According to Gartner Research, Knowledge Management formalizes the management and use of an enterprise’s intellectual assets. It promotes a collaborative and integrative approach to the creation, capture, organization, access and use of information assets, including the tacit, uncaptured knowledge of people.
APQC defines Knowledge as information in action and Knowledge Management as a whole array of tools and approaches to get information and expertise flowing in your organization.
The broadness of the subject is evident in Gartner’s answer to the question why it doesn’t have a Magic Quadrant on Knowledge Management. Gartner says, and we quote, “Gartner does not publish one all-inclusive Magic Quadrant for knowledge management because there are insufficient common characteristics for there to be just one market.”
eGain on Knowledge Management
We agree that KM is all of those things. And more.
Knowledge is the knowhow that your contact center agents, field teams, and self-service systems need to handle or answer customer service inquiries.
Knowledge management is the process of creating, using, sharing, and managing the information in an organization. And it is also a set of practices to maximize the business value of an organization’s knowledge by gathering, maintaining, and delivering it at critical points in business processes.
Done well, knowledge management consistently delivers the single best answer (in the form of content or suggested action) to any posed question with a relevance service level agreement (SLA) (best practice is 85+%) and a revision SLA (best practice is 24 hours), in case of an escalation due to an unsatisfactory answer.
Benefits of knowledge management
eGain clients, leaders in their own industry, share the benefits they derived from eGain knowledge management.
Best practice offer
More about knowledge management
Knowledge management done right can transform your business. We’re not talking about a few basis points, we are not talking about a couple of points either. We are talking about reducing training time by 70%, we’re talking about changing FCR by 30%, we’re talking about increasing NPS by 20 points. These are incredible metrics with knowledge management done right.
Just like knowledge management transformed customer and agent experience for this global bank. View the customer success story.