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Things You Should Know About Knowledge Management RFP

This article will help you understand why organizations need an internal knowledge base and what knowledge management RFP is
by Saadiya Munir Updated on June 10, 2022

Knowledge Management can be described as creating, capturing, storing, managing, sharing, or retrieving knowledge.  Knowledge Management Solution (KMS) is software that helps organizations manage their information assets. KMS can capture, store, search, share, reuse, and track organizational knowledge.

This article will help you discover why organizations need an internal knowledge base & what knowledge management RFP is. Let’s begin with what exactly is Knowledge Management & how to manage knowledge internally in an organization.

What Is an Internal Knowledge Base?

An internal knowledge base (IKB) is a database that stores information about your business. This includes everything from customer data, product datasheets, internal meeting recordings, training sessions, inventory levels, financials, etc. IKBs help make decisions and keep track of what has happened in the past.

They can also be used to predict future events. It helps organizations manage their intellectual capital. An internal knowledge base can help companies improve productivity, reduce costs, and increase profits.

What Should Be Included in a Company Knowledge Base?

A few things need to be part of a company’s internal knowledge base.

  1. What are the legal requirements?

  2. How do I know if my product/service complies with these requirements?

  3. Is it possible that my product/service violates any laws?

  4. If so, what can I do about it?

  5. Is there anything else I need to know?

  6. Where can I find this information?

Related Article:  Enterprise Knowledge Management

What Are the Benefits of Using Internal Knowledge Base Software?

  • Internal Knowledge Base Software (IKBS) can help you save time and money.

  • IKBS allows you to access your data from anywhere at any time. You can even use it while you’re away from your office.

  • KBS helps you manage your business better. With IKBS, you can easily track your sales and inventory levels. This way, you can ensure that you have enough stock to meet customer demand.

  • IKBS helps increase productivity. When you have access to your data from anywhere, you can work faster and smarter. You can check your sales reports, compare your numbers against competitors, and analyze trends. IKBS makes you more efficient.

  • With IKBS you can create custom analytics reports and dashboards. These allow you to view information about your business in real-time. You can then act based on what you find. IKBS saves you money.

  • Using IKBS means you don’t need to hire additional staff to handle your data. Instead, you can focus on running your business.

  • IKBS increases employee satisfaction. Employees love working for companies that offer them the tools they need to do their jobs efficiently. They feel valued when they know that their company cares about their wellbeing.

Learn More About VIDIZMO Knowledge Management System

Related Article: Knowledge Management in The Legal Department

What Does RFP Stand For?

An RFP (request for proposal) is a document that helps companies identify potential vendors or suppliers. The objective is to solicit proposals from qualified vendors who can meet the project’s requirements.

An RFP is a powerful tool that can help you save time and resources. An RFP is a formal request for information or services.

RFI is a less formal request for information. Both are used to solicit proposals from potential suppliers. The purpose of an RFP is to obtain competitive bids for a specific project. Writing an effective RFP requires careful preparation. There are several steps involved in writing an RFP.

These include defining the project’s scope, identifying the requirements, drafting the RFP document, and evaluating responses.

rfp-1

What Is Knowledge Management RFP?

Knowledge Management RFP (Request for Proposal) is a document that contains information about the company’s needs and expectations. This document is used to solicit proposals from potential vendors. Knowledge Management RFP includes the following sections:

  • Introduction

  • Scope of Work

  • Deliverables

  • Project Schedule

  • Cost Estimate

  • Terms & Conditions

  • Intellectual Property Rights

  • Risk Assessment

  • References

  • Sample RFP

What Features Should Be Added to Knowledge Management RFP?

Knowledge management (KM) is a strategic approach that helps organizations manage their knowledge assets effectively. KM includes various processes that allow organizations to capture, store, share, reuse, and apply knowledge.

These processes improve organizational performance through better decision-making, improved problem solving, and increased innovation. The following features should be included in your RFP:

  • A clear statement of what you want from the vendor(s).

  • A description of how they can meet your needs.

  • An explanation of how they will measure success.

  • A list of deliverables.

  • A detailed proposal outlining how they will perform these tasks.

  • A budget for the project.

  • A timeline for completion.

  • Any other information that may be helpful.

What Are the Knowledge Management RFP Requirements?

  1. A clear statement of the problem being addressed (what do you want to know about knowledge management?)

  2. Explain how your organization uses knowledge management (how does it work? What are its benefits?)

  3. How much time can you devote to this project (a minimum of 2 hours)

  4. A list of deliverables that you expect from us (we’ll provide you with a template)

  5. A budget ($500 - $1000)

  6. References (at least three)

  7. Your contact information (name, email address, phone number, etc.)

  8. Any other questions you may have

How Can I Get My Company to Adopt a New Software Solution?

The adoption rate of new technologies is low. Only 30% of companies worldwide are using the latest software version. This means that 70% of businesses are missing out on the benefits of modern solutions.

There are several reasons why companies aren’t adopting new software solutions. Some of them include lack of resources, poor communication, and resistance to change.

To increase the adoption rate of new technologies, you need to convince decision-makers to change their mindsets.

If they don’t see the value of adopting a new solution, you won’t get anywhere. As technology advances, more and more industries are adopting KMS systems. These include retail, healthcare, manufacturing, financial services, government, and education.

Related Article: Why Insurance Knowledge Management Is the Need of Hour

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How Can Vidizmo Help You With Knowledge Management?

VIDIZMO is a Gartner recognized enterprise video management platform that helps you manage your knowledge by providing an internal knowledge base for your company.

VIDIZMO Enterprise Knowledge Management

Use it as a video knowledge management platform to upload, stream, store, manage & distribute your knowledge in the form of videos securely within the organization. You can place access control with the help of user role management.

Overall, if you want to make your videos (besides other digital assets globally accessible to a large audience on a multilingual platform, VIDIZMO can be your best friend.

Here are a few of the key features of VIDIZMO’s EnterpriseTube that can help you in knowledge management:

  • Content Organization - Organize videos under categories, add tags to videos and create playlists or collections.

  • On-Demand Streaming - Upload videos for your employees to access on-demand through a YouTube-like portal.

  • AI-Powered Search - Search inside videos for spoken words and faces, generate tags automatically, add custom identifiers, etc.

  • Access Management - Define for every video who gets to see them on a user and group level.

  • Video Analytics - Get detailed reports on the performance of videos through engagement metrics, heatmaps and more.

  • Interactivity - Add interactive elements to your videos, including surveys, quizzes, forms, and timed annotations.

  • Role-Based Access Controls - Assign users one of the six pre-defined roles to limit the actions that they can perform within the system.

  • Content Moderation - Enable/Disable a content moderation workflow, where all content uploaded by contributors needs to be first approved by a moderator.

Explore Other Features

Summing It Up

Video is the new way of organizing information. It is more convenient, scalable, & accessible. It allows you to share knowledge through video, and it has become beneficial in today’s modern workplace.

Video Knowledge Management is a relatively new concept, but businesses are already adopting it around the globe. The idea behind VKM is to create a library of videos that employees can access at their convenience.

Companies now realize the importance of video content management to improve their corporate communication, knowledge sharing, employee productivity & customer experience.

It’s time for you to shift to the new trends.

Looking for a knowledge management system? We’d love to respond to your Knowledge Management RFP. Contact our sales team today. 

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Posted by Saadiya Munir

Content Strategist & B2B Marketer. Jack of all & master of editing. Computer Science graduate who hates to code. Introverted. Mostly hungry or sleepy. You can ping her at sadia.muneer@vidizmo.com

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