In today’s business environment, many organizations are facing increasing pressure to improve financial performance of their enterprise content management (ECM) systems. But what is an ECM strategy’s true impact on a business’s bottom line? Well, there may be several layers to this question, so let’s start by looking at the costs incurred by not having a strategic approach to ECM.
Many organizations operate through rather un-strategic ECM infrastructures that suffer from two critical issues: silos and redundancy. Stemming from an outdated approach to ECM, legacy systems often lead to outrageous maintenance costs. You might also see operational inefficiencies rooted in archaic architecture that limit the ability to access and leverage information. If a user has to spend time on figuring out where he or she needs to go to reach a certain piece of information (as opposed to providing a central conduit to everything), they’ll have to do so at the expense of productivity.
Many companies are enduring the impact of inefficient ECM solutions and processes. The problem we often come across is that organizations don’t truly understand which platform to choose for the job. With many of our customers, we see a blended ECM landscape as perhaps the most strategic solution – allowing organization to use the systems that are best suited for the tasks at hand. Unfortunately, not all organizations realize this is a possibility.
Ultimately, operational efficiency will have residual (positive) impact on other functions like compliance and audits. From a compliance standpoint, access is a truly critical issue since requests often require gathering and delivering large samples of information. Today, many of those are in disparate systems.
Moreover, consider the reduction of audit costs by eliminating manual sampling and minimizing the time it takes to gather documentation. When these controls are automated, compliance professionals and auditors can test the controls – which is far less labor intensive – to improve overall operational efficiency. What we’re seeing here at Systemware is that moving to our Content Cloud allows customers to easily reduce operations from weeks to hours. This way, they’re able to deliver information to an auditor much more quickly, and this holds immense opportunity for increasing productivity and lowering cost.
At the end of the day, an effective ECM strategy should streamline business operations. ECM has historically been reactive – a “set-it-and-forget-it” technology that doesn’t allow organizations to effectively leverage their most valuable asset: information. Modern business environments, however, require ECM to be more strategic. If you’re able to align your ECM strategy with your business goals, allow for flexibility, and make your evaluations iterative, you’ll see a significant impact on the bottom line.
To learn how an ECM strategy can help your organization, download our latest white paper now!