Every business is looking for ways to increase its productivity and efficiency. But there is an easy way to ensure all these; it is with Enterprise Content Management System. The process is especially beneficial for those businesses that engage in manual processing and maintenance of data. As a result, it will boost the business’ profit margin and enable the company to reach its goal.
Businesses are now looking towards deploying ECM for better management and enhanced operation. It was forecasted that by 2020 the worth of ECM would be $11 billion after a growth of 16% CAGR. The reason that ECM is becoming popular among business owners is multiple.
Benefits of ECM
A Protected Digital Repository
All business data needs to be protected and stored in a manner that can assist you in running the enterprise smoothly. Digitizing the documents is one of the primary ways to ensure that all your documents are safe and secure in a digital library. It also warrants the minimizing of paper usage and the anarchy of managing and storing physical documents.
A Centralized Digital Library
Often companies maintain their records, data, and documents in multiple locations and formats, ranging from paper-based document storage to online platforms. But having numerous storage facilities can always pose a threat, like a security breach, loss of information, duplication, etc. On the other hand, a centralized digital library offered by ECM is robustly secured and makes it easier to find the documents in a single place. In addition, the process is time and cost-effective and enhances team collaboration of the enterprise.
Secured Data Warranty
Optimizing the records and data is of utmost importance for any enterprise. An effective Enterprise Content Management System is capable of providing just that. Moreover, it also ensures protection against cyberattacks and hacking, thus keeping the business secrets, confidential data, and client information safe. An ECM is also capable of staying up-t-date with the IT and business compliance rules.
Efficient Retrieval of Documents
With ECM, you can look for any content or document stored in the library with the help of meta-tags, metadata, specific phrases, keywords, or creation date.
ECM offers you an automated document-driven process. This feature allows your employees to utilize their time efficiently since the manual tasks are done with a computerized process, thus reducing the overall running cost of the business too.
Records indicate that after deploying the ECM system into the business processes, there is an impressive spike in the performance and engagement of the employees, which was about 18%. While the above-mentioned are benefits of ECM, many businesses are using the system as an effective solution.
ECM 2021 Trends
With more businesses deploying ECM systems, new trends are developing for 2021, and anyone who intends to integrate it into their enterprise needs to be aware of these trends.
Customizing ECM System
You can easily cater to your customers’ needs and goals by customizing the user interface of the ECM. This customization process allows you to streamline the functionalities, features, and workflow, thus providing enhanced solutions and services to your employees. It also allows the employees and customers to have a better experience while enjoying enhanced system control.
Free Flow of Data
With ECM, you can create a culture of freely accessing employee data relevant to their work. By organizing and reforming the data system with the help of ECM, it can be accessed across all the levels of the enterprise by employees who have permission.
ECM system is upgraded with data encryption, warranting enhanced security for your business. Additionally, it is also up-to-date with the business compliance and regulatory requirements, thus earning no lapse during the yearly compliance audits and no security breach.
AI and ML Backed System
ECM system is integrated with Artificial Intelligence (AI) and Machine Learning (ML), so businesses can perform better. This intelligence support, however, is not limited to multinational organizations. With ECM, SMEs too can utilize the benefits of these latest technologies to streamline the workflow and business process while servicing their customers better.
Robotic Process Automation
One of the modern technologies integrated into ECM is Robotic Process Automation. Automation is immensely beneficial for the monotonous, structured, rule-based business requirements, which often eat up the employees’ time. The robotic process automation can easily take care of the back-end processes with the help of the bots. These tools enable employees to focus on the core issues of the business. Robotic Process Automation can also handle workflows that consist of different technologies to create a single process.
Scalability and flexibility are the two core components of any business’s digital transformation. ECM system is competent in providing any business with improved scalability; hence irrespective of the business’ growth, you do not have to intervene in its everyday operation.
Enterprise Content Management (ECM) is one of the fastest-growing systems integrated into organizations eager to undergo digital transformation. The system warrants quite a lot of benefits and helps in tacking some of the vital issues like security of data, organizing them, and tacking them efficiently.
Mohd Sohel Ather is a software engineer by profession. Sohel loves writing and enjoys sharing his ideas on application development and other types of programming. He also likes to keep up with the latest technology trends in the World Wide Web.