THE RFPIO BLOG

Start Responding Like a Pro

The RFPIO blog is full of insights and best practices, giving you the tools you’ll need to streamline your process and respond with confidence.

Thank you for subscribing.

Something went wrong.

Knowledge management best practices: Out with the old, in with the new

Knowledge management best practices: Out with the old, in with the new

A few years ago, Netflix debuted a show called Tidying Up with Marie Kondo. It was an overnight hit. Why? […]


Category: Tag: Knowledge management best practices

Knowledge management best practices: Out with the old, in with the new

Knowledge management best practices: Out with the old, in with the new

A few years ago, Netflix debuted a show called Tidying Up with Marie Kondo. It was an overnight hit. Why? It might not surprise you to hear that Americans, Europeans, and presumably much of the world, sit on a lot of clutter.

Clutter in the home can lead to stress and anxiety. Clutter in the workplace isn’t any better. But what happens when what you need is hidden away in a basement or crawlspace—or inside a subject matter expert’s head?

When your household clutter is hidden and you can’t find the vinyl record you’re looking for, it’s annoying. When employees can’t find necessary information, the ramifications extend far beyond their immediate departments.

While Marie Kondo is not (at least that I know of) a content management expert, a well-curated and maintained knowledge management system breaks through the clutter to ensure that the right information gets into the right hands at the right time.

What is knowledge management?

Knowledge management, as defined by Slack, has four objectives:

  • Capture knowledge
  • Improve access to knowledge
  • Enhance the knowledge environment
  • Treat knowledge as an asset

Are organizations achieving their objectives?

  • Employees spend an average of 19% of their time searching and gathering information
  • Data professionals spend about 20% of their time rebuilding existing information assets
  • 87% of employees want transparency in the workplace, yet only 18% feel their workplace is transparent
  • Only about ⅓ of organizations leverage AI as part of their knowledge management strategy

A centralized knowledge management system is vital to an organization’s operations. A single source of truth, as opposed to scattered knowledge, provides:

  • Organizational resilience and agility
  • Faster and better-informed strategizing and decision making
  • A greater ability to confront challenges and solve problems
  • Faster and improved innovation
  • Improved employee engagement, productivity, and morale
  • Better sharing of subject matter expertise
  • Enhanced collaboration
  • De-siloed business processes
  • Competitive benchmarks
  • Improved security
  • Increased revenue and profits
  • A better customer experience

Creating and maintaining a content library

A content library is not a dumping ground for documents and data. Each entry into the content library should align with business goals and processes and help maintain legal and security compliance. All content should be up-to-date and relevant—a.k.a., used or at least usable.

Doing the content management heavy lifting

In the first of our two-part series, we discussed respecting your subject matter experts (SMEs), which means doing as much heavy lifting as possible.

With the end of the quarter approaching, this is a great time to audit existing content. Here’s how:

Be organized and keep track of your own work

I keep track of my work using an Excel spreadsheet. I list all the categories of content I will review, who my subject matter experts are, and how much content I have.

I also indicate how often to review the content. For example, a publicly traded company’s content requires quarterly review. The content might be owned by a content manager, someone in investor relations, or corporate communications.

If a company is privately-held, it might have some high-level information it provides on a quarterly basis, although many privately-held companies provide that information annually. If you don’t know how often to review your content, rely on your SMEs. They know the content the best.

Once the SME has provided a review schedule, you can track it on a spreadsheet or on a content management platform to establish review cycles.

Once you’ve established your review cycles, there are a few metrics you want to consider to show SMEs and leadership that your content is in the best possible condition, including:

  • Usage
  • Recency
  • Completeness

You should do a few things to show SMEs that you are organized and ready for them. Build out a plan, including:

  • Showing that you’ve removed unused content
  • Showing that you’re focused on the most-used content
  • Showing that you are organized
  • Showing that you know how to distribute the content to be reviewed
  • Testing your proposal automation and content management platform in multiple environments (office, home office, client’s site, hotel and airline wifi, etc.) to ensure stability
  • If you are using a content management platform, leverage the review and reporting functionality
  • Strategic tagging, especially if an SME has a lot of content to review (consult with your customer success manager before going into that level of detail)
  • Engaging leadership at both the proposal and SME sides, so they know what you’re doing, what the SMEs are doing, how much work there is, and when it’s expected to be completed
  • Recognizing contributors once the reviews are completed

Review most-used content first

The first step to an efficient content management system is pretty simple. However, you will need a lot of help from your subject matter experts to ensure accuracy. The key to maintaining a collaborative relationship with SMEs is to honor their time. Rather than hand them a mile-high virtual stack of content, sort by that which is used the most.

As a proposal manager, you know that RFxs aren’t exactly creative documents. Most questions are near duplicates of those you’ve seen 100s of times before.

So, if your organization doesn’t have content management software and you use SharePoint or Excel to track your content, you can still review the most-used content by seeing the Q&A pairs used on your last 2 or 3 proposals, or perhaps the previous 3-6 months.

You could even take your very first 2023 proposal, review every piece of content that goes into it, and call that your 2023 gold standard.

Review zero-times-used content

The next step is to approach content management from the other end of the spectrum—look at never-used content. It might be tempting to automatically archive or delete (I’m not a fan of deleting) all your never-used content, but that could be a mistake.

As with your most-used content, look at the last 3-6 months. Ask yourself this:

  • Is some of the content relevant, but you haven’t had the time or an opportunity to use it?
  • Is some of the content deal- or client-specific?
  • Is some of the content product- or service-specific and something you might only need to use every 2-3 years?
  • Was the content updated in the last year?

If any of your never-used content meets the above criteria, it’s a good idea to keep an eye on it during the upcoming year to see if it proves its value.

Keep your review/moderation queue current

Once you’ve completed your initial review, keep your review/moderation queue current by setting aside time each week and each month to work through your new and existing content.

Make sure you get content out the door and into the content library in its most accurate state as it is reviewed and updated through projects and SMEs.

Break down your content to achieve success

Now that you know which content is relevant or which might be relevant in the future, it’s time to think strategically about content and how to organize it. It might seem daunting, but it’s very manageable if you approach it in bite-sized pieces.

High-level groups of content

High-level groups of content might carry different names depending on your content management system. If you use RFPIO, those groups fall under “collections.” Others may refer to them as “folders.”

Regardless of names, collections or folders are great ways to begin to attack the content and look at its health as you enter a new quarter or year. You can organize the folders by solution, geography, language, product, etc.

If you added the information to your folders in the last 6 months, keep it. If the content was not used during that time, you can archive it. If you aren’t comfortable creating a periodical archive, you can create a holding tank (or parking lot) for content you want to make available to a limited number of people.

The holding tank will contain content that’s still relatively current but not locked down. Then you’ll be able to access that content and pull it back into the content library if used. If you haven’t used content in your holding tank or parking lot in 3, 6, or 9 months, depending on your review cycle, you can archive it.

Using the holding tank is a great way to strategically add content back without muddying your current content library.

If you have a way to export the content from a SharePoint site or existing non-RFPIO platform to an Excel spreadsheet, you can begin to run some pivot tables. Look for:

  • Number of Q&A pairs in each collection or folder
  • Number of times used
  • Date it was last used

You can also run a pivot table on the zero times used content to see what was added and not used over the last 6 months vs. what should be archived because it’s more than 6 months old.

Report, report, report

Most leaders aren’t particularly interested in the minutiae of a content management review cycle. Still, they want to see results and a demonstration of continuing value, beyond just time savings, in your proposal automation system. That’s where reporting comes in.

Most proposal management systems contain built-in reporting features. Look for them if you are about to deploy a new proposal management solution.

The goal is to show that you have demonstrable time savings and that you are getting into the strategic benefit of the platform by showing that you can keep your content current, accurate, and fresh.

Reporting metrics should include the following:

  • Time saved
  • Accuracy of answers
  • The number of people successfully using the system
  • The number of people who can successfully access content that they may not have had access to before

Let leadership determine reporting frequency

Reports are how you substantiate the strategic benefit you’re getting out of your content management platform, so let leadership determine the frequency.

Most likely, they’ll say quarterly, although it could be monthly at the beginning and then quarterly after your first review cycle. Think of these reports in much the same way you think of the reports your proposal team has to create.

Be consistent and strategic

Stick to your reporting schedule, metrics, and format. Show leadership usage, review schedules, and recently updated content reviewed by your SME and polished by your proposal team and content manager.

Show these for each group of content, line of business, collection, geography, language, or however you organize your content. Be consistent in your format by nailing down your template at the beginning of the year.

Get feedback from the proposal leadership, SME leadership, sales enablement leadership, or, if your company is small to mid-market, from your C-suite.

Ensure that you’re reporting in a way that is valuable to them. Use that format every time you report. Executives and leaders like consistency; they also like graphics. Instead of a lot of Excel spreadsheets, use graphics such as charts or screenshots.

If, for example, you’re an RFPIO user, show leaders used vs. unused content for the annum and then quarterly going forward. You can also show them content that has owners, no owners, has been reviewed, hasn’t been reviewed, etc.

Explain to them why these things matter, and make sure all your content managers, SMEs, and leadership teams are involved in the reporting conversations.

If you use RFPIO or another platform that includes reporting functionality, you can take screenshots of your system reports and include them in your slide decks. Having that consistent graphic will be helpful for leadership, and it will show you the incremental and cumulative progress you’re making.

Also, it will show you when you need to start archiving content and maybe gaps where you need to add new content. RFPIO users can take screenshots of your content library insights report at the beginning of the year, then monthly and quarterly.

At the end of the year, the screenshots will tell a powerful story. Halfway through the year, you might start seeing gaps and areas you may need to improve upon, so by the end of the year, you can show where you spotted that and where you can make adjustments.

Monetize the value of time spent

Leadership likes to see that you’re flexible, nimble, and always thinking about best practices. Additionally, as you save SMEs’ time by reducing the number of Q&A pairs they have to review, etc., leadership will be able to put a dollar value on time saved.

For example, it takes around 3-5 minutes to review a Q&A pair. 10 of those at 5-minutes-a-piece saves 50 minutes of an SME’s valuable time—time they can spend with clients, prospects, doing demos, or other vital aspects of their day job.

If your company has some newer SMEs, content review is a great way to engage the new SMEs and make the time they spend learning the new system and products valuable to the organization.

Think about the next thing coming

As you know, content evolves. As you acquire new knowledge and content, be strategic. Don’t just start loading content to your newly reviewed content management system. Spend time with the content before you load it. Make sure it’s the right content for your content library—it will be used again…it has been reviewed…and it’s current, accurate, and comprehensive.

When you import the new content, identify who owns it, whether you work from a content management platform, a spreadsheet, SharePoint, etc. You also want to set the content up for success.

Tag the content, organize it, and put it in collections, folders, or however your system works. Additionally, you want to work with your SMEs to identify when that content needs to be reviewed—quarterly, annually, every 18-24 months, or when there’s a new product release.

Then use the sweet spot of 10-12 Q&A pair reviews per week to spread the content out in a way that’s easily manageable for your SMEs. Be mindful of the review work they already have assigned to them.

Technology-enabled content review

Keep your content current, accurate, and fresh, and set your SMEs and content review process up for success with RFPIO’s review cycle reminders, advanced reporting, and project management features.

If you would like to learn more about how RFPIO, with the help of machine learning, helps ensure best practices throughout your content review processes, schedule a free demo.

Knowledge management best practices: Gaining company buy-in

Knowledge management best practices: Gaining company buy-in

At RFPIO, one of the first questions potential customers ask is whether our platform is scalable. The answer is an unequivocal “yes,” but we can ask the same about most other organizational content management systems.

Is your content management system scalable? Do you know how much content you have? How much of it is redundant? How much of it is outdated? How much of it is trivial? Do you have systems in place for new content?

According to Deloitte, 75% of organizations recognize the importance of creating and preserving knowledge, but only 9% of companies are ready to make that commitment. There are a few reasons for this, but 4 of the top 6 reasons cited are easily overcome by creating top-down buy-in through adhering to content management best practices.

  • 55% report organizational silos
  • 37% specify a lack of incentives
  • 35% say there’s a lack of organizational mandate
  • 35% point to shifting roles

Perhaps yours is one of the 75% of companies that appreciates the need for a compliant, organized, accurate, and up-to-date knowledge library. However, with most obstacles coming from within, leadership might see sprucing up your knowledge base as too high a hill to climb, at least right now.

You aren’t alone. In this blog, we’ll discuss achieving organizational, and most importantly, subject matter expert buy-in.

The importance of information governance

Information governance, as defined by Gartner, is the “specification of decision rights and an accountability framework to ensure appropriate behavior in the valuation, creation, storage, use, archiving, and deletion of information.”

Your company’s information management system is everything—and I mean that literally. A well-developed and maintained content management system prioritizes and categorizes all the key documents and pieces of information your company has collected since its founding.

It also includes retiring information that is inaccurate, no longer relevant, redundant, and past a document’s “shred by” date.

Information may be called upon to facilitate major decisions, create proposals, close sales, reassure customers, prove regulatory compliance, help resolve legal matters, etc.

It’s not just decision makers who benefit from a content management system, so do employees. A disorganized system brings about higher labor costs, reduced productivity, and lower morale.

  • Employees value information that is easily accessible
  • Most employees perceive the information in their company’s knowledge base as average or below
  • Over 70% of companies believe that effective knowledge management will increase productivity by at least 20%
  • People spend more than half their days on “busy work,” which includes searching for information
  • 42% of company knowledge lies with individuals, and when they’re unavailable, coworkers lose 42% in productivity
  • Enterprise businesses lose $47 million per year in productivity due to poor knowledge sharing
  • 81% of employees feel frustrated when relevant information for their jobs is withheld
  • SMEs are extraordinarily busy and, like everyone, resent when they think you’re wasting their time

Benefits of good information governance include:

  • Informed decision making – Decision-makers need accurate and current information
  • Breaking down silos – Good governance helps break down information silos by democratizing knowledge
  • Regulatory risk management – Document lifecycle management helps ensure regulatory compliance
  • Legal risk management – Proper digitization and tagging simplify the legal discovery process.

Proving value to leadership beyond just cost

When you initially implement a content management system, the time savings will be impressive—often 40% or more in the first year. But once you begin to reach peak efficiency, demonstrable time savings drops.

That’s when you need to think strategically to show lasting value in your content management platform. Your goal is to prove that value to leadership and keep your content in gold-standard shape.

Unfortunately, many content management strategies don’t provide the types of reporting that include the metrics decision-makers expect, which may include the number of Q&A pairs, those that are regularly used, those that are never used, the amount of redundant information, and how much time is spent searching for information, etc.

Done right, regular content auditing and reporting will provide the data leadership demands as well as help improve morale and boost productivity.

Who are your key decision-makers?

Every organization is different. You may need to get buy-in from one or more members of your C-suite. You may also need to engage sales, sales enablement, and of course, your SMEs (subject matter experts).

Working with your content teams

Subject matter experts are not octopuses—or is that octopi? At most, they have two arms, and if you tug too hard at one, it will never grow back. All of this is my roundabout way of saying, “respect your SMEs!” and do as much of the heavy lifting as you can.

Monetize the value of time spent and time saved

SMEs are typically either consultants or high-ranking members of your organization. Either way, their time is worth a considerable amount of money.

If you can demonstrate to leadership that you’ve reduced the number of Q&A pairs SMEs need to review, you will have shown significant cost savings.

Typically, reviewing a piece of existing content will take about 3-5 minutes. Removing 10 unused Q&A pairs could save your SME as much as 50 minutes. That’s time that could be spent with prospects, doing demos, or performing other tasks.

How to make friends with your SMEs

SMEs may not be official content team members, but they are vital participants in the content creation process.

SMEs are almost, by definition, some of the busiest people in most companies. Odds are, they’ve already invested a considerable amount and expertise in your Content Library. They may have answered many questions multiple times, so you might understand their frustration with the process.

Keep your SMEs engaged by:

  • Forming a partnership – Assure your SMEs that once the Content Library is clean, duplicate efforts will be unnecessary.
  • Involving management to drive SME participation – You’ve proven value to decision-makers. Let them use their influence to encourage SME participation.
  • Soliciting feedback from the SMEs and incorporating it into your process – They will likely have insight into content management and development.
  • Respecting their efforts by spreading content reviews over time – As I like to joke, “How do you eat an elephant? One bite at a time.” Not that we’d advocate actually eating an elephant, but the point is, break the project up into smaller, easier-to-manage pieces.

Your SMEs have ownership over all of their content. Respect their time, but also respect the thought and effort they’ve given each answer. Show them that you value the integrity of their content while taking on as much of the work as possible.

You will be working long-term with your SMEs, so build a rapport by showing that you have a plan. Let them know that you’ll do as much of the project as possible before calling for their assistance.

If you can show that you have carried the baton as far as you can, they’ll realize that you respect them and that their time matters to you.

Communicate with leadership

You’ll want to keep leadership informed regarding both your proposal team and SMEs so they know what you’re doing and what the SMEs are doing, how much work there is, and when you expect it to be complete. When the work is complete, show leadership who was invaluable to the process.

The best way to do this is to identify the leaders and then ask your leadership to coordinate a meeting for all those leaders. Create a PowerPoint deck to show that you are invested, prepared, and ready to partner.

The deck should show that you are ready to own the process, communicate with all parties as often as needed, and you will be a partner with the SMEs. Show how it will not be incumbent on the SMEs to complete the review.

Earn and maintain leadership buy-in with regular reporting. Early on, you might issue weekly reports. Once you get going, you can move to monthly reports.

The goal is to show the impact you’re having, the amount of updated content, the SMEs who are involved and have done good work for you, and time saved.

Get user buy-in: Understand how different people use the Content Library

Content management is not a one-size-fits-all approach. User input is critical for managing a Content Library. Adjust your approach depending on the type of person who owns the content.

Content hoarders

Like those who don’t regularly clean out their email, content hoarders won’t generally archive their content.

If the hoarders are rolling along just fine because they’re familiar with all their content, that’s great, but perhaps not for others who need it.

You should build a strategy for hoarders and get creative using their own tags, star ratings, or keywords instead of archiving their specific content. Then, gently guide them toward warehousing content.

This incremental approach will encourage content hoarders to trust that you aren’t out to get rid of all their content while preventing negative feedback from other users.

People who know the answers

Some authors are so familiar with the content that they might know the answers cold, or at least to the point where they can simply check the boxes on an RFx, add any comments, and go on from there.

The problem for other users is that the authors aren’t using content in one of the identified ways to capture content usage. They aren’t applying or copy/pasting the answer as they would with RFPIO.

Authors are probably highlighting what they need, copying it, and plopping that right into the answer field if they’re using it at all.

The best approach to get them on board is to ask them to strategically go through the content and review and mark their best content.

With RFPIO, they can use a star rating system, where the author can mark only their frequently-used content with 5 stars. The rest of their content should have no rating, at least for now.

People reluctant to change

Generally, people who are reluctant to change have all their Q&A pairs conveniently stored on a spreadsheet. Show those who are change-averse that a content management system will save them time and keep them from having to repeat themselves.

It will take them a little time to get used to the system, and they’ll need to see trust from others. One way to do that is to team them up with someone already using the system successfully.

RFPIO helps you identify those who are reluctant through usage reporting. For example, those who spend very little time in the system might be reluctant. This could also be true of people who spend more time in the system than their productivity indicates. In both cases, additional training sessions could help.

Another way to identify reluctant users, or perhaps just those who need additional training, is to survey them. I suggest using a Likert scale, where for each statement, such as, “Using RFPIO is simple,” there are 6 possible responses, from “strongly disagree” to “strongly agree.”

If a few people choose answers in the bottom 3, individual training might be in order. If more than a few are uncomfortable using the system, it’s time for general training sessions. I recommend about 6-8 questions per survey. You can issue further surveys on a quarterly basis or what works best for you.

The knowledge management platform that instills trust

RFPIO is the industry-leading response and content management platform. decision-makers undoubtedly know about the cost and time-saving benefits of RFPIO’s proposal response features. Even the most reluctant users will recognize the benefits and soon become expert content librarians.

And what about RFPIO’s role in information governance, turning your knowledge library into a sales enablement tool and a true repository of company knowledge instead of simply a response management tool?

Schedule a free demo to see how RFPIO can help turn your knowledge library into a business asset, remove some of the burden from SMEs’ shoulders, and provide leadership with the reporting and results they need.

Knowledge management best practices

Knowledge management best practices

When a business is in its founding phase, it’s undeniably chaotic, but it’s also when company communication is at its peak. Everyone is on a first-name basis and working toward the same goal.

If Mark in sales needs financial information about the company for a potential customer, it’s easy to run down the hall to ask Bethany, the CFO. If Bethany wants next quarter’s marketing forecasts, Harper, the CMO, is just steps away.

Soon, though, the business grows, which of course, is the goal. Then the company hires an HR team, and the staff begins to expand. And then, perhaps without noticing, something happens—silos develop. 

Harper and Bethany might still know each other, but their employees may not. Sales, for example, becomes wholly removed from the people responsible for building the company’s products. They may even be siloed off from others involved in the sales cycle. 

The most significant loss in a siloed organization isn’t about names or distance to colleagues’ workstations; the most significant loss is democratized access to company knowledge. 

This blog will discuss best practices for transforming scattered company knowledge into a single source of truth, a.k.a., an intelligent Content Library. 

What is knowledge management?

Knowledge management refers to how companies collect, organize, analyze, share, and maintain valuable company documents and data. The objective is to democratize knowledge and empower employees to accomplish more in less time. 

Knowledge management is also about ensuring that everyone in the organization is on the same page—a single source of truth. Effective knowledge management prevents miscommunication, incorrect information, and knowledge gaps. It also spurs productivity and helps connect, if not tear down, silos. 

Knowledge management systems

A knowledge management system is about managing a centralized repository of all of an organization’s information. It may include shareholder or annual reports, marketing collateral, sales enablement material, legal documents, contracts, company data, software documentation, operating procedures, etc. 

Knowledge, of course, is fluid—so is an effective knowledge management system. The software should prompt gatekeepers to run regular audits for inaccurate, non-regulatory compliant, or out-of-date files. It should also remind them when a record might need to be virtually shredded. 

Aside from its employees, internal knowledge is a company’s most important asset. Accurate and up-to-date knowledge management systems help executives, response management teams, sales, marketing, accounting, human resources, etc., do their jobs. Does that mean all employees should have access to the entire knowledge base all the time? Definitely not, but we’ll elaborate on that in a bit.

The importance of managing internal knowledge

We are in the midst of the Information Age. Nearly anything we’d want to know is a simple Google search away. But can we say the same about workplaces? As much as that might be the goal, for most organizations, the unfortunate truth is no. 

  • 75% of organizations qualify creating and preserving knowledge as important or very important.
  • Only 9% of those organizations say they are ready to address knowledge management.
  • About ⅓ of organizations haven’t leveraged any form of artificial intelligence (AI) for knowledge management.
  • Only 8% say they’re leveraging AI to a great extent.
  • More than half of companies’ data goes unused.
  • An employee survey showed that over 90% of respondents think it should be as easy to find company knowledge as it is to find information on Google.
  • Most think it’s easier for consumers to find information.

Advantages of developing a knowledge management system include:

  • Informed decision making – All the data and documentation is at decision makers’ fingertips.
  • Better strategies – Knowledge management systems provide click-of-a-button access to sales and market trends.
  • Increased revenue – Arm sales and response teams with the knowledge they need to win more business. 
  • Increased efficiency and productivity – No more searching for information.
  • Improved proposal quality – Content at your fingertips provides more time to write and edit a compelling, bid-winning story. 
  • Increased response accuracy – Reusing existing company-approved content is far less error-prone than rushing to compile information and provides more time to check work.
  • Trend analysis – Generate reports from anywhere.
  • Staying ahead of competition – Compile competitive and market research.
  • Expert knowledge retention – No one likes to answer the same questions twice (or more). 

What is content creation and reuse?

Content creation is about generating content that appeals to a company’s persona buyer. Content can come in written, visual, or audio form. 81% of organizations see content as a core business strategy.

A content management system allows users to create, collaborate, publish, edit, store, and catalog digital content right on the platform. Advanced content management systems help take work off of users’ hands, leveraging AI to read, catalog, and store uploaded documents. 

Then, instead of reinventing the wheel each time stakeholders need information, they can reuse and edit content as required. 

Best practices for knowledge management

Knowledge management aims to create an effective single source of truth, with accurate and up-to-date information. Whether a stakeholder works in sales, response management, legal, finance, or HR, the information should be easily searchable, consistent, and repeatable. 

But consistency and repeatability on their own aren’t enough. A knowledge management system needs to not only have the scalability to grow and change with the organization but also to help the organization grow and change. 

Determine the best type of management solution for your company

There are two main knowledge management solutions: company wikis and internal knowledge bases. Let’s delve a little deeper into which solution might work best for your organization.

Corporate Wikis

Did you know that the word “wiki” means “very quick” in Hawaiian? It sort of seems like an oxymoron for island life, right?

A corporate wiki is basically the same concept as Wikipedia. A wiki allows any employee to add, delete, or edit content. And surprisingly, most wikis are pretty quick.

Corporate wikis:

  • Are knowledge repositories – Employees add knowledge to the database as it becomes available.
  • Are searchable – As with Wikipedia, corporate wikis are easily searchable.
  • Save time – If the information is in the wiki, there’s no need to track down subject matter experts. 
  • Improve employee engagement – Since wikis are open to all employees, even relatively bottom-of-the-ladder employees can participate in information gathering, sharing, and utilization.
  • Support links – A single document or piece of content might have one or more parent or child records. Wikis let users link to related documents and content.
  • Some, but not all, wikis are open source.

Still, corporate wikis are not without their downsides, including: 

  • Unreliable contributors – Sometimes, knowledge can be too democratized, and contributors might not have the entire picture.
  • Inaccurate information – Wikis don’t generally have quality control measures in place.
  • Difficult to audit – Knowledge can have a short shelf life. Wikis aren’t famous for processes to weed out and update old content. Also, anyone can edit.
  • No way to define page roles – Wikis are open to all employees; there is no way to limit viewing or editing rights.

Internal knowledge bases

On the other hand, an internal knowledge base has more in common with a library, only without space limitations. Ideally, a knowledge base should house all company knowledge, and after an employee enters their login credentials, a library card of sorts, the virtual librarian directs the user to the content they need.

But there’s more to an internal knowledge base than gatekeeping and pointing users in the right direction. A true internal knowledge base should have several key features, including:

  • Built-in smart search feature – Leverage AI assistance for fast and accurate searching.
  • Custom fields – No two companies are alike; they should be able to create fields that match their company needs.
  • Multi-format capability – An AI-powered internal knowledge base should support both written content such as question and answer pairs, and uploaded documents.
  • An intuitive and easy-to-navigate user interface – What good is an internal knowledge base if it’s difficult to use?
  • Tagging – You would never just throw files in a file cabinet. Think of your knowledge library as a sophisticated file cabinet. All content should be tagged and, if applicable, attached to parent and/or child folders.
  • User restrictions – Content creation and editing are reserved for verified specialists.
  • Simplified auditing – Function within the parameters of a content strategy with regular audits.
  • Scalability – A knowledge management system needs to grow as your company grows. 

Implement change in gradual steps

Too much change all at once is a shock to the system. Prioritize departments in need and introduce the system to one department at a time. Gradually expand as you dial in training, word of mouth circulates about how great the system is, and you have success stories to share with new departments and executive sponsors.

Showcase improvement metrics

Internal knowledge base software capabilities allow easy, quantifiable measurements of post-implementation success. The functional value of knowledge management will rapidly become apparent to end users in how they can execute their responsibilities. 

See how Genpact increased efficiency by up to 35% with their RFPIO-powered knowledge base.

They’ll be able to build better proposals faster, respond to prospects and customers with greater accuracy in near real-time, and gain contextual insight into all the content relevant to their role.

The strategic value of knowledge management is that you’re able to show the system’s value to your leadership team so that they can trust your reporting accuracy. Numbers don’t lie, but you need measurement capabilities to get the numbers. Plus, it makes it easier to measure ROI. You have to communicate the value of your single source of truth.

Internal knowledge base software easily allows you to measure success post-implementation. I’ll call out three of my favorite RFPIO reports that help illustrate its strategic value:

  • Content Library Insights Report – This dashboard connects you to insights on your Content Library, including content moderation and usage, content owners, and content moderators.
  • Content Library Timeline – More of a tool than a report, this allows you to proactively set SME schedules, so content auditing responsibilities are parsed out manageably instead of piling on hundreds of questions at the end of the year. From a reporting standpoint, it shows leadership how SMEs use their time.
  • Content Library Search Terms Report – Which terms are end users searching but receiving zero results for? This report delivers instant insight into which content you need to develop to meet user—and ultimately prospect and customer—needs.

Ensure that your team can access the knowledge they need for shared success

If knowledge is not accessible and usable at scale, then it’s probably not worth managing. Sales teams need content to answer tough prospect questions in near real-time and build personalized presentations. Proposal teams need on-demand knowledge to answer questionnaires and create engaging proposals. Support teams need access to knowledge from wherever they’re working without toggling between applications to improve the customer experience.

This can only happen with open access to the knowledge management system. That’s why RFPIO provides unlimited user licenses, so everyone who can benefit from knowledge can also access knowledge. Technical, product development, sales, marketing, legal, security…all of this content has value and will strengthen your knowledge management. The right system will help you restrict access to sensitive content that may include private, confidential, or proprietary information.

Managing organizational knowledge with RFPIO® LookUp

Remote work and distributed workforces are the new norms, so why should employees have to go to the office to access the knowledge database? 

RFPIO’s internal knowledge base software enables better organizational knowledge management. RFPIO® LookUp provides team-wide access to RFPIO’s Content Library from anywhere and from preferred productivity tools, such as:

  • Google Chrome
  • Chromium Edge
  • Google Hangouts
  • Microsoft Word
  • Microsoft Excel
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Microsoft Teams
  • Slack

Whether from a salesperson in the field or a response manager who works from home, enhanced accessibility helps facilitate content reuse, enable real-time access to corporate expertise, improve response time, and scale the ability to respond to RFPs from wherever they have access to a computer. 

See RFPIO® LookUp in action

I often say that RFPIO’s robust, scalable Content Library is like Clark Kent—bookish, a little nerdy, but incredibly smart and has the strength of a superhero. RFPIO® LookUp removes the metaphorical glasses and lets the Content Library fly to any destination at the speed of, well, the internet.

If you’re interested in learning how RFPIO’s Content Library, teamed with RFPIO® LookUp to let your company knowledge fly, read more about it. You can also schedule a free demo.

 

Corporate wiki vs internal knowledge base: Which is better?

Corporate wiki vs internal knowledge base: Which is better?

Wikipedia is the primary resource hosts Jason Bateman, Sean Hayes, and Will Arnett cite in their podcast, Smartless, when interviewing a veritable who’s who in entertainment, sports, and journalism. It’s a must-listen podcast, IMHO, but not because the hosts actually rely on Wikipedia as their source. The use of Wikipedia is an inside joke because one or more of them usually knows their “surprise” guest quite well. As a result, the interviews are funny, insightful, and loaded with personal anecdotes and nostalgia.

What would happen to Smartless if Jason Bateman decided to forego podcasting for more directing opportunities? Could Sean and Will fall back on a wiki or internal knowledge base where Jason had the opportunity to upload his insight into interviews with Erin Gray, Ricky Schroeder, or Alfonso Ribeiro? (Try a reference that’s timelier than “Silver Spoons,” RD.) How about interviews with Laura Linney, Jason Sudeikis, or Rachel McAdams? Comparatively, they’d fall flat without Bateman’s personal knowledge and relationship with those guests.

In the real world, where we all do business with people who haven’t starred in a movie, sitcom, or Netflix series in the past 40 years, falling flat due to ineffective knowledge sharing means not meeting customer expectations, not having answers to prospect questions fast enough, or giving wrong or outdated answers in proposals. It’s costly and embarrassing. It’s also avoidable.

Businesses looking for knowledge sharing tools often end up deciding between two options: corporate wikis or internal knowledge base software. While they may seem similar, they’re actually quite different. In this blog, we’ll break down the differences between company wikis and internal knowledge base software to determine which is the best for your business.

What is a corporate wiki?

A corporate wiki is developed using an open source model. This means that anyone can submit edits or gain access. Although touted for being “collaborative,” they are not always reliable because anyone can make changes and include inaccurate information. Democracy works in politics and when making decisions with your fellow lifeboat occupants. Crowdsourcing worked for Tom Sawyer and tells you if police are ahead on Waze. Neither are good fits for business content.

As far as knowledge sharing is concerned, corporate wikis follow the rules of the jungle. While they certainly encourage greater employee involvement, power users tend to elbow out the specialists. They also get out of control fast. It’s an environment where content seeds are planted and then vines grow depending on what’s most popular or controversial. Without any strategy or rules in place, old vines don’t get pruned, some seedlings get overshadowed, and Barry from engineering starts every edit with, “Whoever wrote this is an idiot. The correct answer is…” Not the sort of collaborative vibe you were hoping for.

What is an internal knowledge base?

An internal knowledge base exists in a self-contained solution designed to streamline access, creation, and review of your business content. Unlike corporate wikis, internal knowledge bases have verified writers, so that all team members using the knowledge base can feel confident that the answers they are finding are accurate. Whereas wikis are open to any user creating or editing content, internal knowledge bases are read-only. If the corporate wiki is the jungle, then the internal knowledge base is a curated nursery.

Structure and strategy are the two biggest differentiators between corporate wikis and internal knowledge bases. Within an overarching content strategy developed for the internal knowledge base, writers create and edit content based on a schedule, which is informed by data-driven insight. Tags, collections, and custom fields define its information hierarchy, making it more user-friendly and efficient to search.

Depending on how you set up your internal knowledge base, you can also gather data to derive intelligence on how it’s being used, what it’s missing, and what it doesn’t need. For example, through RFPIO, users can output an Content Library Insights Report to see which content gets used most often as well as which search terms receive very few or zero results. In the latter example, content managers can build content production plans around zero-result search terms so users will be able to find answers they need during their next search.

Creating an internal knowledge base is a 6-step process:

  1. Consolidate existing knowledge: Import your most recent sales proposals, DDQs, security questionnaires, and RFPs.
  2. Grow as you go: Add new content as products come and go, markets change, audience triggers evolve, and new departments come on board based on your initial tag, collection, and custom field structure.
  3. Stay accurate and up-to-date: Curate content to keep it fresh (corporate content every 90 days, product content every 6-12 months, and evergreen content that doesn’t change much every 12-24 months).
  4. Provide open access: Make sure everyone who needs to use the content has access to the content. Don’t get restrained by user licenses.
  5. Train your team: Even if the tool is intuitive and easy to use, set up time to train new users or else risk them never even trying it.
  6. Conduct regular audits: Don’t let the internal knowledge base turn into the wiki jungle. Keep it clean.

Learn more about these six steps here.

Why is knowledge sharing so important?

In 2020, Forrester asked more than 3,000 sales reps about their main roadblocks to productivity. Finding content or information was at the top of the list. And a McKinsey study found that knowledge workers spend 20% of their time searching for internal information or tracking down colleagues who can help with specific tasks. Time equals money, and IDC estimates that an enterprise of 1,000 knowledge workers wastes $5.7 million annually searching for information that is never found.

One more bit of bad news (I’ll end on a high note. Promise.): Knowledge workers are quitting. They are not immune to “The Great Resignation” of the pandemic. According to the New Yorker, “Many well-compensated but burnt-out knowledge workers have long felt that their internal ledger books were out of balance: they worked long hours, they made good money, they had lots of stuff, they were exhausted, and, above all, they saw no easy options for changing their circumstances.” Well, the pandemic gave them the opportunity they were looking for to simplify their life. With knowledge workers departing, organizations need to up the ante on knowledge sharing to make sure they’re expertise doesn’t go out the door with them.

Speaking of doors, knowledge sharing is also a boon for onboarding new employees coming in the door. Giving them the freedom to access company knowledge at will and in context gets them up to speed faster while making custom face-to-face training more efficient and effective (i.e., trainees can find answers to common questions in the wiki or knowledge base on their own time). A majority of HR professionals cite improved onboarding as beneficial to overall employee engagement.

As promised, a high note: Knowledge sharing encourages and rewards greater employee involvement, especially when the sharing mechanism is easy, intuitive, and trustworthy. Organizations with highly engaged employees earn about 150% more than their less engaged counterparts. So they have that going for them, which is good.

What’s better: a corporate wiki or an internal knowledge base?

Guessing I probably showed my hand too early with that wisecrack about Barry from engineering. You got it: The internal knowledge base takes the checkered flag when it comes to organizational knowledge sharing.

Its structure and the processes that support it make it a more trustworthy single source of truth, which reduces knowledge hoarding and shadow development of content that may exist in individual hard drives. And just because content is created and edited by designated writers doesn’t mean that all expertise hasn’t been tapped. Systems such as RFPIO enable content owners to automate collaboration with subject matter experts so that knowledge is captured accurately and efficiently, while maintaining consistency in message, voice, and tone throughout.

Besides, it also offers much more functionality compared to a corporate wiki. Instead of opening a new browser window or tab and navigating to the Intranet wiki, users can search content from almost anywhere. RFPIO® LookUp is a portal into the Content Library, which can be searched from Chrome like you’re searching the Internet. According to Hope Henderson at Alera Group, “We market RFPIO as our internal content Google. If anyone that’s client-facing has a question about a specific product, the RFPIO Content Library will be the first place they’ll go.”

“We market RFPIO as our internal content Google. If anyone that’s client-facing has a question about a specific product, the RFPIO Content Library will be the first place they’ll go.”
-Hope Henderson, Marketing Coordinator at Alera Group

RFPIO also integrates with CRM, communication, cloud, and other applications so users don’t have to toggle back and forth to find content. Vicki Griesinger, Director of Business Strategy, Worldwide Public Sector at Microsoft, said, “RFPIO® LookUp is available right from Microsoft Teams and surfaces content from all of our content collections without the maintenance overhead.”

With fewer writers and more controls, you might think content ends up sounding too institutional, with too few opportunities to personalize it. On the contrary. With a finely tuned internal knowledge base, prospect- and client-facing workers can find accurate content faster and easier so they’ll have more time to spend on personalizing the interaction.

Plan for unknown knowledge

In your pursuit of the ultimate knowledge repository, remember one thing: It’s going to have to change. In five years, you may need the knowledge you have now or you may not. You’ll definitely need some of the new knowledge you’re going to gain on the way.

Both corporate wikis and internal knowledge bases are updateable, but five years hence do you want to be hacking through a jungle to see what you can update? Or would you rather have the new knowledge curated and grafted onto the existing content for you so that all you have to do is harvest the fruit?

To learn more about using RFPIO to build your internal knowledge base, schedule a demo today.

Internal Knowledge Base: What it is, how to use it, and how to create one

Internal Knowledge Base: What it is, how to use it, and how to create one

“Of course banana trees are trees, that’s why there’s ‘tree’ in the name.”

That’s how a heated debate with my family started a few weeks ago. Or, rather, that’s how a heated debate would have started if Google had not ended it immediately. (In case you’re curious, banana trees are actually herbaceous plants).

At risk of outing myself as a millennial, I feel like life before search engines was basically the wild, wild west. Before we carried around the answers to basically everything in our pockets, we’d either be content with not knowing, settle on an incorrect answer, or consult books or experts. (Madeleine’s father-in-law grows banana trees, he might be a good person to ask…)

In the future, I think this is what knowledge workers will think about the time before internal knowledge bases: How did everyone function before we consolidated all company knowledge into a single, easily accessible location?

In 2020, Forrester asked more than 3,000 sales reps about their main roadblocks to productivity. Finding content or information was at the top of the list.

And a McKinsey study found that knowledge workers spend 20% of their time searching for internal information or tracking down colleagues who can help with specific tasks.

Knowledge is a company’s most valuable asset, and being able to access it quickly and easily is essential to enhancing productivity and achieving goals. To make that a reality, you need to create and maintain an internal knowledge base, also known as a company knowledge base. Here’s a guide to make that happen.

What should be included in a company knowledge base?

You can fill your company knowledge base with whatever your heart desires. However, there are a few things you’ll want to make sure are easily available:

  1. Company Information: Office addresses, employee handbooks, onboarding documentation
  2. Sales Enablement Material: Case studies, training materials, pitch decks
    Legal Documents: MNDAs, contracts, policies, regulatory documents, release forms
  3. Marketing Documents: Brand guidelines, company boilerplates, logo sets, color palettes
  4. Product Information: Datasheets, release notes, technical documentation
  5. Security Information: Certificates (e.g. SOC II, ISO-27001), audit reports, answers to security questionnaires (e.g. SIG, CAIQ)
  6. Answers to Commonly Asked Questions: What this means depends on your organization. It could be common questions from prospects, onboarding questions, questions about benefits… this will continuously evolve as you build out your knowledge base.

Think about an internal knowledge base as the place to store the answers to everything. Any question that people would usually go-to subject matter experts for answers to should be readily available—and easily searchable—in your internal knowledge base.

That way, instead of your employees pinging HR for health care policy information or asking marketing for links to case studies, they can find what they need in your internal knowledge base.

Some companies prefer to use a company wiki. A company wiki is different from an internal knowledge management solution, but it can work for some companies.

What is an internal knowledge base?

An internal knowledge base is a library of knowledge created by an organization for strict employee usage to easily (and securely) access confidential knowledge. The goal of a company knowledge base is to make everyone’s job easier by making company knowledge available on-demand.

A company knowledge base can hold answers to basically anything. This includes information about products, services, compliance, company history, and more. It can also contain the most up-to-date documents from all departments, including things like sales contracts, product roadmap, HR policies, and brand guidelines.

How to use an internal knowledge base

Here are some examples of how you can use an internal knowledge base:

  • Answer customer questions

According to Hubspot research, salespeople spend 21% of their day writing emails. Many of those emails include following up to prospects with resources, or answering questions about the product or solution. With an internal knowledge base available from their email, salespeople can find answers to customer questions more efficiently—and get back to selling.

  • Respond to RFPs, RFIs, Security Questionnaires, DDQs, etc.

Consolidating company knowledge streamlines responses to RFPs, RFIs, Security Questionnaires, DDQs—especially when you consolidate knowledge in an AI-enabled RFP automation solution. We’ve found that organizations cut time responding to RFPs by 40% (on average) after implementing RFP automation technology like RFPIO.

  • Improve onboarding

New employees often ask the same questions. Rather than relying on tenured employees to answer that question time and time again, you can store that answer in your internal knowledge base and make it available on-demand to new employees.

  • Stay on-brand

Store marketing-approved content in your internal knowledge base, including things like branded slide decks, letterhead, and templates, as well as brand guidelines and boilerplates.

  • Get technical help

Use your internal knowledge base as a go-to spot for up-to-date IT information. Use your internal knowledge base to streamline common problems and communications.

  • Answer support tickets

Store answers to support tickets in your internal knowledge base. That way your support team can learn from each other’s experiences. Whenever a tricky support question comes up, your team has a rich database to find the answer.

  • Empower everyone to create their best content

When your company’s best answers are only a few clicks away, you can create better content. This includes things like blogs, slide decks, sales proposals, and more.

What are the benefits of using internal knowledge base software?

Internal knowledge base software can be a game-changer for organizations. This includes for sales, support, marketing, and especially proposal teams.

Here are some of the many (many) benefits of using internal knowledge base:

  • Improve customer experience. The faster your sales reps can get answers, the faster your customers can get answers, and the happier everyone is.
  • Streamline onboarding. When new employees have easy access to an on-demand library of answers, it relieves the burden on senior team members—and gives them the information they need to get up and running.
  • Enhance security on private information. Since sensitive company information is stored on an encrypted platform.
  • Respond to complex questionnaires faster. When answers are all stored in one place, responding to repeat questions is a breeze (especially if your knowledge base is AI-enabled).
  • So much more. It’s nearly impossible to quantify the value you get from an access-anywhere answer database.

How to create an internal knowledge base in 6 steps

If you need real-time knowledge sharing, a knowledge base is what your business needs. Knowledge bases can easily share information in real-time with verified employees.

There are plenty of best practices to take into consideration when building a company knowledge library. Here are the steps to consider when creating an internal knowledge base:

  1. Consolidate existing knowledge
  2. Grow as you go
  3. Stay accurate and up-to-date
  4. Open the floodgates
  5. Train your team
  6. Conduct regular audits

Consolidate existing knowledge

I’m going to tell you something that might surprise you: A quick way to consolidate company knowledge starts with your sales proposals, DDQs, and security questionnaires.

When you write a sales proposal — be it a proactive proposal, SOW, or response to a request for proposal, bid, or tender — or respond to other complex questionnaires (e.g. security questionnaires, DDQs) you’re compiling relevant, accurate, up-to-date information about your company, products, services, security standards, and compliance status.

If your organization responds to RFPs, writes sales proposals, and/or fills out security questionnaires and DDQs, you already have the foundation upon which you can build your internal knowledge base.

Many teams choose to consolidate knowledge using a shareable spreadsheet (e.g. Google Sheets) or platforms like Sharepoint. While this is a perfectly respectable first step for smaller teams, it can be very labor-intensive, difficult to scale, and can easily get out of control.

For a more long-term and scalable solution, you might consider using an AI-enabled RFP automation solution (e.g. RFPIO). With RFPIO, you can import old responses (e.g. to RFPs, RFIs, security questionnaires, DDQs, etc) into the platform, and RFPIO’s patented import functionality will break your lengthy questionnaires into question-answer pairs.

Step 2: Grow as you go

After you’ve consolidated content from your sales proposals and security questionnaires, start consolidating question-and-answer pairs (Q&A pairs) from other departments. If you’re using a spreadsheet, create a tab for each department. Within the tab, designate a column for “questions” and a column for “answers”. If a question needs multiple answers, you can create an additional column.

If you use an RFP automation platform, growing as you go is much more straightforward. Tags, collections, and custom fields keep your internal knowledge base organized. And the more questionnaires you respond to, the richer your Content Library grows.

You can also easily build your internal knowledge base beyond proposals and questionnaires by adding question-answer pairs (Q&A pairs) not associated with any proposal.

As a Content Marketing Manager, I use RFPIO as a hub for sales enablement documents, including case studies, data sheets, one-pagers, blogs, and email templates. Because of RFPIO’s advanced search functionality, the sales team can easily find the information they need with a simple keyword search.

Step 3: Stay accurate and up-to-date

The key to an internal knowledge base is that it’s been approved and pre-vetted by the right people.

Before you add any new Q&A pair to your internal knowledge base, make sure it’s been reviewed and approved. If you’re using RFPIO, you can set up content moderation, so any new Q&A pair needs to go through an internal knowledge base “gatekeeper” before it can be added to the library.

The second part is staying accurate and up-to-date. If you’re using a non-automated solution like Google Sheets or Sharepoint, you can use your calendar or email scheduling tool to remind yourself to review and verify information.

With RFPIO, you can set custom review cycles on each Q&A pair. For example, if you set the review cycle for 6 months, the content owner will be sent an email reminder every 6 months, asking them to review the answer and verify it’s still up-to-date.

How often you should conduct reviews depends on the type of content. As a standard rule of thumb:

  • Corporate content should be reviewed once every 90 days
  • Product content should be reviewed every 6-12 months
  • Evergreen content should be reviewed every 12-24 monthshow often should you conduct a review cycle

Step 4: Open the floodgates

Once you’ve created your internal knowledge base, it’s time to give your team access.

If you’re using an AI-enabled internal knowledge base solution like RFPIO, you have a lot more control over user permissions, so you can feel confident your people only have access to the content with need.

And you can also make sure that knowledge is accessible from where people are already working. With RFPIO® LookUp, you can access your company knowledge from:

  • Slack,
  • Google Chrome,
  • Microsoft Teams,
  • Microsoft Outlook,
  • Microsoft Office (Word, Excel, Powerpoint), and
  • Chromium Edge

Step 5: Train your team

People hate change. This axiom never rings truer when you’re trying to get people to adopt a new system that will make their lives easier.

Even if you’re simply sharing a link to a cloud-based spreadsheet or storage system, you still need to train your team on how to use it.

Here are a few best practices to get your team up and running with your internal knowledge base:

  • Schedule training. More training than you think necessary. Once to show people how to use the system. And then again after 3 days, 3 weeks, and 3 months.
  • Share information. Create how-to guides for using the platform and share them with your team. And then share them again. And again.
  • Learn from your peers. Luckily, you’re not the first person to ever implement an internal knowledge base. Learn from how other high-performing teams about how they set up their internal knowledge base:
    • Read how the Microsoft team uses Microsoft Teams to make company knowledge widely available
    • Read or Watch how Illuminate Education made their internal knowledge base available from Slack
    • See how Genpact made company knowledge available from Microsoft PowerPoint

Step 6: Conduct Regular Audits

A healthy knowledge base needs regular updates.

For content audit best practices, head over to our blog: Clean up your RFP Content Library in 3 steps.

Get started building your internal knowledge base

Internal knowledge bases are perfect for companies looking to easily locate resources efficiently and securely. Learn more about how RFPIO® LookUp can help you create an internal knowledge base.

Or, if you’re ready to see LookUp in action, schedule a customized demo.

Get the latest stories delivered straight to your inbox

Subscribe to our blog and never miss an important insight again.

Thank you for subscribing.

Something went wrong.