How Can Knowledge as a Service Help Service Firms to Drive Revenue?

By CIOReview | Thursday, October 10, 2019

The incorporation of KaaS enables organizations to simplify the adoption of disruptive technologies and significantly drive revenue.

FREMONT, CA – The emergence of robust technologies has enabled solution providers to harness the power of knowledge and deliver it to technological organizations as a service. Knowledge as a Service (KaaS) is empowering technical and support companies to efficiently tackle the competition in the market and drive up their revenues.

KaaS provides firm footholds for organizations seeking to implement disruptive technology, helping them transform their processes and achieve success. It helps them achieve better results with fewer resources while maintaining cost-effectiveness, compliance, and steady growth. Equipped with robust KaaS, enterprises no longer have to fear disruptive changes. They can seamlessly meet the requirements of the support teams, end-users, and customers.

More and more support organizations are making strategic investments in knowledge management technology. According to Gartner, knowledge management is a business process that formalizes the management and utilization of the intellectual assets of the enterprise, and promotes a collaborative and integrative approach for the generation, consolidation, classification, access, and use of information, including the tacit knowledge of people.

The incorporation of knowledge management programs will enable support organizations to witness robust enhancements in their processes. It facilitates the improvement of first call resolution rates, elimination of preempt problems affecting users, delivery of the quick response, and surety of compliance. It can also reduce call volumes and minimize escalations, thus enhancing efficiency. Customers can also benefit from knowledge management, as it allows them to contribute to the knowledge database by providing feedback on projects and initiatives.

Knowledge management programs facilitate access to tangible knowledge, including how-to’s, best practices, lessons learned, proven workflow, case studies, procedural manuals, plans, and templates. A robust KaaS ensures dynamic, accurate, and personalized delivery of knowledge. It should continually update, thereby adhering to the content of the organization. The dynamic aspect of the knowledge program should reflect the brand and tone of the organization. Personalization enables the knowledge to be tailored to devices and applications leveraged by the users.

When implementing KaaS, organizations need to assess knowledge flow. The consolidation of explicit knowledge with tacit knowledge enables organizations to embrace a holistic approach in the adoption of knowledge management technology. Knowledge is crucial for technical service and support organizations and branches into every business initiative. A successful knowledge initiative involves the development of robust knowledge culture and its delivery throughout the organization.

The successful implementation of the initiatives requires not only current and relevant content but also a robust knowledge management platform. By delivering relevant content to the users, the organizations can enhance and improve the service levels, maximize the potential of agents, and streamline the processes to improve efficiency. Even though organizations implement various strategies to ensure the effectiveness of their knowledge base, they often fail in extracting the full potential of the initiatives, especially in the management of custom content and its accessibility to users and agents.

Check out: Top Knowledge Management Tech Companies

The development of effective content strategies is associated with high costs and robust tools. Organizations seeking to implement knowledge management programs should collaborate with knowledge management vendors with a portfolio of robust platforms with extensive expertise in KaaS. Organizations can evaluate the demand for knowledge from all channels of supports and create a knowledge maintenance process.

Specialized support and technology can be leveraged to facilitate the successful adoption of KaaS. It equips organizations with robust tools to develop and manage their knowledge. A capable knowledge management vendor can work as an extension of the knowledge management team in the organization. KaaS enables integration with automation technology, leveraging AI chatbots to deliver knowledge services to the clients seamlessly.