The ROI of Knowledge-Centered Service in Short, Medium, And Long-Term

The ROI of Knowledge-Centered Service in Short, Medium, And Long-Term

“Knowledge is of no power until you put it into practice” – Anton Chekhov

In the ever-evolving customer support landscape, what sets your business apart is your team’s expertise and their promptness in resolving issues. But there is a crucial element that leads to resolution success—knowledge, essentially, the way it is managed and shared within your organization.

So what can you do to foster knowledge management in a way that helps expedite customer resolutions and improve business outcomes? The secret key is Knowledge-Centered Service (KCS)a robust methodology that helps businesses capture, structure, reuse, and improve knowledge effectively.

If implemented properly, it drives a plethora of benefits at distinct levels and garners a significant Rate of Investment (ROI). Read on more to uncover the details!

Short-Term Benefits (3-9 months)

In the initial stages of KCS implementation, businesses can experience immediate operational improvements. What are those?

  1. Augmented Agent Productivity: KCS provides knowledge workers with quick and easy access to a centralized knowledge base, enabling them to find accurate and up-to-date information efficiently. As a result, they can resolve customer queries faster, leading to increased productivity.
  2. Reduced Training Time and Costs: Did you know that the average cost of training a new employee is $1252? KCS reduces this to trickle by creating a centralized knowledge base that serves as a comprehensive training resource. New employees can access this repository to acquire knowledge quickly, resulting in substantial savings and a more efficient onboarding process.

Mid-Term Benefits (6-18 months)

As KCS practices become more ingrained within the organization, additional benefits emerge.

  1. Improved Collaboration and Knowledge Sharing: KCS encourages knowledge workers to contribute, update, and refine knowledge articles based on their expertise and experience. With KCS practices in place, employees feel a sense of ownership and engagement in the knowledge management process, leading to increased collaboration and a free flow of information.
  2. Increased Customer Satisfaction: By understanding customer queries and behavior, KCS suggest relevant KB articles to them, allowing customers to find instant solutions to their problems. This streamlined and personalized self-service approach reduces customer effort and increases customer satisfaction.
  3. Refined Knowledge Bases: With real-time content health evaluation analytics, organizations can analyze their content for distinct parameters. They can identify content gaps and inaccuracies and make strategic decisions for improvement. This iterative process results in a more valuable and updated knowledge base.

The ROI of Knowledge-Centered Service in Short, Medium, And Long-Term Inner one

Long Term Benefits (12-30 months)

With a mature KCS implementation, businesses can accomplish the following long-term benefits:

  1. Scalability and Growth: As already mentioned, KCS sets the stage for a well-organized knowledge base. As it grows and evolves through continuous feedback and improvement, organizations can leverage it to boost customer support and product development. Result? Enhanced scalability and sustainable growth.
  2. Reduced Dependency: Gone are the days when knowledge workers had to create content manually. With advanced technologies such as LLMs, businesses can automate the process while enhancing the speed and quality of KB articles. This reduced dependency on manual practices uplifts the organization’s ability to deliver uninterrupted and superior customer support.

    If you want to learn more about how LLMs are reshaping the future of knowledge management, click here.

  3. Competitive Advantage: Leveraging KCS practices allows businesses to deliver remarkable self-service and support experiences. Becoming a trusted source of accurate information gives an enterprise a competitive edge and helps attract more customers.

Ready to Unlock Next-Level Knowledge Management?

Adopting KCS practices and investing in the necessary resources unleashes the full potential of your knowledge assets. And with leading-edge products like Knowbler, you do not have to go the extra mile to achieve success.

As the world’s first LLM-powered knowledge-centered customer service product, it helps you automate knowledge creation and maintenance without a hitch. Want to learn more about it and see its capabilities live in action? Request a free demo today!

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