Is the way you store and use your company information impacting your effectiveness? Could changing the way you manage your bid library increase your productivity?
A 2018 survey by KMWorld found that the main aim of 61% of firms implementing a knowledge management solution was to boost employee productivity.
Think about the way you and your colleagues currently store the information you use in bids. How much time do you spend looking for the content you need? And how much time fielding queries from other team members who are looking for the content they need?
Studies have shown that knowledge workers spend between 20 and 30% of their time each week searching for information, but only find what they need 56% of the time.
That’s around 2 hours each working day spent looking for content that you might not even find.
And if content can’t be found, it might as well not exist. Contributors will start to create new content instead of concentrating their efforts on refreshing the existing information. Studies show that employees spend up to 20% recreating existing content, because 40% of employees are poor at transferring knowledge. Then you end up with multiple versions of the same thing, and that way lies chaos!
That’s why Knowledge Central has a keyword search function that makes it really simple to find what you’re looking for, and why editing or deleting of content is restricted to administrators only.
Say you are generally able to find what you’re looking for; the other big problem you’ll face is keeping all your information up to date. If you let content become outdated, users of your knowledge base will lose confidence not only in the document they were looking for, but in everything else stored in there as well.
Features like Knowledge Central’s colour coded expiry dates can help with this, showing you at a glance whether content is current, or might need to be reviewed and updated.
Implementing a better knowledge management solution benefits your organisation when it comes to productivity and efficiency.
Having visibility of who’s using a piece of content and how often is vital – that tells you whether it was worth the staff time it took to create, and if it’s worth spending more time on keeping it up to date. Knowledge Central’s reporting function gives you that detail, so you know where your team’s time is best spent.
Being able to quickly find the information you’re looking for, and have confidence in using it, improves the collaboration and efficiency of the whole team.
Industry research points to an increased return on investment (ROI) of at least 38% when there is improved access to information – surely a great argument for a well-organised, well-maintained knowledge base!
If you’d like help spring-cleaning your bid content library, contact our Knowledge and Content Manager Kate on firstname.lastname@example.org, or (0113) 225 6098.