Consider an office burdened with overflowing papers and files or a bank branch dependent on physical customer documentation. This situation raises several red flags – from reduced productivity and heightened risk of data breaches to potential security lapses, damage to brand reputation, and even loss of revenue. In today’s world, content is data, and data is the new currency.
While such scenarios are gradually becoming a vision of the past, effectively managing critical documents remains essential for any business and its internal departments. Today, digitising content is a standard practice for organisations across the globe. The way they manage this content—be it papers, files, documents, or other crucial data—has evolved significantly over the past few decades. For many years, organisations have adopted some form of digital content management. The rapid advancement of technology has given rise to Enterprise Content Management (ECM) solutions, which have undergone substantial evolution over time. The market has expanded as well, with research indicating a CAGR of over 10% to reach $78.4 billion in 2029 from $47.6 billion in 2024. Let’s take a look at this evolution.
Technology contributes to the evolution of ECM: Have all the benefits been realised?
Technology has played a significant role in the evolution of ECM solutions. In the early years, most content management solutions offered only data capture and storage services. Then newer technologies enabled content in different formats to be digitised on a single platform. Automation, optical character recognition (OCR), natural language programming (NLP) and other technologies made the capture, storage, retrieval, and categorisation of documents easier.
Evolving business requirements now compel ECM solutions to have a more holistic approach to all processes involving information and document management. The key goal of this modern approach is to enhance automation by leveraging cutting-edge technological advancements and integrating artificial intelligence (AI) into ECM solutions. Yet, research indicates that organisations are still lagging in adopting modern ECM solutions. Research by Forrester among 400+ content management professionals revealed that only 30% of businesses utilise AI-enabled automation to make a significant impact and extract valuable insights from content-related processes, while just over 50% have automated basic tasks involved in document creation. The research also revealed another interesting insight. The challenge lay in the availability of multiple tools, wherein nearly 50% decision makers were unable to integrate the tools and therefore, large part of their content remained in silos.
The need of the hour is a robust, technology enabled solution that is modern, user friendly, secure, and flexible solution that meets the ever increasing needs of content management.
What makes Writer Information’s InfoDocs® stand out as an ECM solution?
Writer Information’s InfoDocs® is a mobile-enabled, cloud-based Enterprise Content Management application designed to offer robust document storage, access control, centralised storage, audit trails, and efficient search and retrieval capabilities. Highly user friendly, the application is built with modern, open architectures. InfoDocs® provides flexibility in deployment, whether on-premise or through a SaaS model on any cloud platform.
It offers a centralised or distributed repository that stores both physical and electronic documents in digital format, enabling quick and efficient access to information. With a powerful full-text search tool, users can swiftly retrieve documents and even specific pages based on search criteria, including images. Document imaging enhances the capture of digital content, while indexing allows for easy retrieval using keywords. Additionally, intelligent automation and process workflows streamline document access for both internal and external staff.
Read more about InfoDocs® here.
The increasing significance of digital content is evident today. In the future, ECM solutions will form the cornerstone of organisational content strategies. Their success will be defined by seamless integration with other tools and software, powered by AI and emerging technologies. Data security will remain a crucial aspect of ECM solutions, requiring advanced access controls, encryption, and other security measures to ensure robust protection.
- Category: Cloud
- Date: 01-10-2024