What are the Best Knowledge Management Practices Businesses Use?

Knowledge management is a system integrated by organizations using KM software which help employees access, share and modify business knowledge and information. Since knowledge is important to boost productivity and efficiency, it is critical for businesses to manage their knowledge process effectively. 

Most organizations make use of their knowledge management in different forms. In this post, we will discuss the best knowledge management practices applied by companies from diverse sectors for the smooth functioning of their business and employee support teams including IT, HR, and finance. 

1. Content Management System (CMS)
   One of the great ways to organize and use knowledge management is by implementing CMS. Content management systems like Bloomfire and SharePoint enable every individual and collaborative teams to access, update, and publish information on a firm intranet.


2. Chatbots 
   A chatbot is a smart knowledge management practice used by many companies in various sectors. Chatbots respond to employee queries and requests for information using AI and machine learning. 
   
   
   By using Chatbot, employees don’t have to dig around in chat history or document system for seeking information. They can pose any concern and chatbot will filter its knowledge base to provide the best information possible.


3. Cross-Training Programs
   Training programs including mentoring and shadowing allow employees to enhance business knowledge in a work environment. The new employees can shadow experienced staff by watching their work. Cross-training programs implemented in the companies using knowledge management software help ease the training process of new hires.


4. Social Networking Tools
   Workplace, Slack and other social networking tools help boost team collaborations, interactions and productive communications in a shared space. That’s not all! These tools store historical conversations which allow employees to search and retrieve archived information. This proved to be an excellent knowledge management practice.


5. Document Management Systems
   Companies are extensively using document management systems like Box and Google Drive to store business document and data on the Cloud. These systems allow the companies to control access permission and share the data in an efficient way. 

Generally, these tools are embedded with the systems which allow adding metadata and tagging files to make the information easily accessible for everyone. This is yet another knowledge management practice that companies are using for streamlining their business process.

If you are new to the business and haven’t started making smart use of Knowledge Management System, start including knowledge management software to your business for efficient business workflow.