Top 10 Knowledge-Based Software Must-haves In 2023

According to the definition by TechTarget, knowledge based software can be defined as a machine-readable resource for the dissemination of information generally online or with the capacity to be put online. In this rapidly expanding marketplace, it is time for organizations to unleash the power of their data and switch to a potent knowledge-based system.

Marketwatch has estimated that the semantic knowledge base industry will be worth $33 billion by 2023, with over-year growth of 10% through the rest of the decade.

There might be much knowledge based softwares out, but making a wise choice prioritizing your agents armed well to deliver effective customer responses is crucial.

10 must-haves of knowledge based softwares in 2023

1. DIY content creation

A good knowledge base software does demand DIY (do it yourself) to be one of its vital features. The actionable modules of KM software, such as decision trees, picture guides, FAQs, or articles, are designed in a DIY format that allows organizations to create their content themselves within a hassle-free environment. Step-by-step creation of decision trees, visual guides, and FAQs grant organizations to foster self-service facilities for a delightful customer experience.

A fact claims that over 67% of customers prefer to use an organization’s knowledge base software to resolve their issues rather than calling an agent.

2. Elastic search for agents

Providing google support is an ideal solution for contact center agents to support customers with an efficient & quicker response. For that, an effective knowledge-based system must be adopted to assist agents in handling complex customer queries in no time & hence boosting overall CSAT score.

A centralized knowledge based software where data is stored as guides leverages agents to deliver relevant customer responses.

For every 1% improvement in first call resolution rate, contact centers will see a 1% improvement in customer satisfaction rates and a 1-5% improvement in employee satisfaction.

3. Omnichannel distribution

Omnichannel contact centers assist customers anytime & anywhere. This channel can be a smartphone, a website, a retail store, etc., where customers can look for any service they want. Main benefits that omnichannel supports are: higher customer satisfaction, seamless digital interactions across all touchpoints, also AI-backed chatbots to exceed customers’ expectations.

On average, companies with omnichannel customer engagement strategies retain 89% of customers, a customer retention rate of 33% for companies with weak omnichannel customer engagement.

4. API-based triggers for actions

API-based triggers form connectivity between CRM & knowledge based softwares to manage tickets when raised by customers. Agents can explore an accurate solution to the ticket through API, while triggers can notify customers after issues are solved.

5. Easy findability & searchability

A centralized repository of knowledge management systems amasses content at a defined place for easy findability & searchability. When integrated with CRM, tools such as decision trees, picture guides, FAQs, etc., allow support agents to find & flow accurate information across various channels. With easy searchability of content, knowledge-based software also helps save OPEX & time.

Companies focused on providing a superior experience across customer journeys realized a 10-15% increase in revenue and a 20% increase in customer satisfaction.

6. Content categorization & user management

The user management system helps an organization add its users, define their roles, assign their tasks, and select their designation. As the roles & rights of each user are limited, the categorization of content is also served accordingly, ensuring faster learning. Beyond this, the user management system also gives organizations the authority to validate their user’s performance thoroughly.

7. AI-backed intent-based knowledge delivery

AI-backed intent-based search helps deliver contextual data to assist customer support services across the required channel at the right time. Leveraging intent-based search into business allows them to reduce customer acquisition costs, boost click-through rates, and gain customer retention.

8. Customizable, Configurable & Whitelisting

Customization of features, such as changing the color scheme, logo, images, etc, according to the business requirements is an integral part of knowledge-based software. Beyond customization, knowledge-sharing software should support agents while handling complex device configuration & troubleshooting.

9. Content migration & management

A content management system (CMS) is used to create, manage & distribute content on a website. It grants easy searchability of information by tagging suitable keywords along. Robust knowledge management software helps arrange content in a streamlined manner, ensuring knowledge is easily accessible at all touchpoints.

10. Actionable & custom analytics

By keeping track of every resolution served to customers, actionable & custom analytics suits best for analyzing business processes and identifying areas of improvement.

Choose your knowledge-based system wisely

The ten must-haves of knowledge-based software leverage its users in many ways. Beyond assisting a customer with self-service facilities to supporting agents while handling complex queries, good knowledge software can do it all. Integrating a robust knowledge-based system can turn the company’s revenue to the next level. Let’s consider some live examples of integration:

• Zendesk, a leader in online support, allows its agents to deal with complex interactions while using a guided workflow when integrated with a knowledge base system.
• Freshdesk, another customer service software integrated with a knowledge-based system, permits its agents to easily resolve customer-raised tickets by pulling out data remotely.

Thus, knowledge-based software works remotely, enhancing customer experience and boosting agent productivity & organization revenue by targeting various industries such as telecom, banking, insurance, e-commerce, etc.