answers to their questions.
The power of Social Media plays an important role in knowledge management as it enables employees to collaborate, connect and rapidly access to experts and information.
Social networks also allow people to collaborate, to be human and to express themselves in the electronic environment. They have a solid foundation of trust and popularity among employees and they are part of the knowledge sharing culture.
Knowledge management helps solve most of the common business problems and helps companies increase their benefits by:
According to a Global Deloitte survey, over 80% of Deloitte Knowledge users indicate that sharing knowledge leads to competitive advantage and adds a real client value.