Practical application ITES
Knowledge Management: Retaining Knowledge in IT/ITES Companies
IT and ITES companies are reinventing themselves in order to be able to continue delivering value to their customers. As their customers’ businesses respond to changing market dynamics, the pressure is on IT/ITES companies to deliver more as partners and less as vendors. This demands that IT/ITES companies leverage the knowledge and expertise their people and outside networks have in a way that improves the topline and bottomline of their customer organizations. Till they do that, IT/ITES companies have to deal with several issues.
Dissatisfied customer: With IT/ITES companies unable to deliver as per the expectations of the customer, they have to live with lower satisfaction ratings and in several cases get penalized for SLA breaches.
Productivity challenges: Companies also have to contend with loss in billing because of unutilized and underutilized resources. Also low productivity leads to schedule overruns which affect the profitability of projects.
Increased competition: As competition intensifies, it is hard to maintain differentiation and value addition. It also means low margins and rivals offer better pricing for the same work.
Knowledge scarcity: Stiff competition also means it’s tougher to retain talent. And with growing expectation for value addition from customers, domain knowledge experts become dearer. Not only does this translate into heavy onsite dependency due to lack of domain knowledge, but also pushes up costs significantly as quality comes at a steep cost.
What do IT/ITES companies need now? They need:
- To have a good knowledge of the customer business
- The right resources for the right job
- 90% of their resources to be billed, and only 10% to be on the bench
- More profitable billing models
- Proactive in decision taking
- To get the job done right the very first time
They need path-breaking, silo-zapping knowledge management.
Nephila™: Knowledge When You Need It: Nephila™ helps IT organizations to tap into the knowledge that exists across the enterprise. Through data captured from the various systems that already exist, conversations around the performance insights, a quick view of existing inter-dependencies, Nephila™ brings up knowledge that exists within the enterprise when it needs it.
- Faster resolution of issues
- High productivity of teams
- Less dependency on customer/onsite resources
- Faster induction of resources into projects
- Deliver as per commitments
- Knowledge retention
- Reduced re-work and improvement in quality
- Less complaints from customers
Nephila™ Leads to Happier CEOs: As the IT/ITES company unearths the knowledge that exists within itself, productivity leaps happen. And because of this, the business sees significant, positive non-linear improvements When the team delivers to the customer expectations and beyond it, you get satisfied customers When employees get recognized for their expertise and collaboration that leads to customer delight, employee satisfaction improves, leading to talent retention. As reworks reduce, turnaround times come down, and solutions are found faster because of the collective knowledge, the company sees reduction in costs and better margins. And new expertise leads to better revenues. Overall, the company starts enjoying high maturity performance.
To learn how you can transform your organization from a knowledge enabled system to a knowledge managed system, call Krios at +91-22-40107739 or write to us at email@example.com