Thursday, April 26, 2018

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Knowledge Management

How much knowledge walked out of your door today? We are approaching a perfect storm- a time when record number of people will be leaving the workforce. How do you capture the knowledge of your retiring or departing workforce so that the future is more secured? How can you rapidly harvest, assimilate, institutionalize and store this knowledge before people leave?

Our modeling tool combined with knowledge harvesting methods play a vital role in rapidly capturing, assimilating, and electronically storing business knowledge.

When new employees join the company, this is an extremely effective way to ensure workforce development and education. As a by product you will have a database of business knowledge to leverage for multiple initiatives.

Three compelling factors for using our methods is:

  1. Speed of knowledge harvesting and assimilation
  2. Formal, complete and structured representation of business knowledge in five dimensions (what, who, where, when and which)
  3. Electronic repository of the business knowledge in an open database, thereby effectively institutionalizing this knowledge.

Some other benefits of knowledge management system include:

  • Sharing of valuable organizational information throughout organizational hierarchy.
  • Can avoid re-inventing the wheel, reducing redundant work.
  • Retention of Intellectual Property after the employee leaves.
  • Capture knowledge in a systematic, consistent & comprehensive manner.
  • Improves end-user productivity/satisfaction.
  • Improves service quality
  • Reduces duplication of effort and reduces cost
  • Reduces new-hire training costs
  • Recycling existing knowledge that lives in various formats (procedures, flow diagrams, spreadsheets, etc.)
  • Utilize repository for multiple purposes like aging workforce, process improvement, procedures, training, automation and compliance

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