What is Enterprise Content Management (ECM)?
Enterprise Content Management (ECM) has become a key imperative for most organizations. It has become the formalized means through which organizations manage documents as well as content in other forms. It is a mix of strategies, methods and tools used by modern day businesses to manage the complete life-cycle of enterprise level content and information. Business leaders and managers witness ECM as an effective means to cater to chaos which enterprise content can create when managed without a well thought out strategy. Enterprise Content Management has in today’s time, become synonymous to applications or software platforms used by organizations to bring about effective management of enterprise level information and content. Enterprise Content Management platforms are extensively used as part of an organization’s ECM strategies.
An Enterprise Content Management Software helps organizations create, capture, manage and make sense of this information. It is a broad and deep platform that helps manage content by creating a content life-cycle and subsequently managing it.
ECM solution provide organizations the flexibility to manage both structured (data existing or captured in LOB systems such as CRM, ERP or Sales databases.) as well as unstructured data including documents, spread sheets and other e-files and documents.
Types of Enterprise Content Management (ECM)
Enterprise Content Management (ECM) can broadly be classified into three types: Web Content Management, Collaborative Content Management and Transactional Content Management.
Web Content Management
An Enterprise Content Management (ECM) Strategy and application which helps organizations which maintain content rich websites for brand communications and consistency. Such a system will help managers maintain consistent user interface and the ability to create and publish content online.
Transactional Content Management
Transactional Content Management is well suited for organizations which need to manage information originating through physical documents. In most cases the amount of physical documentation is substantial.
What to look for in an ideal Enterprise Content Management (ECM) Platform?
An ECM application makes adherence to regulatory statutes easy. It ensures that the right information is captured, tied to the relevant process, managed and delivered.
ECM platfroms bring down costs associated with physical and manual handling of information. Costs related to damage or loss of data can be eradicated. Information is available on demand curtailing the opportunity cost spent otherwise for locating and accessing relevant information.
Increase Process Efficiency
ECM applications speed up processes by digitizing and streamlining content. Through-put times are brought down with automation of manual procedures.
Enhance Employee Productivity
Employee productivity can greatly be improved with the help of ECM. Employees can be redirected them from low value tasks such as transferring physical documents or manual hand-offs to high value strategic tasks.
Reduce Paper Woes
ECM platforms reduce paper woes digitizing content and information arising in physical documents. Collecting, organizing and indexing data becomes easy and information is available on demand and across multiple locations.
Organizations can leverage ECM to drive up profitability. ECM platforms bring down costs associated with physical storage of documents. By improving SLA adherence costs associated with penalties can be avoided. ECM platforms can enhance the ROI on spends on complementary IT investments like ERPs or specific LOB systems.