Why do KM? What are its benefits?

What is the benefit from KM?

Good internal KM helps knowledge workers perform their job better; good external KM enables customers or stakeholders to perform desirable actions. The primary beneficiaries of KM are the organization and its members, and eventually, the customers or stakeholders served by the organization.

How will KM improve work performance?

One of the purposes of a KM assessment is to identify knowledge assets most needed by a division, office or work team that are short in availability and quality. Sourcing and promptly supplying the right knowledge assets would improve performance.

How does KM translate into savings/expenses for the organization?

Improving work performance translates to savings. As an illustration, a responsive intranet can reduce the time wasted by the average knowledge worker in hunting for needed information. If the time saved is equivalent to one month, the financial impact is equivalent to one month payroll plus the extra productivity gained from one additional month of productive work.