How do you decide if investing in a knowledge management system is right for your company? And how do you choose what level of investment to make and which one will be the right fit?

When considering a knowledge management (KM) system, it’s important to understand that it’s not enough to have “knowledge.” To successfully use KM as your company’s intellectual asset, you have to be able to engender open access to that knowledge as well as understand and make allowances for updates, additions, and changes to the gathered knowledge base.

Let’s take the example of a software publishing firm with many different knowledge bases, staff and publishing initiatives. Even within that firm, there exists untapped knowledge that could be gathered together and used en masse as a resource base for your employees and partners. These resources could include unique style guides, tricks to managing content quicker, or indexing, blueprints, common resources in regard to design, layout, printing, etc. Conceivably, these resources can benefit everyone in a different way within your organization. So how does one manage the resources so that they’re available to each person when necessary?

The first thing is to determine if you truly need to “buy in” to a knowledge management system, like AskSam, by identifying what needs your company has in regard to accessing the knowledge. AskSam is just one of many knowledge management systems out there. Knowledge systems can run anywhere from $500 to $50,000 depending on your company’s need. For instance, a knowledge system for a 10-person legal firm would vary greatly from one for a 535-employee city hospital. Does your company need a collaborative tool, database tool, search tool, and/or IM tools to address your knowledge management base?

The second issue you need to address, as with any companywide purchase, is how your company is going to benefit by integrating your knowledge base within an actual knowledge management software application. For some companies, the very first answer is that it will benefit no matter what by having a place to maintain and keep the “knowledge.” You start with a small house of knowledge and as your company becomes more adept at identifying and culling knowledge sources you might end up with a skyscraper of knowledge filled with many different rooms from which to choose from. Knowledge management builds upon itself. If your knowledge becomes too unwieldy and you suddenly find yourself overwhelmed by trying to track your knowledge base and keep it organized then your business is a good candidate for a knowledge management system.

The key is to find a system that your company will actually use. Oftentimes, companies purchase the latest and greatest innovation and then after a few months, it may fall by the wayside unless it has been fully vested by all of the company. It must be inherently understood and directed that your company is going to use the latest resource and put all the others aside. You’ll have to deal with some employees or dept. heads who feel that their knowledge is so powerful they can’t possibly share it with “everyone.” The third step to knowing if a KM system can be implemented in your company is to see if its idea leaders are willing to fully share their knowledge.

Find your knowledge focus, analyze it in its best possible form, and look at your current structures of maintaining that knowledge. It does not matter how strong your knowledge base is if it’s unavailable as a resource to the people within your company who need to rely on it. If your idea leaders are willing to share, and you can organize the knowledge in its best possible form through using a knowledge management system, then by all means do so. The benefits garnered long-term will far outweigh the initial cost.