The major benefit of knowledge management is that information is easily shared between staff members, and that knowledge isn't lost if someone goes on vacation, gets sick, or leaves the company.
This can result in substantial savings to an organization's bottom line. People are easily brought up to speed, and valuable knowledge assets are never lost (which means that you don't lose time and money when people have to learn new information quickly).
Because ideas can be shared easily, knowledge management may also increase innovation and help create better customer relationships. And if the company has a global team, knowledge management can create a more powerful workforce when all of those different cultures are brought together to share assets.
Knowledge management gives staff members the knowledge they need to do their jobs better. This makes them more productive.