December 1, 2022
Managing business data and content is a crucial backbone of any organization. Enterprise content management (ECM) solutions help businesses manage structured and unstructured data, including documents, web pages, and more.
ECM solutions help organizations drive higher levels of operational efficiency and improved decision-making by managing different types of business information assets. They provide the ability to define, capture, manage and deliver business content and information to a wide variety of users. The ECM market is expected to reach $15.82 billion by 2023, at a CAGR of 11.9 percent during the forecast period. The market's growth is mainly attributed to the increasing digitization of businesses across various sectors and the growing need for centralized content management across an organization.
To further understand how ECMs enable efficiency and better business processes, let's explore the 4 C's of enterprise content management systems.
Organizations can gain long-term benefits and value from enterprise content management (ECM) solutions regardless of what industry they operate in.
With an ECM system, businesses can move away from manual processes and data entry. Automating business content-related processes with ECM can help enterprises save on time and resources spent on tasks such as data entry, document retrieval, and version control. In addition, ECM solutions can help organizations better manage their information assets, leading to reduced storage costs. Overall, investing in an ECM solution can help businesses realize significant cost savings in the long run.
Adhering to industry regulations and standards is essential for any business. ECM solutions can help organizations meet compliance requirements by providing them with the necessary tools to securely manage and store business information.
For instance, ECM solutions can help businesses apply retention policies to business data, ensuring that information is only stored for the required duration. Features such as audit trails and document versioning, necessary to implement proper data governance protocols, can also be found in all ECM solutions on the market. Access controls to ensure only authorized user roles get access to sensitive data is another critical feature for compliance.
Have you ever thought about how much sensitive information a business has? With the confluence of Big Data, social media, smart devices, and always-on cloud platforms, organizations today continually capture an exponential amount of aggregated data, many of which contain sensitive personally identifiable information (PII) of their customers. Regulatory compliance, especially with privacy laws, is a recurring challenge that ECM systems can help with.
Nobody can predict when Acts of God will strike. Disasters, natural or otherwise, can and will happen at any time--even on a global scale, as evidenced by the recent pandemic. That's why having a robust business continuity plan (BCP) is essential for all businesses. Having an enterprise content management (ECM) system in place can help organizations maintain business continuity during times of disaster.
ECM solutions can help businesses securely store critical information and documents in the cloud or several locations on-prem, ensuring that they can be accessed from anywhere at any time. Being able to store business content and data in easily accessible data repositories and automating workflows can help keep businesses running, regardless of the circumstances.
While global organizations have been operating with distributed teams for decades, the COVID pandemic accelerated the further adoption of the distributed remote workforce for enterprises of all sizes. Today, organizations are more distributed than ever before, often across different time zones. The need for collaboration has never been higher.
ECM solutions provide the necessary tools for businesses to enable collaboration between employees, no matter where they are located. With features such as document management, workflows, and integration with line of business applications, ECM solutions make it easy for employees to work on projects together and share information seamlessly.
Enterprise content management (ECM) solutions are crucial to any organization. By automating business processes and providing the necessary tools for employees to collaborate, ECM systems help businesses improve efficiency and productivity.
Helix International has over 30 years of industry-leading track record and experience in implementing ECM solutions and migrating thousands of petabytes of data for Fortune 500 companies. With over 80+ ECM developers and data engineers across 7 global offices, Helix has the skills, expertise, and experience to execute any enterprise content management-related projects with a 100% project success rate.
Do you have a need to implement or migrate an ECM solution? Reach out to Helix International to get started on planning the right solutions!
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