Money Insider

6 Reasons Why CIO’s Need a Personal Knowledgebase

Knowledge base (KB)

Chief information officers play an important role within a company, as they are responsible for quite a lot of things. To improve their task management, it is essential for every good CIO to establish their personal knowledge base. Relying on one simply streamlines the variety of processes that a CIO regularly takes care of.

By using a knowledge base, a CIO can easily manage budgets, IT asset management, employee acquisition, team organization, long term planning and  get a better insight into the collaboration processes. Let’s take a look at how each of these processes are made better with a knowledge base.

  1. Budgeting made easier

    Project budgets are very important in both small and big companies. It is important to foresee any possible problems that might come up, predict the right time needed to complete the project without going over the limited budget. This is all the responsibility of a CIO who needs to find a way to meet all of these demands in the most efficient way possible.

    With the utilization of a knowledge base, the CIO can store all the important information about past projects, from which he or she can make easier predictions about meeting deadlines. All of this is important for lowering project expenses, which can save millions of dollars for big teams.

  2. IT asset management

    CIOs are also directly responsible for the whole IT sector. In these departments, there are plenty of hardware and software solutions used daily by the IT team members. Knowledge base is perfect for managing expiration dates for both hardware and software tools. This helps with leading a project to a stop, due to unforeseen circumstances.

    This part of work is very important as businesses are always looking for ways to keep their workflow unhindered. In the long run, IT asset management saves a great amount of money for businesses, especially nowadays when these are the main tools in various business industries.

  3. New employee acquisition

    Handpicking the perfect job candidates requires a lot of time. However, with a knowledge base, the CIO can simply acquire reports from the HR department. This puts the CIO in a position to easily make the right choices when hiring new employees.

    This is very important, because hiring the right people is a good way to grow your business steadily, without experiencing any major problems. With a knowledge base, a CIO can track stats of the new employees and how well each of them are improving in their workplace. Additionally, monitoring whole teams becomes much easier, which leads us to the following point.

  4. Workforce management

    Managing the workforce is a task that was particularly hard to achieve only ten years ago. However, CIOs are now in a position to follow every single step that every employee takes. This is made possible by relying on project management software solutions, which in combination with a knowledge base portray the perfect image of every employee’s journey.

    After only a project or two, the CIO has all the important information about every single employee. This is very important for future project task management, as some team members can handle particular tasks better. This puts the CIO in a position to hand pick some people for the most effective, yet, efficient team to handle the most challenging projects and meet the deadlines.

    Additionally, collecting valuable data in the knowledge base will show the CIO who the top notch team workers are, and when the time for promotion comes, the CIO will have a clear image about who deserves to climb the company’s success ladder.

    With the utilization of a personal knowledge base, the CIO has access to all the important information about a team’s qualities, making it possible to establish a seamless workflow within a company in a much easier and more straightforward way.

  5. Improved long-term planning

    Short term plans are important for every company, but that is the problem that project managers usually deal with. CIOs are in a position to think about various things that the company needs to go through. However, making future proof plans requires collection of immense amount of data. A knowledge base is perfect because it is scalable and CIOs can use it to collect all sorts of important financial reports and other similar important data.

    By relying on the collected data, the CIO can choose the best time for the company to expand. For example, having an overview of the company’s financial status for the entire year, the CIO can easily deduce which periods of the year are more profitable and which periods are better for saving money, avoiding any new investments and expansion. All of this information can easily be stored in a knowledge base, making it easier for the CIO to create long-term plans.

    Once the company has a long-term plan, the CIO can use the knowledge base to monitor and record the progress a company is making over the years, and whether everything is being invested in making that goal come true.

  6. More control over collaboration

    No matter how big a business grows, constantly employing people for different in-house departments is not the best way of running a business. For example, an online marketing department requires a data refresh around 3 or 4 times per year, and this process can be easily outsourced to another company. It is a much easier way of getting that task finished, without wasting too much resources and time.

    A knowledge base provides a great insight into how well the collaboration is going, and the CIO has more control over the outsourced project, as he or she can more easily share the important data and instructions with the company that the business task is being outsourced to. This can save a great deal of time for a company and reduce financial expenses, leaving more profits for the company and enabling it to make smarter future investments.

    These are the six most important reasons why a CIO should utilize a knowledge base. Improving the workflow in a company is very important, and CIOs with a personal knowledge base are in a much better position to improve it, as they have access to various types of important data.

Have you read?

  1. How to Encourage Employees to Contribute to a Knowledge Sharing System?
  2. How Knowledge Bases Can Help Companies Boost Performance And Productivity
  3. How Entrepreneurs Can Succeed at Work without Wrecking Their Marriage


Robin Singh

Robin SinghVerified account

Technical support executive at ProProfs
Robin is a technical support executive with a combined experience of 6 years. He is well acquainted with various Knowledge base tools and is currently associated with ProProfs. In his free time, Robin enjoys reading and traveling.
Robin Singh

Leave a Reply