What Smart Businesses Know About Avoiding Duplication
Imagine launching a project that takes months, only to realize another team in your company had already done something similar—but the knowledge never reached you. The result? Wasted time, money, and effort.
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This isn’t just an inconvenience; it’s a widespread challenge. According to McKinsey, employees spend up to 20% of their time searching for information instead of doing meaningful work—that’s an entire workday lost every week. Another Forbes study found that organizations lose millions annually due to duplicated efforts and redundant research, leading to delays, inefficiencies, and missed opportunities.
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Large enterprises like Tata and GMR don’t leave success to chance. They systematise knowledge transfer, ensuring teams build on past insights rather than starting from scratch. But how can businesses of any size apply these strategies?
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In this edition of BHyve Buzz Box, we explore how smart companies stop duplication in their tracks and how you can, too.
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?? Upcoming Webinar: Scaling Knowledge with AI
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Join us on 25th Feb 2025 at 2:30 PM IST for an exclusive 45-minute webinar on how AI is transforming knowledge management in large enterprises and scaling best practices across teams.
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?Key Discussion Points:
1?? The Cost of Reinventing the Wheel – How repeat work impacts efficiency, costs, and innovation.
2?? Lessons from GMR & Tata – How AI is helping large enterprises capture, retrieve, and scale knowledge across teams and locations.
3?? AI for Smaller Businesses – Practical steps to build a knowledge-driven culture and drive efficiency.
Leverage Existing Expertise and Experiences for Maximum Impact
Instead of reinventing the wheel, organisations must leverage existing expertise to reduce inefficiencies, cut costs, and accelerate innovation. Companies like Toyota and NASA have mastered centralised knowledge-sharing, ensuring past learnings prevent repeat mistakes and enhance decision-making.
Insights From Buzzbox Live: Webinar 1
Our first Buzzbox Live explored the ROI of Knowledge Management with insights from Vikas Bhatia, highlighting how knowledge duplication and inefficiencies waste resources—and how to fix them.
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Key Learnings from the Webinar:
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? Centralized Knowledge: Ensures accessibility for all, not just a few.
? Proven ROI: Rieco achieved 100% ROI with BHyve.
? Faster Decisions: Quick access to knowledge enables smarter choices.
? Accelerated Onboarding: KM tools help new hires ramp up faster.
? Leadership Matters: KM's success starts with leadership-driven adoption
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?Curious about how much time and money your organisation could be saving? Try the BHyve Savings Calculator to estimate the impact of better knowledge management in your workplace.
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??? Missed the session? Watch the recap here and start unlocking your team’s full potential!?
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?Are you curious to know how BHyve can deliver the same for your organisation??Schedule 20 minutes with us If you’d like to learn more about how knowledge-sharing initiatives can save your employees 25% of work time.