Searchable Knowledgebase – Cool Tech Delivers Hot Savings
By Ken Shapiro, President of AskIt Systems, a leading provider of searchable Q&A knowledgebase technology.
Does your company employ only one person to consolidate and give out customer addresses and phone numbers? Probably not. Different departments need access to that sort of data all the time. Just as contact management software improved the manner in which we store and use customer data, the searchable knowledgebase revolutionizes the way we consolidate, access and dispense complex information.
What is a knowledgebase? As it sounds, a knowledgebase is a database of knowledge. A searchable knowledgebase couples with online, natural language technology to consolidate and structure large amounts of information in a question and answer format. Here is how a searchable knowledgebase works: site users type a question into a box and instantly receive answers without live help. If the searchable knowledgebase does not find a match, then the question goes to an assigned company administrator who inputs the answer to the system so that the information can be used in the future. As more people use the system it becomes more efficient at delivering relevant answers.
The most common use of a searchable knowledgebase is as a customer support tool on a company’s Web site. Traditionally, companies have static frequently asked questions and answers within their Web sites, usually under the “Help” tab. Frustrated by involved searches, customers often by-pass the FAQ’s, looking for the nearest phone number or, even worse, simply leave. The searchable knowledgebase corrects this problem by offering a truly supportive tool that allows customers to type in their questions and get immediate answers.
The searchable knowledgebase is not just for customer service anymore. Below are some exciting ways that companies are taking advantage of this technology:
IT/Help Desk:Across all these applications, the benefits of a searchable knowledgebase are immediate and vast. The most obvious benefit is the reduction of inbound emails and phone calls. Reducing the number of calls or emails your company’s support reps have to answer allots time to solve more complex problems. The most tangible benefit to reducing support traffic is cost savings. According to Forrester Research, an inbound phone inquiry costs $32.00 and a knowledgebase interaction $1.17. That’s a 96% savings per satisfied customer.
Most importantly, a searchable knowledgebase can help your company retain customers and employees by giving them the information they need immediately. This empowerment not only keeps both customers and employees happy, but also helps increase your company’s bottom line. According to a Harvard Business Review article, the lowering of customer attrition by 10-20% will increase profitability by 50%. Now that’s smart. But, of course, you could still just use a person.
About AskIt SystemsAskIt's solution allows companies to cost-effectively: reduce inbound emails and customer support costs up to 80%; increase customer service levels by offering 24x7 automated support; and gain valuable insight into their businesses. The AskIt System's functionality includes: self-help; inbound and outbound email management tools and integration with live-chat. AskIt's customers include leading companies such as BankOne, Citibank and Compaq, as well as major retailers such as Ritz Camera and BabyUniverse.com. AskIt is a privately held company and is headquartered in New York. For additional information, contact info@askit.com or call (212) 414-9590.