Knowledge Management Works | AccountingWEB

Knowledge Management Works

How are world-class companies saving millions and improving systems? They are harnessing the power of knowledge management systems specifically designed to directly contribute to larger corporate goals, according to Best Practices, LLC’s report, “Knowledge Management of Internal Best Practices.

The report cites a leading chemical manufacturer that uses a systematic approach to ensure that knowledge management supports corporate strategy as an example. The company uses a six-step process for managing intellectual assets and says the program yielded $1 million in savings during the first year of use.

Successful knowledge management is tricky, however. Many companies have missed the mark when it comes to implementation. Although a surplus of writing exists on knowledge management theory, companies still don’t know what will work in practice and if a given strategy is suited to their company's needs and overall strategy.

Over 50 companies with world-class knowledge management strategies are profiled, including Xerox, British Petroleum, Dow Chemical, Hewlett-Packard, Monsanto and General Electric in the report. Learn more about "Knowledge Management of Internal Best Practices" by calling 919/403-0251 ext. 240 or email Lilly Gutwein.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.