NEWS Global research company, IDC, is claiming America's top 500 companies are set to lose $12bn due to inefficient knowledge management this year. The company used America's Fortune 500 to estimate the figure and predicts it could rise to £31bn by 2003. It also expects spending on knowledge management software and services to rocket from $2bn this year to over $12bn in 2003. Gerry Murray, research director at IDC, believes that companies are waking up to the reality that sound knowledge management is vital for survival in the information age.
Lack of knowledge management costs US firms $12bn
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