What Are Knowledge Management Tools And How To Choose The Right Ones?

"If you have knowledge, let others light their candles in it."

These words were said by Margaret Fuller Ossoli, an American journalist in the 1800s. Well, they stand true even today! However, when it comes to businesses, it may not always be true. Businesses may want to manage knowledge that is sensitive, proprietary or even confidential without letting others light their candles. Even more challenging is to develop the ability to manage and share knowledge within the business. It has become more important than ever as businesses adopt a “data-driven” approach, where knowledge drives decisions.

We can’t write long-winding manuals every time to make employees learn things. Thankfully, we can choose to adopt Knowledge Management Software. From enterprises to startups, businesses are opting for Knowledge Management Software to leverage the information they hold effectively and productively.

However, every business has a different set of requirements and choosing the right tool to meet your business requirements can be a challenging task. Don’t fret – in this article, we will discuss Knowledge Management Tools, their types and guide you in choosing the right tool for your organization. Read on!
 

What Are Knowledge Management Tools?

Knowledge Management Tool are digital solutions that helps organizations manage, organize, share and discover knowledge across teams in a workplace. This not only brings the teams together but also makes it easier for everyone involved to share what they know and make all that information available in one place.

According to the research by Straits, the global enterprise knowledge management software market size was valued at $16,635 million in 2022. It is even estimated to reach $47,254 million by 2030, growing at a CAGR of 12.3% during the forecast period 2023 to 2031.

These numbers should be enough to show you the importance of using Knowledge Management Software in any organization. However, as the requirements differ between organizations, so do the types of tools.

So, let’s understand the types of Knowledge Management Tools better.
 

Types Of Knowledge Management Tools

As they say, "Any job worth doing is worth doing right." Yet, to do the job right, you need the right knowledge and to have the right knowledge you need an ideal Knowledge Management Software, right? Master Shifu agrees!


So, let’s check out the types of Knowledge Management Tools so you can choose one that makes sense:
 

• Help Center

  This type of tool is the go-to for answers, whether you're an employee or a customer. It's got the inside scoop on everything – from the business’ knowledge base to live chat history, making it a one-stop shop to answer all questions during a customer-help center conversation.

• AI Chatbots

  Have you ever interacted with a chatbot? Well, AI chatbots do more than just answer questions, and can use stored knowledge to give you personalized recommendations, predict future outcomes (well, sort of) and supercharge web searches.

• Customer Relationship Management (CRM)

  With CRM-based knowledge tools, you can understand exactly how customers feel about your brand, what they like on your website, etc. By leveraging a wide range of informational insights. Talk about being a superhero in sales, marketing and customer service!

• Learning Management System (LMS)

  LMS makes training new employees a breeze, with online modules and job-specific materials in a central location. It's a perfect way to make sure everyone is on the same page about the company’s rules, policies, guidelines, etc.

• Content Repository

  Think of an organized closet in the digital world, where all your company's data, documents and digital assets can hang out. This type creates a neat and secure place for every enterprise content you need, whenever you need it!

Now that you know the types of Knowledge Software, there are a few things you should consider while choosing a Knowledge Software for your organization. Scroll on as we make that easy for you!
 

How To Choose A Knowledge Management Tool For Your Organization?

To make a few things simple for you, while looking for a Knowledge Management Tool, make sure it offers these features. We believe they are a must-have to fully leverage the power of these tools. Ready to explore what these top features are?
 

• Simple User Interface

  Your Knowledge Management Tool should be easy to use – duh! The goal is to have everyone instantly find what they need without any tech wizardry required. So, a sleek and intuitive design will meet your needs.

• Easy Integration

  Think about having all your information, insights and reports in one big happy family! It's not just convenient; it's a time-saver, eliminating juggling between platforms as seamless integration allows smooth sailing for your team.

• Quick Scaling

  A knowledge tool must always be ready to grow with you. Even if you start small, you will need to expand your knowledge repository soon, so don’t consider today’s plan but tomorrow’s as well – that's why you need flexibility and scalability.

• Availability

  Your Knowledge Management Tool should be right where you and your team are, whether it's on the browser, cloud or your trusty on-premises computer – anywhere and everywhere.

• Accurate Search

  To ensure you don’t get lost searching for a needle in a haystack, a good knowledge-based tool should have a top-notch search engine akin to a treasure map, guiding you straight to the valuable information you need!

• Automation

  Wouldn’t it be cooler if your tool could also take on mundane tasks, such as notifying the team of changes, handling data transfers or even sending out emails? Make sure your tool has a touch of magic (that is, automation) to make work easier for you!

In a nutshell, you would need a Knowledge Base Software that simplifies, integrates and automates the knowledge management operations and helps share insights and knowledge across the organization.

Now, let’s bring this knowledgeable ride to a close!
 

Conclusion

Choosing the right Knowledge Management Tool can make a difference for your organization. By putting your resources into a robust Knowledge Management Tool with all the necessary features, you can guarantee that your organization's vital information is organized, easily reachable and can reach the farthest corners of your organization – no matter what changes come your way.

So, whether you're aiming to be a Kung Fu master or just conquer your workload, Knowledge Management Software is your ticket to turning chaos into order. Get ready to be enlightened, just like Po – but maybe without the kung-fu moves!