Knowledge Management (KM) is getting competitive advantage. Development and sharing of knowledge increase innovative ability of employees. KM is the creation and application of new knowledge for achieving additional value. The process starts from individual level and then proceeds towards the organizational level. It is the continuous process of development and improvement. Earlier groupware was used as productive technology for communication among employees. Now KM has developed its position as a distinct discipline. KM creates the environment in the organization for the availability and dissemination of information. KM led the organizations to adopt the experience's insight. Organization facilitates the optimal use of KM. IT industry is knowledge-prone and its qualified and educated employees are their assets.This sector uses the technological aspect of the KM. IT industry uses the KM as a business strategy with main focus on technology and human resource management. For IT industry it is a techno-centric complex adaptive system. This paper presents the emerging trend of practicing KM in the IT industry in NCR. This is a new evolution towards service-oriented architecture to act in an even greater synchronicity.

Knowledge Management (KM) is the area of extraordinary growth in every organization. Each profession is differentiated on the basis of specialist knowledge and skills for a defined purpose. Information strategy in IT sector reflects the specific needs of organization.

Data, information and prior knowledge are the components of knowledge. Data has no meaning in itself, whereas information has its own significance because of a relational connection. It provides the answers to `Whom', `What', `When' and `Where'. Prior knowledge is the information to which a process has been applied. Bellinger et al. (1999) has defined the knowledge as the collection of information for a particular purpose, intended to be useful. It provides the answer to `How'. Knowledge is neither data nor information. It is related to both with different degrees of content.

Data, information and knowledge (Figure 1) have recursive relationship. These three are interdependent and can be differentiated on the basis of the arrangement of material in between them. Knowledge is an understanding that one gains with experience, observation and learning.

Knowledge is of two types: tacit and explicit. Tacit knowledge is the knowledge through personal experience whereas explicit knowledge is the knowledge from other's perspective that helps us to form our own judgments. Tacit knowledge cannot be communicated among professionals, whereas explicit knowledge can be articulated easily. Conversion to each type of knowledge is necessary to manage KM process in an organization. This is also a major challenge to the IT sector, where expert knowledge is carried out by individuals. Explicit knowledge is also known as formal knowledge and tacit knowledge as informal knowledge. The direct relationship between tacit and explicit knowledge has positive impact on businesses.

KM is different from Information Management (IM). IM is the use of information technologies to maintain database and other operation. KM is the analysis of knowledge which the employees form from available information. The main objective of organization KM is to plan and control the actions to enhance the sharing of knowledge. Employees are required to collect data and information.

Knowledge Management Journal, Service-oriented Architecture, Business Strategy,Formal Knowledge, Information Management, Information and Communication Technology, ICT, Quality Management, Corporate Executive Board, knowledge Sharing, Software Process Improvement, SPI, IT Organization.