Knowledge Management Pivotal in Improving Productivity, Service

Digital knowledge management is critical to long-term success. Learn how several credit unions have implemented knowledge management strategies to increase employee productivity and member satisfaction.

 
 

Several credit unions have recognized the benefits of digital knowledge management. While there are various types of technolgy available to suit the different needs of credit unions, each creates a central, searchable repository of information that is easily accessible for employees or members. These strategies increase employee productivity and member satisfaction by making relevant information more easily accessible.

Improving Member Service

Intranets allow employees to find internal processes and product information quickly, providing better member service through all available channels. Members can utilize knowledge bases to answer their own questions 24-7, thus also improving self-service.

"We e-mail our staff once a week publishing success stories to reinforce the notion that members like and use the technology," said Larry Biernacki, senior vice president of lending at San Antonio Federal Credit Union with $1.7 billion in assets.

Increasing Employee Productivity

Credit union employees can edit content in corporate portals without having to submit a query to the IT department. As a result, many credit unions have transferred responsibilities to each department, decreasing the dependency on the IT department.

State Employees Credit Union in Lansing, MI, with $750 million in assets assigned accountability to a different employee for every page on its corporate portal intranet. The individual is identified at the top of every page and lists appropriate contact information.

Delivering Current Information

Unlike printed materials, information provided digitally through a knowledge base, intranet, or corporate portal can be easily altered and kept up-to-date. This helps assure greater accuracy and allows for content to evolve as needed. Perfect Circle Credit Union in Hagerstown, IN with $47 million in assets motivated their employees with incentives to continually assure that they were delivering accurate, current information to staff and members.

"We have a contest with employees -- if you find an error you get one dollar. We give away approximately twenty dollars per quarter due to employees being proactive and alerting the appropriate personnel when they spot an error," commented Jonathon Hull, manager of information technology.

There are three primary types of digital knowledge management strategies: automated advice, corporate portals and knowledge bases. If you are interested in learning more about each strategy and which fits the needs of your credit union, Callahan & Associates, Inc. just released a comprehensive Market Update on Digital Knowledge Management Strategies. For more information, click here.

 

 

 

Feb. 7, 2005


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