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August 31, 2023

SBS Bank simplifies complexity & improves productivity with KnowledgeIQ

SBS Bank simplifies complexity & improves productivity with KnowledgeIQ

This case study explains how SBS Bank adopted the Knosys’ KnowledgeIQ software solution as an enterprise-wide intranet to support the strategic goal of improving processes and efficiency. SBS Bank employees can now be confident that the information they find through KnowledgeIQ is current, relevant and trustworthy.

SBS Bank determined significant difficulties existed in dealing with complexity and supporting good productivity as employees were unable to locate, access and trust the information required to efficiently complete jobs. The Simplification and Productivity team conducted internal surveys identifying three root causes:

  1. The existing internal knowledge system made searching and locating information challenging.
  2. Information was often not documented, unreliable or out of date; and
  3. Information, when found, was often complex and difficult for staff to understand.

In addition, there was inadequate governance in place to ensure knowledge was captured and maintained, and no platform existed where information could be recorded, efficiently managed and easily accessed.

SBS Bank set out to find a knowledge management platform that met the following requirements:

  • An organisation-wide solution
  • Provide a simple way to capture, update and share knowledge
  • Allow employees to easily search for information
  • Ensure information was current, reliable and could be trusted

SBS Bank selected KnowledgeIQ as the best solution to meet their expanding needs, focusing on three of KnowledgeIQ’s key strengths: (1) usability, to ensure all teams can find what they’re looking for quickly; (2) content storage to allow all SBS Bank’s content to reside within the repository; and (3) governance, so that employees can trust the information that is presented to them.

Smart Search, KnowledgeIQ’s unique search feature provides SBS Bank’s teams with a quick and reliable way to find the knowledge they need; whether they are providing service to a member or working in a back-office team.

KnowledgeIQ’s knowledge management capability allows SBS Bank to upload existing policies and procedures as well as create highly dynamic content directly within the platform.

KnowledgeIQ’s Living Content brings SBS Bank’s content to life, with a suite of governance tools to manage the knowledge lifecycle. SBS Bank employees can be confident that the information they find through KnowledgeIQ is relevant to them and their team and it can be trusted.

Stuart McKinnon, Manager of Simplification and Productivity, SBS Bank

KnowledgeIQ is designed to be easy to use, both for staff creating and managing information and those who need to use it every day. Before the implementation of KnowledgeIQ, 94% of staff reported experiencing problems when trying to find the knowledge they needed for their day to day. Following the implementation of KnowledgeIQ, 75% of those same users reported very or extremely satisfied, with an additional 24% somewhat satisfied.

Content creation and management is now overseen by the Simplification and Productivity team, utilising the knowledge of subject matter experts to create the content thanks to KnowledgeIQ’s simple content creation and management capabilities.

KnowledgeIQ puts the tools to produce content in the hands of the people who know, backed by a team creating standards and templates to ensure consistency and governance. This change in knowledge management practice at SBS Bank has helped to ensure knowledge is now retained and can be found by those who need it when they need it.

With the introduction of KnowledgeIQ into the organisation, SBS Bank now has a platform that can serve as both an intelligent corporate intranet and a knowledge management system.

Knowledge articles are created once then shared to anyone who requires access which eliminates duplication and creates a centralised point of truth. Access to knowledge articles are based on a user’s team and business unit, which ensures that the right SBS Bank employees have access to the right content. Whether working in the call centre, administrative offices, or in a branch, SBS Bank employees are provided with a reliable source of information through KnowledgeIQ.

Structured governance and compliance capabilities in KnowledgeIQ has assisted in fostering trust in the information stored on the platform; users know that the information available to them is of the highest quality, and that when updates are made to the content it can be brought to their attention via the internal alert system.

A successful enterprise software deployment hinges on the right strategic fit. Knosys recognise that capturing, maintaining and sharing organisational knowledge is a strategic priority for many organisations. This approach is enabled by KnowledgeIQ, a software platform designed to operate across the entirety of an enterprise with the goal of enhancing knowledge management practices.

Knosys actively worked with SBS Bank to train employees and roll-out KnowledgeIQ which, thanks to SBS Bank’s commitment and hard work, was deployed to the entire bank in just eight weeks.

Looking to the future, specific, secured information stored in KnowledgeIQ can feed SBS Bank’s digital channels, which will ensure clear and consistent information is provided to their customers in the future. Thanks to the solid foundation provided by KnowledgeIQ, SBS Bank are moving forward with the tools and confidence to make banking easier for their staff and customers.

John Thompson, Knosys CEO

SBS Bank is a customer-owned bank, that has been providing financial solutions for over 150 years.

Strategic Goal: SBS Bank set out in 2017 with a key strategic goal of improving processes and efficiency through their internal Simplification and Productivity Team.

Simplification and Productivity Strategic Objective: Lead and support a culture of simplification and improvement to make banking simpler for both staff and customers.

Customer Size: 350 employees
Country/Region: New Zealand
Industry: Banking & Financial Services

Want to find out more about how KnowledgeIQ can help you capture and retain your organisation's knowledge? Contact us and one of our experienced team members will be in touch.

Article written by Steph S

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