![\"Knowledge](\"https:\/\/images.golinks.io\/blog\/wp-content\/uploads\/2023\/07\/19083206\/Power-of-Knowledge-Management-6-1024x495.png\")
<\/figure>\n\n\n\nWhile improving knowledge management often isn\u2019t top of mind for many managers, it should be. Poor management of internal knowledge can quickly lead to communication and collaboration breakdowns across the company, as well as hours of lost productivity for employees. When you add them up, the costs incurred by poor knowledge management quickly add up:<\/p>\n\n\n\n
- \n
- The average employee spends 59 minutes a day<\/a> looking for information within their company\u2019s many apps and tools.<\/li>\n\n\n\n
- Employees spend an average of six hours a week<\/a> (close to a full workday!) recreating work that already exists.<\/li>\n\n\n\n
- Large enterprises lose an estimated $70 million a year<\/a> to lost productivity resulting from poor knowledge management.<\/li>\n\n\n\n
- Struggling to access good information makes one in six employees<\/a> want to quit their jobs.<\/li>\n<\/ul>\n\n\n\n
Conversely, when a company makes it easy to access and share information across teams, employees\u2019 productivity, communication, and collaboration all increase \u2014 leading to saved time and budget.<\/p>\n\n\n\n
Types of business operations & how knowledge management helps<\/h2>\n\n\n\n
Generally, business operations are split into four categories:<\/p>\n\n\n\n
- \n
- Production: how goods or services are created<\/li>\n\n\n\n
- Financial: how budgets and resources are managed<\/li>\n\n\n\n
- Marketing: how products or services are marketed<\/li>\n\n\n\n
- Human resources: how employees are managed<\/li>\n<\/ul>\n\n\n\n
Knowledge management can help improve key business processes, both within<\/em> these categories and across<\/em> them, in three key ways.<\/p>\n\n\n\n
Increasing collaboration across teams<\/h3>\n\n\n\n
According to a 2022 study, nearly 80% of knowledge workers<\/a> report that their teams are siloed from their wider organizations. The majority also say these cross-functional communication breakdowns<\/a> negatively impact their work.<\/p>\n\n\n\n
Improving knowledge management can break down knowledge silos by making it easier for teams to share and access information across departments. <\/p>\n\n\n\n
For instance, a knowledge management tool<\/a> like GoLinks allows employees to share internal resources using intuitive, memorable short links. For example, the finance team could ask employees to submit invoices at \u201cgo\/invoices,\u201d a go link that redirects to a specific form within ADP. This is helpful because:<\/p>\n\n\n\n
- \n
- If the finance team switches from ADP to Gusto in the future, they don\u2019t have to ask employees to update their bookmarks \u2014 they can simply change the URL that the go link \u201cgo\/invoices\u201d redirects to.<\/li>\n\n\n\n
- Since go links use intuitive language, employees don\u2019t need to save dozens or hundreds of bookmarks \u2014 they can often just remember that \u201cgo\/invoices\u201d will take them to the right form. And if they do need extra help, they can easily search for the right go link within GoLinks\u2019 dashboard or Slack integration.<\/li>\n<\/ul>\n\n\n\n
![\"How](\"https:\/\/images.golinks.io\/blog\/wp-content\/uploads\/2023\/07\/20122442\/slack-1-1-1024x562.png\")
<\/figure>\n\n\n\nStreamlining workflows within teams<\/h3>\n\n\n\n
Improved knowledge management can also speed up workflows within teams, not just across them. When employees can quickly access the information they need, they don\u2019t spend unnecessary time hunting down resources or waiting on others to send them a link.<\/p>\n\n\n\n
With GoLinks, employees can speed up their workflows by creating go links for their most commonly used apps<\/a> and resources, rather than having to rely on carefully organized bookmark folders or Excel spreadsheets.<\/p>\n\n\n\n
They also don\u2019t have to wait for coworkers to get out of meetings to ask them where certain resources live: instead, they can use GoLinks\u2019 AI assistant<\/a> to find the information they need. For instance, rather than wait for a Slack response from their manager, a new employee could simply type \u201cWhere can I find customer quotes?\u201d into the GoLinks dashboard, and be helped by GoLinks\u2019 AI assistant.<\/p>\n\n\n\n
![\"How](\"https:\/\/images.golinks.io\/blog\/wp-content\/uploads\/2023\/07\/20113228\/GoAi-1024x587.png\")
<\/figure>\n\n\n\nIn the same way, a new hire can direct their own learning by asking GoLinks\u2019 AI assistant<\/a>, \u201cI just started, what are some resources I should know?\u201d in Slack.<\/p>\n\n\n\n
![\"How](\"https:\/\/images.golinks.io\/blog\/wp-content\/uploads\/2023\/07\/20114523\/slack-2-1-1024x640.png\")
<\/figure>\n\n\n\nBeing able to easily remember, find, and access resources can help teams increase their productivity<\/a> and boost their day-to-day efficiency.<\/p>\n\n\n\n
Managing SaaS usage & spending<\/h3>\n\n\n\n
Finally, knowledge management software can help organizations cut down on costs by tracking and managing teams\u2019 SaaS usage<\/a>. Today, the average company has over 110 software-as-a-service (SaaS) apps<\/a> within its tech stack, yet at least a quarter of those apps<\/a> go underutilized by employees.<\/p>\n\n\n\n
![\"SaaS](\"https:\/\/images.golinks.io\/blog\/wp-content\/uploads\/2023\/09\/20134102\/Banner-Image-Tech-Stack-2-1024x176.png\")
<\/a><\/figure>\n\n\n\nGoLinks makes it easy for IT teams to identify the apps that are being underutilized by teams. Since employees use go links to link to resources and share information with others, GoLinks can be used to get a sense of which apps are more frequently used by teams and which aren\u2019t. Admins simply have to look at app usage<\/a> within the GoLinks dashboard to understand how often employees access different tools.<\/p>\n\n\n\n
![\"\"](\"https:\/\/images.golinks.io\/blog\/wp-content\/uploads\/2024\/10\/16234954\/image-19-1024x552.png\")
<\/figure>\n\n\n\nConsidering that enterprises waste over $17 million each year<\/a> on underutilized software, this aspect of knowledge management can help organizations save a significant amount every year. (And, as a bonus: the more you cut down on unnecessary tools within your organization, the more streamlined your teams\u2019 information sharing will be.)<\/p>\n\n\n\n
Improve your business operations with GoLinks<\/h2>\n\n\n\n
Improving your organization\u2019s knowledge management processes can improve teams\u2019 workflows, collaboration, and communication, giving your organization a competitive advantage.<\/p>\n\n\n\n
As Abby DeVito, Sr. Growth and Business Operations Manager at Signal Advisors, explains when it comes to using GoLinks: <\/p>\n\n\n\n
\u201cEveryone loves it. It\u2019s super simple and doesn\u2019t require training. Most of the team is brand new and we\u2019ve doubled our hiring; having access to an easy-to-use tool like GoLinks\u2014that doesn\u2019t require training\u2014is nice.\u201d<\/p>\n\n\n\n
Ready to improve your own teams\u2019 knowledge management? Get started with a free trial of GoLinks<\/a>, which lets you create unlimited go links from day one.<\/p>\n\n\n\n
- Employees spend an average of six hours a week<\/a> (close to a full workday!) recreating work that already exists.<\/li>\n\n\n\n
![\"\"](\"https:\/\/images.golinks.io\/blog\/wp-content\/uploads\/2024\/09\/25102826\/golinks_blog_footer_cta_2x_2x-1.webp\")
<\/figure>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"