Knowledge is the biggest strategic asset for enterprises today. Globally, enterprises spend billions of dollars on the development of strategies for identifying, developing, and applying knowledge assets to drive success within the company and for their customers. Identifying internal and external knowledge needs and solving those yields obvious and immediate results for organizations: reduced costs, elevated profitability, increased customer and employee satisfaction, and enhanced ability for organizations to scale up. Much of the interest in knowledge management comes from the problem of diffusing innovative practices within an organization.

Information technology, while critical for enabling the spread of information, cannot capture and store knowledge. Only people can do that. One of the key challenges of the knowledge-based economy is to foster innovation. The way to accomplish that goal is to build an infrastructure that is not dependent upon traditional hierarchies because they do not encourage the dissemination of knowledge.

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The Big How?

The goal of organizations in today's age should be to leverage Social Media, Collaboration Platforms and IT infrastructure services in a manner that they seamlessly capture tacit knowledge and have them available for employees and partners at the click of a button. Various IT tools can be used to capture knowledge and cloud enabled platforms can be utilized to host knowledge seamlessly across the enterprise. In today’s age of rapid engagement platforms, seamless availability of knowledge across platforms is a must, I like to call it "Just-in-Time" Knowledge.

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I have written about the exciting things we do in Knowledge Management space in the IT Managed Services world to generate millions of dollars in Customer Business Impact at Genpact. To Read More, go to http://www.genpact.com/home/blogs/bloginner?Title=Building+talent+in+the+age+of+increasing+automation