NAME: NOR SYAFAWATI BINTI BAHARIN
MATRIC NUMBER: 241095
LECTURER: DR. MASLINDA BINTI MOHD NADZIR
Write short evaluation on any Knowledge Management System (KMS).
BENEFIT KNOWLEDGE MANAGEMENT SYSTEM IN BANKING
Knowledge management system (KMS) is an information system specifically designed to facilitate knowledge sharing and integration. The relationship between KMS and the bank is very important and beneficial. Now, banks need to be more efficient because of financial market globalization. It is important for every organization to teach culture and create where knowledge management is allowed and encouraged to grow. To determine the competitive advantage, how much the organization or bank manages and diverts its corporate assets. There are two categories of carpentry assets that are tangible assets and intangible assets.
Intangible assets of the organization often do not play a very important role. To compete and become an industry, organizations should learn how to manage intangible assets. Management of intangible assets is always referred to as knowledge management. The best way for banks to manage intangible assets is knowledge management software. The knowledge management system enables banks to protect intellectual capital, connect people and focus on vital capital such as human capital. There is the benefit of a knowledge management system in the banking system namely improving customer service, saving time and money, reducing costs, enhancing risk management and compliance, and expediting the process.
Among the benefits of knowledge management systems is to improve customer service. Knowledge management systems at banks provide a fast and easy way to solve customer problems. Knowledge-based software can reduce customer complaints on services at banks by providing sufficient information to customers. Now, the Frequently Asked Questions section is getting reduced or insufficient as the typical knowledge bases are growing. Furthermore, an organization needs to see problem tickets and more live chat interactions. This knowledge management system also helps the client himself by providing specific and in-depth information. This is because the knowledge management framework is a good and useful choice of desktop support software that is still in use today.
Furthermore, the benefit of the knowledge management system is to save time and money. Knowledge software allows banks to save time and money as customers can find information related to the problems they face. Through this knowledge management system it makes it easier for customers to find information in the short term without asking for help from the bank. Reducing costs is also a benefit of knowledge retention systems. In banks, knowledge management systems can reduce the cost of information technology without sacrificing the quality of customer service. This system can also allow an organization to obfuscate outdated or unwarranted resolutions and reduces long calls and resolution cycles.
The next benefit is improving risk management and compliance. The Bank ensures the integrity of the database and is more easily compliant with compliance standards embracing this knowledge management system. In addition, banks use knowledge management to retain and reap critical knowledge by lowering the risk of hiring staff when experts resign. Finally, speeding up the process. Knowledge management systems can improve the overall process efficiency. This system can help the organization to determine the outdated content in the database, identify the information that needs to be reviewed and added more quickly and accurately. This system can also help new employees get information quickly and up to date, and research two limits.
In conclusion, this knowledge management system solves problems in business and benefits the bank by increasing efficiency, improving business decisions, and productivity, enhancing customer satisfaction and improving quality. With this system, organizations in the banking sector can grow and grow significantly. Most industries now use the Knowledge management system as a way to facilitate them in carrying out their work.