Today, most of the organizations are in the process of re-engineering, restructuring and retrenching. With an increase in the lay-offs, workflow attrition and rapid turnovers, the problem of information exchange is compounded. Also, when employees leave, they take valuable intangible corporate assets with them in terms of tacit knowledge. These intellectual resources need to be captured and capitalized on for the use by other employees.

Employees are the main assets of an organization—they possess a wealth of expertise, ideas and latent insights into the business operations. Most employees do not share this wealth of experience with their colleagues and peers due to the lack of a common standardized platform within the organization. For organizations that have multiple anches across cities and countries, the lack of efficient cross-interaction leads to a great loss of intellectual resources. This is true for all sizes and types of organizations. But, as the organizations grow larger, the need for capitalizing employee knowledge increases, as business complexity and reach diversifies.

If collaboration is encouraged them the companies can ing together expertise of their employees and managers. Knowledge Management is defined by Anderson consulting as "Knowledge Management is the systematic process of acquiring, creating, capturing, synthesizing, learning and using information, insights and experiences to enable performance. It is the engine that transforms ideas into business values."

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