DMS vs Intranets vs KMS: What internal knowledge base software does your organization need?

Over the last 20 years, companies have grappled with numerous challenges, including failed audits, lost contracts, and maintenance breakdowns. These issues underscored the need for an internal knowledge base where employees can access critical information and obtain assistance from the right sources. This realization led to the proliferation of various software solutions. Apart from domain-specific vertical software like CRMs, ERPs, and HRMS, the one common software used by all employees is Internal Knowledge Base Software. 

 

Today, Document Management Software (DMS) and Company Intranets are fairly common, with most companies implementing some version of these tools. However, they are not all the same. In fact, they are as different as chalk and cheese, meaning your organization might be using a tool designed for entirely different purposes. To add to the confusion, a third emerging software category is Enterprise Knowledge Management Software (KMS). 

 

Don’t start fretting already, we’re here to break it down for you. Let's get started!

Document Management vs Intranets vs Knowledge Management Solutions

What is Document Management Software?

The primary function of Document Management Software is to store documents in organized folders for every team.

 

Pros of Document Management Software

1. Economical - Built on free platforms like Sharepoint, Document Management systems are economical, and thus become the go-to exploration any organization does initially. 
2. Security - By creating folders for different teams, DMS is also be keeps guardrails so teams can’t see each other’s content, ensuring privacy and security.

Cons of Document Management Software

1. Creates Silos - But the same folder structure limits search and discovery, creating more silos on the organization, while giving the illusion of being one connected accessible system. 
2. Limited Engagement - Document Management Software, with its old school folder structure doesn’t inspire users to explore or contribute knowledge.
3. Outdated technology - Document Management Software is built on frameworks and technologies that were created roughly 20 years ago, missing out on key trends like Generative AI
4. Restrictions - Structurally, DMS software is built such that nnly a small group of people are responsible and have access for writing, approving, and uploading documents. This limits usage and most employees don’t feel included or connected to the DMS portal. 
5. Tacit Knowledge Capture - Finally, a DMS only manages to bring to front what the SOPs, manuals and checklists carry. What it fails to capture is the wisdom or best practices that are the secret oxygen of the organization. 

Who Manages It 

Typically, the IT team is responsible for managing DMS. They run the portal, determine user based access controls, authoring rights and are typically a one and done setup team. 

What is a Company Intranet?

A company Intranet acts as a social media platform for the organization, promoting employee engagement and communication.

Pros of a Company Intranet

1. Employee Engagement - An intranet is a familiar user experience that initially boosts employee interaction and engagement.
2. Announcements and Reminders - Intranets are useful for remembering birthdays and making announcements.

Cons of a Company Intranet

1. Not Knowledge-Centric - While Intranets are critical for building employee communication, they are not built for knowledge sharing. The userflows, AI and platform capabilities do not support knowledge curation or sharing. 
2. Short-Lived Engagement - As a result, engagement of employees tends to wane once the novelty wears off. They are able to see less use of it in their everyday work. 

Who Manages It

Being an employee engagement tool, Company Intranets are managed by the HR team. 

 

What is Knowledge Management Software?

A Knowledge Management Software builds the digital brain of the organization, storing SOPs, manuals, wisdom, best practices, hacks, and other critical information.

Pros of Knowledge Management Software

1. Risk Mitigation - Most significantly, a Knowledge Management Solution ensures organizational knowledge remains even when critical employees leave.
2. User Engagement - Built to facilitate knowledge exchange, a KM Solution is easy to use and encourages employees to actively participate.
3. Breaks Down Silos - A KM Solution promotes collaboration and knowledge sharing across teams, breaking silos of locations, teams and departments. 
4. Recognition - A robust KM Solution highlights and celebrates excellence within the organization, through a mix of rewards, badges, and recognition, driving employees to actively engage in knowledge exchange. 
5. Efficiency - A KM solution is most ideal to save time during the onboarding process and creates a collective wealth of knowledge.
6. Optimised Project Timelines - Companies that implement effective knowledge management practices can reduce project implementation time by up to 35%, as reported by APQC.

Cons of Knowledge Management Software

1. Requires patience - Building a comprehensive KM Solution takes time and cannot be done overnight.
2. Needs work from a cross-functional team - What an ideal KM Solution also requires is cooperation from various departments and teams.

Who Manages It? 

Being home to real work knowledge, domain experts and team leaders, who stand to gain the most from increased access to knowledge, typically manage KMS.

 

Which Internal Knowledge Base Software to Choose?

 

1. Understand Users and Their Key Points

To determine the best Internal Knowledge Base Software for your organization, start by understanding your users and their needs. Consider what they require from a knowledge management tool and how they prefer to access and share information. If you’re looking to build a casual social network, intranet might be the way to go, bur if you’re looking to build a brain for your organization, you need a Knowledge Management Solution. 

 

1. Define the Most Critical Outcomes

 

Identify the most critical outcomes you aim to achieve with your knowledge base. Are you looking to improve efficiency, reduce onboarding time, foster collaboration, or capture and retain critical organizational knowledge? Clear objectives will guide your decision-making process.

 

1. Modern Yet User-Friendly Experience

 

Choose a solution that offers a modern yet user-friendly experience for your employees. A tool that is difficult to navigate or use will not be adopted effectively, no matter how powerful its features are.

 

According to Deloitte, 82% of organizations believe that knowledge sharing is crucial for their success, yet only 25% have a formal knowledge management strategy in place. Choosing the right software can bridge this gap effectively.

1. Long-Term Value

 

Consider what will deliver value in the long term. An Internal Knowledge Base Software should not only meet your immediate needs but also grow and evolve with your organization.

1. Competitor Analysis

 

Look at what your competitors are doing. Understanding their approach to knowledge management can provide insights and help you stay competitive.

1. Integration and Implementation

 

Opt for a solution that is quick to implement and can be seamlessly integrated with your existing critical tools. Integration capabilities ensure that your knowledge base works well within your current ecosystem, enhancing productivity and efficiency.

 

1. Choosing the Right Vendor

 

Selecting the right vendor is crucial for the success of your Internal Knowledge Base Software. Evaluate vendors based on their experience, customer reviews, support services, and ability to meet your specific needs. A reliable vendor will offer continuous support and updates, ensuring your knowledge base remains effective and relevant.

 

The International Data Corporation (IDC) found that companies lose approximately $31.5 billion annually due to poor knowledge management practices. Choosing the right vendor and solution can prevent such significant losses.

 

The right Internal Knowledge base for your organization.

 

In conclusion, the choice between Document Management Software, Company Intranets, and Knowledge Management Software depends on your organization’s specific needs and goals. While DMS and intranets offer certain benefits, they often fall short in fostering a collaborative and comprehensive knowledge-sharing environment. On the other hand, a well-implemented Knowledge Management Solution can transform your organization by capturing critical knowledge, breaking down silos, and promoting a culture of continuous learning and improvement.

Gartner predicts that by 2025, 80% of large enterprises will have adopted some form of knowledge management solution to enhance their business processes. This trend underscores the growing importance of KMS in ensuring organizational success.

Investing in the right Internal Knowledge Base Software is not just about addressing current challenges but also about preparing your organization for future growth and success. By carefully evaluating your options and choosing a solution that aligns with your strategic goals, you can ensure that your organization remains agile, informed, and competitive in today’s fast-paced business environment.