What’s the point of a Knowledge Management System?

For consultancies, knowledge is the core asset that drives client value and competitive advantage. But too often, this critical knowledge is scattered across the organization, trapped in silos or with consultants, and not effectively leveraged.

Here are five key benefits of using a Knowledge Management system to gather, retain and future-proof your knowledge:

1. Streamline knowledge capture
   With each engagement, consultants generate valuable intellectual capital - methodologies, deliverables, lessons learned, and more. Knowledge management provides processes and tools to easily capture this knowledge in the flow of work, without burdening consultants with extensive manual documentation.

2. Accelerate access to expertise
   When starting a new project, consultants often reinvent the wheel, unaware of relevant past work or experienced colleagues who can help. Effective knowledge management makes it easy to quickly find and reuse the firm's proven approaches, tools, and experts. This saves time, reduces rework, and enables consultants to build on the firm's collective knowledge.

3. Enhance business development
   Winning new business hinges on showcasing the firm's relevant experience and unique insights. Knowledge management helps surface the most compelling proof points and case studies to include in proposals. It also enables consultants to quickly locate and adapt past proposals, accelerating the bid process.

4. Enrich client deliverables
   Clients hire consultancies for their specialized expertise and innovative thinking. Knowledge management allows consultants to tap into the firm's wealth of industry research, benchmarks, and thought leadership. This enables teams to develop high-quality, distinctive deliverables that demonstrate the firm's unique value.

5. Accelerate onboarding and skill development
   Consulting firms thrive on developing and deploying talent. Knowledge management helps rapidly onboard new hires by providing easy access to the firm's methodologies, tools, and sample deliverables. It also supports continuous learning by connecting consultants with relevant past project examples.

KnowPro helps consultancy firms to capture, organise and transform their knowledge into ever-green assets that have firm-wide benefits. For more information on our platform, visit KnowPro or get in touch with a member of our team.