Transfer of knowledge can be the difference between winning and losing in terms of judicious use of resources. This is directly related to cost and profits. Communication coupled with transfer, record and sharing of knowledge is key to succeeding against competition. Imagine how large global enterprises with branches around several cities in the world manage to sustain this knowledge transfer.

Thanks to digitization and cloud storage, today it’s possible for multinational companies, enterprises and small and medium businesses to store and transfer knowledge efficiently. A healthy trend that’s a gift of Internet is social network collaborations within companies.

There are many interesting and effective collaboration tools available for communication that are turning businesses into social enterprises. Now socializing and empathizing are not limited to weekend office parties, get-togethers and excursions. It’s now become a day-to-day part of the office life that allows employees to interact in real time and share knowledge.

Achieving goals socially

Collaboration tools allow communication ways such as instant notifications, news feeds, chat facilities etc. This adds to accountability and increases a sense of competition among employees. It also brings about a lot of fun into the working thus creating a healthy environment. The reason why more than 80% companies in the West have turned to social collaboration tools is that they are able to measure performances more realistically and channelize efficiency among employees. This kind of platforms helps the top level management bridge the hierarchical gaps and communicate business goals effectively. When everyone knows the target, each individual is able to contribute positively in achieving it.

Knowledge transfer leads to sustaining clients

Collaboration tools today have enabled businesses to rely less on people and more on systems. This kind of an arrangement doesn’t affect sales and business goals even when people leave. The sustenance of knowledge allows new employees to follow up on leads and retain old clients.