Posted On: November 6, 2019

What is a Knowledge Management Software (KMS)? | Knowmax

Knowledge base management software for enterprises of all sizes to provide better customer service at digital as well as assisted channels

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A knowledge management software is majorly used to simplify the operational tasks performed by businesses internally as well as externally. Having a knowledge management platform in enterprises can make easy collaboration between the several departments along with emphasizing the needs of support professionals to configure information. Moreover, it is a great asset for distributing bulky information over a wider range of channels.

This information may be in the form of frequently asked questions (FAQs)articlesdevice support guides, or decision trees, organized in a way that allows for internal as well as external accessibility; also giving way to Digital Adoption .

What is knowledge management?

Knowledge management is the art of creating, curating, and circulating all forms of organizational knowledge among its users in a way that makes entire knowledge both secure and verified at the same time. Such knowledge should be easily accessible and fulfill its need as the user wants it to.
There is more to ponder over the knowledge management system software. Take a quick look at what it offers and how it functions:

Significance of Knowledge Management Software

As its name describes, knowledge sharing software is all about creating, recognizing, gathering, and disseminating bulky information but in an organized way. It enables step-by-step and detailed documentation of heavy files which otherwise take a long time to build and share across the entire organization. The knowledge management software denotes organizing data that is available in scattered documents and make it easily accessible for agents and customers to implement apt resolution delivery.
The target here is why the knowledge management platform should be there if we can keep on creating extra solutions, more files.
Well, if too much data can be handled at once and even recreated, reused in need; what’s the point to stick in messy files and heavy docs? Best Knowledge management system acts as a big unified library of keeping the documents that are neatly arranged and you know exactly in which section you can find the relevant information and with the bonus of checking older recorded files.
Through knowledge management system software, the support professionals can briskly find the answers even out of plentiful information. This improves the consistency of resolution delivery and revenue generation for enterprises.

Top 4 features of knowledge management software

What makes knowledge management system unique and how its features support in terms of compiling, using, and installing really makes a difference. Observe the user-friendly characteristics that can support your organizational performance and activities in every way possible include:
1. Authority access
Feature such as authorization control is useful for admins and management that they can assign tasks as per requirement. It allows executing, creating content with the access subjective to departments, their roles, designations and so on. With this, support professionals get the ease of use in servicing when they know who is assigned to what type of work.
2. Feedback analytics
When we have resulted in front of us, we can do better than expected. And same is with the information we depend on for customer support; feedback such as which type of content among FAQs, Articles is performing well for customers. Through feedback analytics, certain alterations can be made to the content for further performance.
3. Multimedia and text editing
Content making and its distribution depend on how we present it, so alignment and editing of content are vital to do so. A feature like a rich text editor which is a built-in part of knowledge base software can help in smooth-running content.
4. Omnichannel compatibility
A seamless experience is what every industry strives for and software that is in charge of keeping bulk of knowledge should possibly be the part of it as well. Knowledge management system with omnichannel capabilities ensures the distribution of content across touchpoints preferred by customers.

5 benefits of Knowledge Management Software

Knowledge base software makes everything possible which is needed by the customers in terms of convenience. Knowledge management tools cater to help-desk initiatives that effectively deliver managed information to the customers who need it, and for the agents who deliver it. Moreover, it does more than what we consider such as:
1. Increase FCR quality
Knowledge management platform means agents are more likely to find information within a fraction of seconds that will encourage them to deliver resolutions in the first contact more often.
2. Enable detailed assistance for agents
Knowledge base software ensures the task of creating and disseminating content in easy to understand formats. The precise content based on lengthy topics related to customer queries can be achieved by good support of knowledge sharing software.
3. Make information findability easier
No need to dive into the ocean of information when a KMS can safeguard you. Knowledge management software collects content on a unified space making it easy for support agents to find, assemble, and spread it across channels.
4. Departmental collaboration
When an organization has a knowledge sharing software at their disposal, they don’t have to worry about how to coordinate the departments. Knowledge management software breaks the silos and makes sure that every department works smoothly.
5. Save OPEX and time
When information is easy to access, it reduces the need for acquiring more assets which may result in operational expenses. Support teams through a knowledge management system can save time with documented and shared processes that can be recreated from time to time.

Why should businesses adopt Knowledge Management software?

1. To keep a ready repository in knowledge base software of all company-related information, ensuring that information is safe and accessible to stakeholders, with set permissions.
2. To facilitate informed decision-making capabilities in organizations as well as to optimize the user experience.
3. To improve an organization’s operational and business process efficiency.
4. To maintain and enhance customer experience by enabling CX associates to deliver optimum support to callers/enquirers.
5. To train and retrieve knowledge for chatbots, using Natural Language Processing, Machine Learning, AIand strategic keywords, and phrases.
6. To promote Self-care.
According to McKinsey, companies focused on providing a superior experience across customer journeys realized a 10-15% increase in revenue and a 20% increase in customer satisfaction.

Knowledge Management Software for Customer Experience

If a business wants to remain competitive as per its industry, it has to improve the customer experience by providing remarkable support. Customers want their problems solved and questions answered effectively and as quickly as possible.
And undoubtedly, knowledge management is the best trick to achieve favorable outcomes in every experience that the support team delivers. Enhanced customer experience attracts potential customers, investors, and dealers that initiate positive consequences for the company.
With contextual knowledge sharing software available to the customer or service provider, time-to-resolution gets reduced by 20% – 80%.

Knowledge Management System for Customer Service

Knowledge Management Software (KM software) in customer service centers allows for easy findability of information to cater to customer related queries, thereby reducing Average Handle Time (AHT) and boosting First Call Resolution (FCR).

Choose the best knowledge management

When opting for knowledge base software, some points should be considered critically such as if it can work with third-party systems? If it can collaborate with CRM? Integrated helpdesk systems provide consistency and ease of use for customers as well as agents.
Take a deep look at what type of tools your team wants and how well they can address customer issues without any complexities. That will help you in making a firm decision about choosing the correct knowledge base software.
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