Best Enterprise Content Management - ECM Software in 2018

Information in the form of paper documents or unstructured information can be the cause of several bottlenecks for an organizational environment when it comes to processing, accessing or even storing this information. Consider a file which, let’s say contains information about origin finance. There is certainly a lot of information in the file that needs to be kept track of and even if one form goes missing, it would mean several roadblocks for the business not to mention the difficulties with audit and compliance.

What is Enterprise Content Management System?

At the core, an Enterprise Content Management Solutions (ECM) essentially manages all such information in a systematic and organized manner using a dynamic combination of strategies, methods and tools which help capture, manage, store, preserve and deliver information. It eliminates the dependence on paper documents, empowering the business to do better by enhancing the efficiency of its operations. It also reduces the risk of losing documents and facilitates audits. Using an ECM software, organizations can obtain more control over documents versions and revisions. It greatly enhances employee productivity, helps you keep track of all your business information, helps you to streamline business processes while providing the flexibility as per the needs of the organization. ECM system is basically an all-encompassing term for a wide range of capabilities and solutions.

Features of Enterprise Content Management Software

An ECM solutions must accomplish the following goals:

• Capture: The primary aim of investing in an ECM software is to eliminate paper documents. Hence, the most important feature is that it captures documents digitally. All the information needs to be captured using electronic forms that make the documents digital right from the start or by scanning the documents to convert them into the digital form. Some information can also be captured by automatically filing and categorizing them from servers or other locations.
• Store: All the documents critical to the business need to be filed in a digital repository by organising it appropriately in the infrastructure.
• Manage: The documents in the repository can be viewed at any time. If the user has access rights, the documents can also be edited. Users can also view document metadata and organize them into a flexible folder structure. The staff members automatically get alerted if the document requires attention for example, if signatures are required for LPOs, or for approval requests. Automation assigns a proper order to the document management.
• Preserve: Archival is easy and the documents are securely preserved until the time for destruction. The documents stay protected and preserved for all future needs of the organization. There is no fear of losing the documents as there are customised security settings. Access is also limited by user as needed, to prevent unauthorized modification. There is an audit trail for monitoring logins and logouts, password changes, document creation, modification and destruction.
• Deliver: Regardless of the device or location, the documents can always be retrieved. Documents can be easily found using a full text search, or by using specific words or phrases, metadata, entry names and annotations. There are also pre-set search options that allow you to search the document based on the date it was created or users who accessed it. Since the process is automated, documents can be routed to the right people at the right time.

Advantages of using Enterprise Content Management Solutions

ECM systems have obviously made tasks easier for the organizations that use them. Some of the benefits that it extends are:

1. Eliminates the need for paper documents
2. Ensures compliance with the record retention policy of the organization and also auditory and regulatory compliance
3. Makes finding documents easy and improves transparency
4. Reduces time, cost and complexity involved in document management
5. Offers automated processes
6. Enhances employee productivity by offering quick turn arounds when employees are answerable to requests from clients or auditors
7. Facilitates collaborative working by offering tools like messaging, emails, online meetings and whiteboards
8. Instant access enables better decision making
9. Deep integration enables flow of information
10. Offer additional security and helps maintain business continuity
11. Offer a good return of investment because of high process quality which also translates into better customer service

Disadvantages of using Enterprise Content Management Tools

There are hardly any disadvantages of ECM solutions. The only factor falling in the cons bracket could be the initial cost of investment. Additionally, the organization will also need to train the staff accordingly, else that could be a roadblock in the implementation. Upgrades might add a slight additional cost.

Points to keep in mind while buying Enterprise Content Management System

With several vendors in the market for ECM software, it is important to check for some points before purchasing an ECM tools:

1. The ECM software must come with a seamless Integration Suite which connects well with your line of business applications and offers optimal use of current assets.
2. At its core functionality, a good ECM system must offer a flexible taxonomy so that metadata of the stored content can be customised.
3. The ECM tools must enable digitization and storage of the documents in a compliant manner with multiple levels of administrative access.
4. Buy the ECM solutions from a reliable vendor who offers global tech support for training and troubleshooting.

ECM systems can be customised in accordance with the business requirement. If the organization needs it you can also look for optional features such as barcode recognition, Data Link, IE link, Secure Messaging, GIS and workflow.

Conclusion

With a flexible architecture, ECM software allow organisations to customise and help in areas of transactional content management, technology, strategy, document management, full text indexing etc. without interdependencies. It has become increasingly popular and important for the fact that it helps prevent financial frauds and data breach. It helps guide business decisions by offering effective management of content, and integrating it with business analytics. It streamlines organizational processes and helps them stay compliant. ECM solution has enabled true digital transformation in organizations by the ease of integration and support it offers for major enterprise applications like SAP, CRM, SalesForce etc. With growing information governance needs among the 21st century businesses, ECM tools can hardly be neglected.