Knowledge Management

22nd November 2020 1 By indiafreenotes

Combining knowledge management with CRM is always a smart choice. A truly integrated system that leverages customer intelligence with organizational knowledge leads to sustainable competitive advantage.

Accomplish increased productivity. While responding to customer requests in CRM, your employees can have access to commonly asked answers and company information directly from your knowledge management system. This eliminates research time, conferencing with other employees and switching between applications while customers wait.

Reduce redundant tasks. In your CRM system, your cases can be updated with information learned during each resolution, and solutions to repetitive issues can be converted into articles in your company’s knowledge base.

Improve customer satisfaction. Customers visiting your company’s web site can find self-service capabilities through a search of your knowledge management system or through interacting with online FAQs that narrow down their problems to an appropriate response. Customers who can’t find resolutions or answers this way can be quickly routed to a live agent. New cases can be automatically generated by the system to alert your agents.

Increase effectiveness. With reports that provide a clear measurement of effectiveness, you will be able to keep complete track of how many calls, emails and questions have been resolved with solutions from the knowledge base and which issues are most active and repetitive. This form of real-time accountability gives you the power to respond to customer needs, build knowledge where it is appropriate, and track the effectiveness and productivity of customer facing employees.

Gearing towards next-generation Enterprise applications, the terms KM, CRM and e-business have become more-or-less interchangeable. Besides, with B2B and B2C interactions realizing greater sophistication levels, the boundaries between KM and CRM will become more blurred. Or, so to say, the case for Knowledge Management in CRM shall become stronger and more and more inevitable. Some of the reasons for KM in CRM are cited below :

  • Customers are now demanding & expecting bigger bargains, better products & faster service on a personalized scale. CRM approaches alone cannot take care of providing such high-level of personalization.
  • Combining customer knowledge with CRM enables organizations to target customers with high life time / strategic value; thus leading to future growth opportunities.
  • Customer intimacy and knowledge of industry-specific processes tailored to meet business needs are essential ingredients of organizational success.
  • Organizations must formulate a dynamic corporate buying and selling model such that customers receive optimum results based on the combination of suppliers, services & processes, most appropriate to their own business model & vertical industry.
  • To achieve this dynamism, organizations must have fast and easy access to information about its own business operations, its customers & their vertical processes & business models the forte of Knowledge Management
  • Managing this extended enterprise-knowledge in a customized manner by applying knowledge relevant to particular verticals, shall be the differentiating factor for on-line intermediaries the opportunity for E-business providers.