In today’s competitive market, information is value. To comply with state and federal regulations, and to protect themselves and their assets, businesses and organizations must be able to effectively store, manage, and safeguard the personally identifiable information (PII) and confidential documents of their clients and employees. As well as company documents and information.
One of the major hurdles faced by businesses today is in effectively managing and controlling the rapidly growing amounts of information collected on a daily basis and being able to use it. Many have turned to Enterprise Content Management (ECM) to help them make more of their information.
What exactly is Enterprise Content Management (ECM)?
Enterprise Content Management is not a single type of technology or methodology. By definition, ECM is a broad category of systems, strategies and tools used in the capture, management, storage and delivery of information.
The Benefits of ECM:
- Increased productivity and efficiency: Research has shown professionals spend 50% of their time searching for information. Taking an average of 18 minutes to locate each document (Gartner). ECM stores information using metadata, allowing organizations to quickly find their information using keywords. This means less time spent searching.
- Better document accountability: 15% of all paper documents are misfiled or misplaced (Coopers and Lybrand). Storing documents using meta-tags makes it easy to track and organize information.
- Lower storage costs: ECM provides an alternative to paper document storage. This reduces the amount of storage space needed to store hard copies and eliminates the expenses required to manage the stored information long-term.
- Increased workflow efficiency: An effective ECM makes it possible to implement workflow management capabilities to ensure employees follow defined processes and execute them more efficiently. Additionally, ECM makes collaboration easier and more effective.
- Security: Having information in electronic format makes it easy to prevent insider theft. This eliminates the risk of fire or water damage. Stored information can be backed up and copied so information is never lost if there is a crash. Additionally, documents can be user and password protected to safeguard sensitive information from theft and breaches.
- Easy Compliance: With built-in content and process management capabilities, ECM makes it easy to track documents, processes and task. And ensures businesses remain compliant with company, state and federal regulations.
The Big Picture
As businesses and organizations continue to grow, so does the amount of information that must be collected, managed, and stored. Using ECM as part of a comprehensive information management strategy allows businesses to capture, manage, store, share, and deliver larger amounts of information in a more efficient and consistent manner. This makes it possible for businesses to scale larger, save money and continue growing.
Click the following link learn about how iCOR by M-Files, our dynamic Enterprise Content Management system, can help your business or organization grow. https://www.cor365.com/icor-m-filesShare