Knowledge is power—the many knowledge management system benefits

Equipping support teams with the knowledge to assist customers is essential. But support is just one function that benefits from proper knowledge management. The truth is that everyone in a company can reap knowledge management system benefits.

Learn more about the many benefits of a knowledge management system, and how gathering, organizing, and using tacit knowledge empowers teams across a business.

Knowledge management system benefits

Knowledge management is a term that describes how information is gathered and shared across an organization.

Poor knowledge management is linked to low customer satisfaction ratings, lower agent productivity, siloed organizational knowledge, and inefficiency, because no one knows who to talk to about what. On the other hand, good knowledge management improves the customer experience, it improves the support agent experience, and it breaks down internal silos of information.

Let’s go into the knowledge management system benefits in more detail.

Knowledge management is a win for customers

Good knowledge management is the foundation of good self-service, and we know customers largely prefer to self-serve on simple queries. Yet, the 2020 Zendesk Customer Experience Trends Report finds that companies are still missing opportunities to connect with customers via self-service. High-performing companies in the Zendesk Benchmark were 76% more likely to offer self-service, but the CX Trends report indicates that only a third of companies offer some form of self-service, whether through a help center, knowledge base, or FAQ.

Knowledge management is a win for support agents

When agents struggle to find knowledge, it impacts their experience in a bad way. This is why improving the flow of contextual knowledge can improve organizational efficiency.

Support agents are some of the best people to talk to when gathering knowledge. Firstly, they provide an important point of view from the front lines of customer service. Secondly, contributing to knowledge enhances their skills and opens them up to new opportunities. According to the CX Trends Report:

• High-performing companies are more likely to let both agents and customers access self-service.

• High-performing companies are nearly three times more likely to have enabled features that allow agents to capture their knowledge and add to, or update, help articles.

• High-performing teams are more than twice as likely to have a help center or knowledge base available across multiple channels.

Data shows that improved agent experience improves agent retention. A defined customer service career track means good things for agents, as well as for companies scaling their customer service operation.

Good knowledge management is a win for the business

Good knowledge management breaks down internal silos of information. These silos can reduce productivity. When people in an organization can’t share information, it can impact everyone’s ability to do their best work. Think about every time you contacted someone at work searching for information or context around an issue, only to go down a rabbit hole of leads and piecemeal knowledge. A lot of people in a company probably know a little bit about what you need, but without a knowledge management system in place, those pieces don’t come together as a whole. A knowledge management system that surfaces knowledge throughout the organization can fill those gaps.

Furthermore, having a process around knowledge-gathering and knowledge sharing also helps prevent tacit knowledge from falling through the cracks when people leave the company or move to other departments.

Tracking knowledge management metrics

The knowledge management benefits become crystal-clear once a process is rolled out and knowledge management metrics, which include self-service metrics, are being tracked.

Identify knowledge management KPIs that best capture the business’ goals with knowledge management. Measure and track changes in customer satisfaction, such as CSAT score and other metrics that might improve with easy access to tacit knowledge.

Establishing a knowledge management process and tracking its success puts these knowledge management system benefits well within reach.