Business Challenge - The bank possessed a wealth of documented information and individual expertise (both staff and contractor) about its financial products, which could be described as part of the company's intellectual capital. However the information was unevenly distributed and inconsistently presented (sometimes not at all). This situation made a potentially very valuable resource extremely hard to leverage for the wider benefit of the company.
- Our Role in the Solution - Our consultant was the programme manager and coordinated the input of information from capital markets experts and led the team's knowledge management specialists.
- The Outcome - A bespoke knowledge management system was developed which allowed business critical knowledge to be captured and shared. Active sharing and developing of know-how about its people and processes, its products and services and its clients ensured a faster response rate to market demands, faster work turnaround and higher quality offerings to clients.
- Achievements - We overcame the individual's natural reluctance to contribute information ('knowledge is power') by explaining that there were benefits for individuals, not just the bank. Once data was collated, it was made available in an agreed, standardised format for on-demand drawdown or for building into material in support of a future planned business event.
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