Knowledge Management systems enable companies to collaborate, share expertise and tacit knowledge, and develop a library of industry or organisation specific capability.

What is knowledge management? Knowledge management is a newly emerging, interdisciplinary business model that encompasses both technological tools and organisational routines. It is the harnessing, classifying and cross-referencing of information within a business. This is achieved by systematic management of the processes by which knowledge is created, identified, gathered and shared.

Knowledge management deals with the problems of:

• Effective access to stored corporate knowledge
• Communication of knowledge between members and groups within an organisation
• Formal capture and sharing of knowledge gained through experience

How will it help? At Nexus web based knowledge management systems are designed that result in everyone in an organisation being able to access relevant information, no matter where it resides. All employees are able to share information with other personnel and collaborate in ways that are meaningful for the organisation.

Knowledge management is about connecting people to people, and people to information, to create value adding competitive advantage to business. A knowledge management system helps organisations to gain insight and understanding from its own experience. Any company that supplies its people with the organisational knowledge they need at the exact point in time it needs to be consumed, can position itself to compete more effectively.

Many companies have vital knowledge resting with one individual and do little to make the knowledge more generally available. Many companies are unaware of their own knowledge base and evidence shows that knowledge is often lost from a company when employees leave.

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