ECM: All about content management for businesses
The global market for enterprise content management (ECM) has been booming for the past several years. According to a prediction by Grand View Research, it will reach US$93 million by 2025.
Companies know that they need a content management tool for organizational and logistical purposes. They have to be able to easily find all of the information they’ve stored, and need access to it from various locations. All of this information, whether it be on paper or in digital format, is essential in selling their products and services, managing their business, as well as in developing a better relationship with their customers.
Here’s why enterprises are turning to ECM from among the range of tools and technologies available.
Why companies need an ECM tool
Businesses manage a huge number of documents and data on a daily basis. As proof, according to an IDC study, employees spend about two and a half hours per week searching for documents. So it is clear that using a tool to manage information will foster greater productivity. It means workers can save time but also:
- Avoids losing information: Having a tool to manage, organize and store all your useful information allows you to make it more accessible. You can automate archiving in digital format and set up an index system, for example, to make your information easy to retrieve. It will have a positive impact on the customer experience because all of the customer data is in one place—thus avoiding lengthy processing times and documents going astray. When managing transactional documents, it also simplifies debt resolution because all of the proof needed is directly and easily accessible.
- Ensures compliance with legislation: With ECM, businesses have more control of the data handled within their company, as well as the content and processing. Some companies are faced with strict rules when it comes to customer data. A content management tool increases your visibility and allows you to set up a secure process not only to store data, but to control access to it. Under the General Data Protection Regulation, this step is crucial in assuring users that their data is properly protected and in giving them access to it.
- Favours digitization: Document management tools allow you to digitize documents by capturing the data they contain. Digital documents can then be accessed from anywhere, at any time. You can sign electronically, which means you’ll save time and both you and your customers are guaranteed the information is safe. Furthermore, according to AIIM, signing a document is the number one reason why businesses still use paper. By digitizing this feature, businesses will also save on paper costs.
Benefits of ECM: not just productivity
ECM helps businesses become more efficient and productive by allowing them to create, capture, manage, store, index and share their data and documents. So they can take charge of each step of the document life cycle.
Yet in today’s digital, multichannel world, businesses need to go further. They need to think of both their incoming and outgoing data. In other words, it’s time to rethink customer communications: offer personalized content, let recipients choose how they want to communicate, and automate the sending of documents. By doing so, you’ll pave the way to a better user experience.
Some ECM-compatible technologies allow you to capture data before it leaves your system, and even before it’s printed. If you have the proper technology, you can do two things: manage data internally with ECM and manage distribution of the data, externally. If you would like to find out more about this tool, simply ask to speak to one of our advisors!