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Wednesday, September 28, 2005

Hopes for KM technologies

Realizing the vast potential of the knowledge they hold but often can't harness, firms are placing knowledge management and business intelligence solutions at the top of their list of technologies for achieving their strategic goals over the next three years, according to a new survey by the EIU, sponsored by Tata Consultancy Services (TCS).

When asked what were the main benefits that their companies hoped to obtain over the next three years through the more efficient generation and flow of knowledge (selecting up to three options), those surveyed responded:

- Improved customer relationships/loyalty: 65%.
- Better visibility of internal business processes and performance: 46%.
- Faster, sounder management decision-making: 44%.
- More effective product/service development: 41%.
- Smoother collaboration across teams and departments: 31%.
- Greater customization of products and services: 23%.
- Improved compliance: 16%.
- Improved corporate governance: 10%.
- Better corporate security: 7%.
- Improved employee loyalty and retention: 6%.
- Other: 1%.

Source: Adapted from “Execs recognize growing importance of KM” in the current issue of KM Review.

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