Your team spending a lot of time researching information or asking peers for assistance.Experiencing high hold times and low customer service satisfaction scores.Processing a large number of customer-support inquiries regularly.Your company being in a very technical industry.Receiving a high volume of internal inquiries for departments like legal, financial, and HR.Some signs that your company may benefit from an internal knowledge base include, but are not limited to: Others are sophisticated problem-solving systems that employ innovative advancements like artificial intelligence.ĭue to their flexibility, these platforms can be used to fulfil a number of tasks depending on the requirements of your business. Internal knowledge bases can vary in size and complexity. What Are Internal Knowledge Bases Used for? This article discusses human-readable internal knowledge bases and it will cover, among other things, common uses for these platforms. Just like humans, these automated users access machine-readable knowledge bases in order to retrieve instructions and other pieces of information. Machine-Readable Knowledge Bases: These knowledge bases are designed for programs and bots.
These are commonly used for internal and external-facing purposes and can employ AI and machine learning at different degrees. Human-Readable Internal Knowledge Bases: As the name indicates, these knowledge bases come in formats that can be read by humans.Internal databases are usually broken down into two categories, which are: This can include information on objectives, requirements, internal policies, formal procedures, new product or hardware updates, release dates, promotions, troubleshooting, company values, technical specifications, Standard Operating Procedures, onboarding guides, and many more. These resources can come in different formats, but they aim to help answer any question your team members may have. Having a database of resources that easily accessible may help reduce research time as much as 35%, which can improve several areas of your operation.Īn internal knowledge base is a centralized database of company resources that serves as the first point of call for most, if not all employee inquiries. This is where internal knowledge bases can really have a huge impact. Large corporations lose close to 10 billion US dollars every year because their workers are busy researching information or recreating resources that already exist but can’t be found.Įven though the loss may be smaller for startups and medium-sized companies, these ventures don’t have the same depth when it comes to financial assets. Not providing the right resources to your team can also be extremely unprofitable. Almost 60% of consumers are only willing to be placed on hold for 5 minutes or less before hanging up, which highlights the importance of making information easily available to your employees. Longer search durations often result in increased hold times. Besides the fact that they are not producing revenue during these hours, it may also impact other performance areas. The average employee can spend close to 9 hours every week simply tracking down information, which puts a significant financial burden on your company. Making internal information available and easy to access, say through a centralised library-like structure, can have a very positive effect on any organisation. The Power of Centralised Informationīefore delving into the world of internal-facing knowledge bases, it’s important to highlight the value of information. We’ll tell you what they are, why they are helpful, and give you tips on setting up a centralised information receptacle for your business.
This article will discuss everything you need to know about internal knowledge bases. That said, entrepreneurs are starting to leverage the power of these unified data repositories to improve their company’s production across the board. It’s worth noting that knowledge bases are not a new concept.
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The fact of the matter is that, for a multitude of reasons, finding internal information still takes a significant amount of time out of our professional lives.Īn internal knowledge base is a great way to make information more available to your workforce, which in turn brings an array of benefits that include less research time. Or hiring five employees, but having only four available whilst the other one is constantly looking for stuff. This number can be interpreted in different ways, but to put it in perspective it’s like having your employees show up only 4 out of the 5 days of the week. McKinsey’s research estimates that the average office employee invests about 20% of his or her work time into researching internal information.
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