(TORONTO) Knowledge management can help organizational effectiveness and customer value, as well as employee satisfactions, according to a new poll.
A survey of more than 400 Canadian business leaders using knowledge management – a formal process of sharing critical company information with others in the organization – found that 89% believe that such practices improve employee satisfaction.
Eighty-eight percent think knowledge management boosts customer value, and 91% feel such practices have improved overall organizational effectiveness.
The survey, conducted by Ipsos-Reid for Microsoft Canada Co., revealed that the average return on investment for using knowledge management was 41%.
About one-third of those companies that don’t have such a system expect to have one in place within the next year.
“The positive impact of knowledge management processes in Canadian companies extends throughout all different departments, creating value in customer service, product development, human resources, sales and marketing,” says Chris Ferneyhough, vice president, technology research, Ipsos-Reid Canada.
“The primary goal of knowledge management is to deliver the intellectual capacity of a firm to the employees who make the day-to-day decisions that in turn determine the success or failure of a business,” says Anne McKeon, product manager, Microsoft Canada.
“Knowledge management should be a priority for Canadian business leaders because it shows there is competitive advantage and return on investment gains to be made when a knowledge management solution is implemented,” says McKeon.