An integral attribute of a modern company in addition to a corporate website is a knowledge base. Knowledge bases allow significant reduction of operating expenses associated both with core and non-core activities of the company. This study aims at showing the potential for knowledge bases to be used as an IT tool for improvement of company efficiency and competitive advantage. Knowledge bases are considered to be used both for internal and external communication. There is also a focus on the approach to knowledge base design, in particular to data retrieval and customization.