New Executive Insight Report from TSIA and Consona Sheds Light on the Business Benefits of Knowledge Management

Share Article

Paper Addresses Need to Project the Value of Implementing KM; Offers Recommendations to Maximize the Impact for Customer Service and Support

Consona Corporation (Consona), a worldwide leader in providing customer relationship management (CRM) and enterprise resource planning (ERP) software and services for companies of all sizes, today announced the availability of, "Calculating Business Benefits of Knowledge Management: Metric Improvements and Cost Savings Using Real-World Data and Examples " This Executive Insight report was co-authored by John Ragsdale, vice president of Technology Research at TSIA, and Duane George, director of product management for the Knova knowledge management (KM) software solution from Consona.

Measuring the impact of knowledge management (KM) initiatives is critical in order to understand the benefits received by the technology and to verify you are leveraging the implementation to receive the maximum return on investment (ROI). Though increasing support technician productivity is one of KM’s biggest selling points, there are other important impacts as well, including changes to interaction volumes and cost, and even customer satisfaction. Understanding what potential savings are possible from improved KM processes and technology can also help guide the budget for additional KM expenditures.

According to Ragsdale, “Effective knowledge management continues to be a top inquiry topic from TSIA members. While it is obvious that having knowledge at the fingertips of employees accelerates problem resolution, companies struggle to determine if their knowledge management program is delivering sufficient results. Companies shopping for new knowledge tools question what the potential for improvement is to help guide project budgets.”

In this paper, Ragsdale and George attempt to answer these questions. Based on TSIA’s benchmark database of operational metrics, and over a decade’s worth of member STAR Award applications for Best Online Support and Best Knowledge Management practices, this report will pinpoint which metrics see positive impacts due to KM and why, as well as provide guidance on metric averages and what improvements are realistic to expect.

The paper was released in parallel with Consona’s new ROI tool at http://www.kmroi.com. This tool is based on the Consortium for Service Innovation’s KCSSM Benefits Calculator for industry standard best practices, and was built to help buyers project savings from a knowledge management implementation.

The Executive Insight report is available for download at http://crm.consona.com/crm/learnmore/tsia-roiresearch.

About TSIA
The Technology Services Industry Association (TSIA) is the leading association dedicated to advancing the business of technology services. Technology services organizations large and small look to TSIA for world-class benchmarking and research, exceptional peer networking and learning opportunities, and high-profile certification and awards programs. We keep their business leaders informed and connected through a full range of programs and services that tackle real-world service business challenges, providing real-world solutions. TSIA corporate members represent the world’s top technology companies as well as scores of innovative small and midsize businesses in four major markets: enterprise IT and telecom, consumer technologies, healthcare and healthcare IT, and industrial automation. TSIA brings the technology services industry together. Visit http://www.tsia.com for more information.

About Consona Corporation
Consona Corporation (Consona) is a worldwide leader in providing customer relationship management (CRM) and enterprise resource planning (ERP) software and services for companies of all sizes. Consona is dedicated to becoming a valued business partner by helping each and every customer continuously improve business processes over time. Toward this mission, Consona invests in the people, processes, technology and tools needed to provide its customers with a unique combination of customer care; product fit; a broad range of consulting, IT and business services; and industry expertise. Consona serves more than 4,500 customers worldwide and across a variety of industries. Battery Ventures VI LP and Thoma Bravo LLC jointly own Consona. For further information, visit http://www.consona.com, e-mail infoATconsona.com, or call (888) 8 CONSONA.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Mitch Briggs
Visit website