Technology

Creating sustainable assets for modern business is critical to have a competitive edge over competitors consistently. When you are operating in a saturated market like that of SaaS, this becomes even more critical.

A knowledge base for your SaaS business is any day, a potent growth-hacking asset. However, managing a knowledge base all by yourself is challenging. This is where knowledge base software comes in.

The software creates clear, concise, and engaging knowledge transfer and communications with all the stakeholders associated with your product. What follows is better retention and improves efficiency.

Still not convinced?

Let’s clear your mind.

In this post, we deep dive into the many benefits a knowledge base software brings to your SaaS organization in 2021.

4 benefits that a knowledge base software provides your business in 2021

A knowledge base software at its core strives to achieve one goal, drive growth. In a modern software company, a SaaS knowledge base might be termed as the most valuable asset.

It is a systematic framework that creates robust, consistent communication between all the stakeholders of a business organization. Be it your end-users or product developers and marketers; it creates room for everyone to achieve more with the product.

In doing so, it targets to improve multifarious areas in a business process. However, let’s find out how it benefits your SaaS business in 2021.

1.   Improves productivity

The most critical asset that your SaaS business can ever have is time. After all, time equals money. In a perfect scenario, you can count your team’s complete working hours to be productive. But the reality is far from being so.

Even if your teams are immune to distracting funny cat videos on the internet, staying focused is hard. With leaky communication and knowledge transfer pipelines, staying at the top of your game is immensely difficult.

A recent study revealed that an average employee spends nearly 20% of their working hours searching for support via their emails and other platforms like Slack. This is where a knowledge base software comes in.

Integrating this tool creates a single information kiosk for every team member of yours. Whatever is the problem, your team member has an answer in real-time and real quick. What follows is your organization’s experience skyrocketed productivity and team collaboration. The best part is it is sustainable and low cost.

However, if you are still unsure how it performs, we explain how.

a)     Declutters workspace

Creating a one-system knowledge kiosk for answering all the FAQs (frequently asked questions) a knowledge base software brings ready reference support for all your product development teams.

It removes all unnecessary communication systems and events that create redundant work, focusing on hyper-active problem-solving. What follows is a productive, efficient process.

b)    Shorter response time

The first benefit of real-time team assistance makes the product development process agile. Not only can your SaaS development team fix bugs and system errors faster, but you can find standard protocols for developing cleaner codes with the help of the knowledge base software.

c)     Improves quality

A knowledge base software is a great way to optimize the creativity and efficiency of your teams. By eliminating redundant conversations, it not only reduces the working hours of a team member but ensures that they do not undergo the biggest flaw of today’s work from home culture, the burnout.

This makes sure the overall quality of the product improves while your teams can achieve more in a lesser number of hours.

2. Establishes an agile business process

An agile business process is a critical requirement for any SaaS organization, be it a startup or enterprise.

Keeping your teams resilient to respond to your target audience’s changing behaviors and problems is the only way you survive the competitive landscape. But the problem is, it is easier said than done.

A knowledge base software makes a powerful tool to improve this situation. Keeping all your stakeholders inside the knowledge loop creates a unified system of dynamic content. Be it your development team or marketing and sales team, or end-users; everyone participates in the content generation process. What follows is a content creation process that is collaborative, relevant, and insightful to create creative and innovative products.

The best part is it’s a powerful tool for attaining product-market fit.

Here are a few ways that knowledge base software takes business agility to new levels.

a)     Improves employee management

Managing employees is one of the most critical and complex tasks of your business. Be it engagement or training, if your employees do not feel connected with your company, having high performance and productivity is just a wish.

Traditionally you can create this process via an HR (human resource) induction program. But with remote teams working globally, this method is immensely flawed and inefficient.

A knowledge base software creates a clutter-free medium for your hiring process. Not only is it a comfortable way to give your employees a virtual tour of your company values and mission, but they can get acquainted with the process before they start working.

The best part is they do not need any assistance to do so. Not from any HR, neither from senior team members. This improves productivity optimization and almost automates your hiring process.

b)    Designed for scalability

A growing business means a growing number of employees. But to reap the benefits of this human capital, proper knowledge transfer is critical.

A knowledge base software makes this look like a cakewalk. With dynamic content created by multiple users, you not only improve collaboration but reduce per capita workload.

The best part is unlike traditional models of collaboration, it is not limited to a few member interactions. It can be accessed by multiple users simultaneously.

This means no matter how many employees you onboard or how many team members need assistance; your knowledge base software can give them real-time support without dampening the experience.

c)     Improves comprehension of customer needs

Customers are the blood-pumping organ of your SaaS business. This makes keeping them at the center of your business operations is critical. If you fail to understand your customers’ core problems and pain points, chances are your business will fall flat sooner than you think.

A knowledge base software ensures that the brand-customer conversations go on. Allowing your customers and prospective leads to generate content in your knowledge base ensures you know when their behavior and priorities are changing. What follows is improved customer satisfaction and chances of developing a viral product.

3. Strengthens marketing communications

In a modern attention economy, where gaining a new customer is 5 times more expensive than retaining one, you cannot afford to lose them.

This makes staying at the top of your customer’s minds one of the critical marketing tasks. However, doing so is hard. While an omnichannel approach can help you reach your goals, it is expensive at the same time.

A knowledge base software is one of the most potent ways to connect with your customers intimately while keeping your costs low simultaneously. What follows is robust, comprehensive marketing communications.

a)     Boosts SEO

Optimizing your knowledge base and ensuring it is indexable by search engines ensures your customer acquisition is automated.

The best part is you can now rank for keywords related to your product and gain customers who are actively searching for a solution to problems that your product solves.

b)    Improves brand equity

Customer trust is one of the most critical yet challenging objectives of marketing. Creating a knowledge base to assist and empower your target audience with the information they are looking for instantly helps build trust and confidence. It helps to build a community.

The best part is it helps to boost brand equity that can be a critical competitive advantage for your business.

c)     Improves customer retention

Customer support is a critical growth metric for any SaaS business. Your customer’s overall product experience is heavily driven by the service they received post-sales.

A knowledge base software is your solution to delivering superior customer experience and assistance, fostering long-term relationships with your customers. But that is not all. It creates opportunities for relevant upsell and cross-sell. What follows is an influx in your sales.

4. Delivers superior customer experience

Customer experience is vital for the overall success of your product. But the problem is creating a superior customer experience is hard. You need to exceed customer’s expectations and create a delightful brand experience. The hardest part is it has to be achieved at scale.

A knowledge base software ensures that quality customer experience is deliverable at scale consistently.

a)     Provides end-to-end customer support

Creating a curated help desk ensures you have all the common questions and FAQ (frequently asked questions) of your users answered most engagingly.

If something is not covered, letting your online user community answer it for each other makes it more comprehensive.

b)    Provides real-time customer support

Having created a knowledge base is immensely beneficial for the real-time support of your customers. No matter how long the queue is or what time it is, they can find solutions to their problem whenever they want, wherever they want. Also, it optimizes your operations costs as you can operate with a smaller support team.

c)     Provides updated content

Creating a dynamic learning product kiosk with a knowledge base software ensures that your content is engaging, relevant, and updated.

Unlike traditional human support, where a new hire may not be aware of some facts about the product, a knowledge base does not suffer information constraints. It knows it all. This translates into best problem solving in real-time.

Conclusion

There is no doubt that a knowledge base software can bring recurring benefits to your business. Even if you had some inhibitions, the above benefits must have cleared them by now. But the real value of a knowledge base software is seen by shifting your mindset about this asset.

A knowledge base should be treated as a stakeholder learning kiosk. It is where all your community gets real-time, updated information about the products and services. Be it your product development team, marketing and sales team, or end-users and customers; everyone should get the answers to their burning questions.

If you follow this core principle of building a knowledge base, you will be on the path to reach the next level in your business.

So now, there is just one question to answer. When are you integrating this powerful growth-hacking tool?

Investors wanting to add fast-growing firms to their portfolios at favourable prices will benefit from the current sell-off in tech stocks. Several high-profile tech firms are currently on sale, including one that could lead you in capitalizing on the hot 5G trend.

Synaptics (NASDAQ: SYNA), arguably one of the best 5G stocks, is well-positioned to benefit from the spread of 5G networks and devices, as well as a number of additional growth opportunities. Furthermore, after a pullback at the end of April, the stock is currently trading at lower multiples.

Let’s take a look at why you should purchase this 5G stock right now.

Synaptics’ mobile business can rev up its engines once again

Despite market instability, Synaptics stock has been flying high in 2021, owing to the phenomenal development of its Internet of Things (IoT) division, which has kicked on the throttle in recent quarters. The mobile business’ contribution to Synaptics’ top line has dwindled in recent years, falling to only 25% of overall sales in fiscal Q3 from 54% the year before.

Synaptics’ mobile revenue fell to $81 million last quarter, down from $177 million the year before, a 54 percent drop. However, investors should keep in mind that the segment’s revenue was damaged by the sale of the mobile LCD (liquid-crystal display) TDDI (touch/display integration) business, which was finalized in April of last year. Synaptics’ quarterly revenue from that business was roughly $65 million.

Synaptics’ mobile business is poised for long-term development, therefore investors should be optimistic. Several smartphone OEMs (original equipment manufacturers) have awarded the business design victories for its OLED (organic light-emitting diode) touch controllers, including Apple for the iPhone 12.

Apple is one of Synaptics’ most important mobile clients, which is fortunate because the iPhone manufacturer is dominating the 5G smartphone industry. In the first quarter of 2021, Apple sold 40.4 million units of the all-OLED, 5G-enabled iPhone 12 range, accounting for 30% of total shipments. Apple’s excellent sales momentum can be maintained since millions of consumers are apparently waiting to upgrade to its upcoming 5G phones, sparking a multiyear upgrade cycle that would be beneficial to Synaptics.

Apple, on the other hand, is just one of several drivers for Synaptics’ mobile business. Synaptics recently announced that its second-generation OLED touch controllers are now in serial production, increasing the company’s technological edge over competitors. As a consequence, as CEO Michael Hurlston said on the company’s most recent earnings conference, they’re gaining momentum with prominent smartphone OEMs.

Things are going to get a whole lot better

Going by the midpoint of Synaptics’ forecast range, the company’s mobile business would produce $78 million in revenue this quarter, down about 35% from the previous quarter. As a result, this quarter’s year-over-year reduction in mobile revenue is likely to decelerate significantly. Once the new smartphone design wins go into production, and the impact of the now-divided LCD business fades away after this quarter, the firm should start putting on the pedal.

In a recent conference call with investors, CEO Michael Hurlston observed, “We’re sort of now at the bottom of our mobile revenue curve…from here, we will build.”

Building a pc is deceptively simple. Plus, in an increasingly digital age, learning computing skills can greatly benefit your future career prospects.

With more people learning coding skills now, getting ahead of the curve and involved with building computers is a smart move.

We look at four reasons why you should build your own computer.

It is Cost Effective

The cost of personal computers and laptops has become astonishingly high over the last decade. Even more so if you need a powerful computer for gaming. Building your own computer can dramatically reduce costs.

Starting with a computer kit such as a Raspberry Pi can help you create your computer for less money. In addition, starting with a kit will provide you with some of the essential hardware you need in one easy project.

It Facilitates Learning

Whether you already know how to code, or you are just starting on your digital development journey, building your own computer can greatly improve your skills and help facilitate your ongoing computing education.

Many computer kit companies such as OKdo run workshops or have video content to help you learn the skills you need to build a computer. If you are planning a career in software or computer development, learning these skills will be essential.

It gives you more Choice

When building your own computer, you will have complete ownership over which parts to use. With a store-bought computer system, you will not have the same level of choice and might end up with a computer that has parts not powerful enough to perform the way you want them to.

Choosing your own parts is all part of building a powerful computer that is tailor-made to your requirements. Which is ultimately the point of creating your own computer in the first place.

It allows you greater Control

When you buy a ready-made computer, you may need help from tech support to troubleshoot any problems that occur. When you build your own computer, you effectively become your own tech support.

As you know your computer inside out you will know how to tackle any issues or fix any faults that might pop up as you use your computer. If you have built the operating system your computer runs on as well, you will also be able to create and fix any updates easily should they happen.

Technology has completely changed most of our lives in recent years. Billions of people all around the globe have access to the web, and they use it for all different things. People rely on technology to work, socialize, communicate with others, play games, the list goes on. It is hard to imagine life without technology. 

Unfortunately, there are many downsides to the technology we use. One of the biggest issues internet users face is cybercrime. There are thousands of cybercriminals out there that are looking for new victims, and with many people working from remote locations since the outbreak of Covid-19, there has been a huge increase in the number of cyberattacks reported. 

Most of the time, hackers are looking to steal sensitive data. They are known to extort money from their victims, and to steal their identity. This can ruin a person’s life, and catching the culprits is often very difficult for authorities. Most of the time cybercriminals are located abroad, so there is very little local authorities can do to help. However, there are many things you can do to reduce the chances of becoming a victim.

Invest in a VPN Provider

Investing in a well-known, secure VPN service can boost your security settings. A VPN (Virtual Private Network) will mask your original IP address and replace it with a new one. Cybercriminals find it a lot harder to hack computers if the person is using a VPN. Without knowing their victim’s genuine IP address, gaining access to their computer is not going to be easy. 

There has been a huge increase in the number of people purchasing VPN services since the pandemic began. Because a lot of folks are working from home instead of in an office, it is not surprising that so many people have been wanting to increase their security. People worry about sending confidential files and folders through a network without having a VPN.

There are a lot of VPN providers looking for new customers, so you can really get good value for your money. Avoid running free VPN services. Although it might seem like a good idea to employ a free VPN, your genuine IP address is at risk of being leaked.

Use a Virtual Data Room

In the past, businesses all around the world used Physical Data Rooms to store sensitive files and folders. However, over the past couple of decades, Virtual Data Rooms (VDR) have become a popular alternative. 

A VDR is a highly secure repository on the web that allows users to store, review and edit sensitive files. It allows multiple users to store data, and administrators can set different permissions so they are in control of the data that is stored in the room. They can decide what documents are allowed to be edited, whether or not the users are allowed to “copy” and “paste” files if the users are allowed to take screenshots, and who is allowed to use the data room. 

Businesses have been employing this service for several years. Most business owners feel VDRs are more secure than Physical Data Room. Physical documents can get destroyed or damaged over time, and they are not as convenient as VDRs. An employee can access the VDR whenever, and wherever they want. They don’t have to physically go to the office to store or access files located in a VDR. For more information about Virtual Data Rooms, check out https://www.firmex.com/.  

Store your Files with an Encrypted Hard Drive

Encrypting your hard drives is another popular way to secure your sensitive data. There is a lot of software readily available online that allows you to do a Full Disk Encryption (FDE), which is one of the most popular encryption methods. Without using an FDE, cybercriminals will find it easy to access your files and folders stored on your drive. 

Consider buying an external hard drive, or flash drive to store highly secure data. They can be used for confidential files and you don’t have to have them connected to your computer all the time. Encrypting all your hard drives, internal and external drives will make it a lot harder for hackers to gain access. To access these drives, cybercriminals will have to show your password. 

A lot of people use smart devices to connect to the internet, and many assume that they are a lot safer than desktop computers or laptops, but cybercriminals attacking smart devices have been increasing in recent years. If you store sensitive data on a smart device, understand that you are vulnerable to becoming a victim of a cyber attack too. A lot of smart devices allow you to add a micro SD card. If you invest in a micro SD you can secure your private data by encrypting it with a highly secure password. 

Use a Strong Password

One of the easiest and one of the most effective ways of securing your sensitive data is by using strong passwords. If you want to improve your current passwords, follow these steps:

1. Do not use the same password twice: Have a different password for your email address, social networking profiles, your online bank account, etc. Although it’s easier to remember the same password, it puts your device and the files stored on your device at serious risk. 
2. When you are making your password, make sure nobody sees you: Avoid creating a new password in a public place. If someone looks over your shoulder, they will be able to access your account. 
3. Log off: Once you are finished using a device, don’t forget to log out of any accounts you have opened. If a person uses the device after you, they will be able to access the accounts you forgot to log out of. This can be extremely dangerous, especially if you are using a computer in a public area like a WiFi cafe.
4. Don’t tell anyone what your passwords are.
5. Change your password: People have the same email address for decades without changing their password. Consider creating a new password periodically, and don’t use the same password that you have used in the past. 
6. Consider using at least 8 different characters when creating a new password. Make it even harder for hackers to guess your password by using upper and lowercase letters. You can add symbols and numbers too. 
   1. Don’t create a password that is difficult to remember, but don’t use one that is easy to guess either. 

If you find it difficult to remember all your passwords, you can write it down to remind you. However, be careful where you store it. Avoid storing it near your computer or your smart devices. Instead, consider storing it in the back of an old photograph inside a frame. 

There are strength analyzers online that will tell you if the password you have chosen is strong or not. 

Conclusion

In 2021, there will be around thirty thousand websites attacked each day. The majority of businesses around the world have experienced at least one cyber attack. Last year, ransomware cases increased by one hundred and fifty percent. People around the globe have lost vast sums of money, their private files and folders, and their identity to these criminals. Avoid being complacent, and make sure your security settings have been updated.