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Knowledge management may sound like some space age technology but in fact it's simply another means of collaborating and sharing the knowledge, ideas, data and other information about a project amongst the company or the team. Because sound business strategy involves many different aspects of all projects it's important that everyone on your team knows what is going on and what is expected. Consider an idea to create a new marketing plan for your oldest product. You want to spruce it up and make it seem new while also showing the history of the product and the reputation it's earned.
By using a software program to manage the data related to the project each team member can contribute ideas, brainstorm to come up with strategies and share them with other members. This gives your new marketing plan the benefit of several dedicated people collaborating, compromising and working to achieve the perfect way to re-introduce an old favorite. Without a knowledge management system this process would require a lot of face to face meetings, page after page of notes and ideas, and basically a lot of hassle and lack of organization.
Streamline your process by looking into software for knowledge and data management so that your business will be efficient and run smoothly thanks to the input of all your team members.