Knowledge management best practices in 2024

Every day, your support teams learn new insights about your systems, services, and the people who use them. In many organizations, the IT service desk and the teams performing support operations have a more comprehensive perspective on your company’s use of technology than the CIO and the people who designed the system. This is because they constantly interact with users and see how the technology is put into practice.

Harnessing the valuable knowledge of support teams and making it available to others is crucial for smooth business operations, but it’s no easy task. That’s where knowledge management comes in to save the day. Read on to learn the best practices for managing your organization’s knowledge base for more efficient ITSM knowledge management in 2024.

What is ITSM Knowledge Management?

ITSM Knowledge Management involves systematically capturing, storing, and sharing valuable information within an IT service management (ITSM) framework. This process ensures that critical knowledge is readily accessible to support teams, enabling them to resolve issues efficiently and improve service delivery. By managing knowledge effectively, organizations can reduce the time spent searching for information, minimize errors, and enhance overall customer satisfaction. 

Why is knowledge management important?

Knowledge management is important because it centralizes an organization’s information and expertise to create consistent, well-informed employee support. Without a knowledge management system in place, your support operations may become disjointed, and agents may be left scrambling to find the resources they need to operate. You may also be prone to information silos, which are systems that manage information but can't communicate with other systems. These leave employees in the dark without access to the right resources.

Effective knowledge management practices can help avoid redundancy, reduce time spent on problem-solving, and enhance decision-making processes. This improves productivity and agility in adapting to market changes, giving your organization a significant competitive advantage.

12 knowledge management best practices

Let’s learn some best practices for knowledge management that you can use to help your organization succeed.

1. Align knowledge management with company goals

When you identify your company’s broader strategic objectives, you can align your knowledge management by prioritizing knowledge activities that directly contribute to key performance indicators and long-term success. Alignment informs resource allocation, ensuring that efforts are focused on areas that will have the most significant impact on business growth and competitive advantage.

2. Determine the right knowledge management system for your business

When choosing a knowledge management system, consider the cost, ease of implementation, scalability, usability, and integration capabilities of the systems you are researching. Conducting a cost-benefit or SWOT analysis can help you determine your exact needs and guide your selection.

3. Maintain your knowledge base

Your knowledge management system is only as useful as the knowledge base it hosts. Proper maintenance includes the following:

• Scheduling regular updates to keep information accurate and relevant

• Creating guidelines – like a style guide – for recording knowledge to keep it consistent and coherent across the board

• Collecting user feedback

• Conducting regular content audits to determine both specific and overarching areas for improvement

4. Leverage social media

Social media platforms can be used to create internal groups or forums where employees can exchange ideas, ask questions, and share knowledge with each other. For example, Slack, Microsoft Teams, and Zoom are user-friendly platforms that foster easy communication and can be integrated with existing business software to provide ITSM support.

5. Document everything

Documenting processes, procedures, best practices, and lessons learned ensures that useful information is recorded and preserved for employees’ future reference. This practice helps with onboarding new agents and aids in maintaining consistency and quality across your organization.

To encourage meticulous documentation, it’s important to provide templates, tools, and training. This will ensure that all critical knowledge is systematically recorded and easily accessible.

6. Build a culture built around learning

Fostering a culture that prioritizes continuous learning and development is one of the best ways to increase revenue and productivity. Encourage employees to seek out new knowledge and share their expertise. Provide opportunities for training, professional development, and knowledge-sharing sessions to reinforce the importance of learning. When employees see that their organization values and supports their growth, they are better equipped to provide excellent IT support. Additionally, they will be more likely to contribute to a vibrant knowledge-sharing environment.

7. Regularly audit knowledge

Regular audits of your organization's knowledge assets help ensure the information remains accurate, relevant, and valuable. Proper auditing can involve the following practices:

• Reviewing the knowledge base for outdated content

• Identifying information gaps

• Assessing the effectiveness of knowledge management practices

• Monitoring performance metrics

• Adapting knowledge to emerging technologies or new organizational priorities

This process allows organizations to keep their knowledge repository up-to-date and aligned with current business needs and industry standards. Conducting regular audits also brings areas for improvement to light, promoting the continuous enhancement of knowledge management strategies.

8. Measure the knowledge metrics

Accurate knowledge metrics are essential for understanding the effectiveness of your knowledge management efforts. To track key performance indicators (KPIs) related to knowledge usage and impact, employ reporting and analytics tools. You can gain valuable insights into how well your knowledge management system serves your organization by analyzing metrics such as the number of knowledge base views, article usage frequency, and resolution rates of issues using knowledge articles.

9. Leverage AI and automation

AI-powered tools can help organize, categorize, and retrieve information more efficiently than humans, reducing the time and effort required for manual management practices. These tools can also create information and contribute to a larger knowledge base. Automation can streamline routine tasks, such as content updates and distribution, allowing employees to focus on more complex activities that AI cannot do.

10. Create well-defined knowledge policies

A clear framework is necessary for managing and sharing information within any organization. Policies should outline the procedures for each step of the knowledge management process, as well as the related roles and responsibilities of employees. Clear guidelines ensure consistency, security, and compliance with regulatory requirements, and they should be updated as needed to keep up with any advancements or changes.

11. Encourage knowledge sharing 

When leaders actively participate in and champion knowledge management best practices, it sets the tone for the rest of the organization. By demonstrating a commitment to sharing knowledge and engaging in learning opportunities, company leaders can inspire a culture where employees do the same. Effective leadership also involves providing and using knowledge management resources to encourage widespread participation.

12. Give employee incentives

The success of your knowledge management system depends almost entirely on your employees. By offering rewards, recognition, or career advancement opportunities for employees who actively contribute to and use your knowledge management system, you can motivate others to do the same. Incentives can take various forms, such as financial bonuses, public acknowledgment, or access to exclusive training programs. Once employees understand the personal advantages of using the system, they will be more likely to contribute to its success.

Enhance your knowledge management capabilities today with Freshservice!

Effective knowledge management is crucial for IT team to provide quality service and maintain a competitive edge in any industry. Freshservice offers a cost-effective, scalable ITSM solution to help your organization capture, share, and utilize information efficiently.

With its intuitive interface and robust features, Freshservice makes it easy for teams to document processes, store critical knowledge, and access information on demand. It offers ready-to-use AI and automation without coding, and it integrates seamlessly with thousands of apps to maximize your knowledge management capabilities.

Get enterprise-level capabilities minus the complexity and unlock the full potential of your organizational knowledge by purchasing Freshservice today.