Why Ecm Is A Must-have

Staying Afloat during an Economic Downturn: Why ECM is a “Must-Have” By James Thumma, VP of Sales and Marketing, Optical Image Technology (This article originally appeared in a November 2008 publication of ECM Connection) As difficult as it may be to admit it, the signs of economic decline are all around us. Financial markets are spiraling, credit is difficult to obtain, customer spending is down, and businesses and consumers alike are altering buying habits. You have to find ways to cut costs. Ideally, this involves finding ways to increase sales while decreasing overhead expenditures. Unfortunately, for many organizations, costcutting often takes the form of layoffs and other drastic measures. To remain profitable and competitive during difficult economic times, it is wise to reevaluate your processing abilities. Are your operations running at peak efficiency? It may seem counterintuitive to consider implementing enterprise content management (ECM) software at a time when logic dictates that you rein in your spending. However, by investing in high-performance ECM software now, you can position yourself with the tools that you need to thrive during uncertain financial times. Initiatives that you take during lean times will leave you poised to surpass your competition when the economic picture turns. Process your work more efficiently

The obvious step in increasing efficiency throughout your enterprise is a transition from paper processes to electronic. Paper is scanned, indexed for easy retrieval, and stored in an electronic repository along with JPEGs, audio files, electronic forms, and other electronic media. Undoubtedly, a simple conversion from paper to electronic processes will result in improved efficiency. However, to get the most bang for your buck, look beyond your immediate gains and take your business processes to the next level. Prior to your conversion, analyze your business processes. You may be enticed by the initial improvements that you receive with electronic access, but don’t assume that your work is finished at this point. The real payoffs are associated with business process management (BPM). Enlist the help of a It may seem counterintuitive to consider implementing enterprise professional if you need to—even when finances are tight, an content management (ECM) software investment in process analysis will pay huge dividends down at a time when logic dictates that the line. you rein in your spending. However, by investing in high-performance ECM software now, you can position yourself with the tools that you need to thrive during uncertain financial times. Initiatives that you take during lean times will leave you poised to surpass your competition when the economic picture turns.

High performance ECM software offers the flexibility and extensibility to integrate with your existing software systems (administrative, customer service, student information system, accounting, billing, etc.). It will even allow you to access and use information that is currently stored in legacy or proprietary systems. A process analyst can examine your existing software infrastructure, and can help you design blueprints that ensure a smooth flow of information.

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Automation and BPM are the tools that will revolutionize your processing abilities. BPM allows you to electronically route your documents behind the scenes, delivering them to the right person at the right time for processing. When you are unencumbered by the constraints that are associated with paper, your productivity is unlimited. A Web-based system ensures that authorized staff can access information remotely, from any browser. Satellite offices, remote workers, branch campuses, agents in the field—all authorized users will have immediate, secure access to your document repository. An ECM system will allow you to transform your organization regardless of the uncertainty of the economic climate. Improve your compliance measures

An investment in ECM can help you avoid compliance penalties, which are becoming more stringent with each passing year. A transition to electronic processes—by definition— demonstrates an effort to improve privacy, security, and accountability measures. When you have ECM software in place, you are able to produce information upon request without having to conduct exhaustive searches. In addition to simplifying potential eDiscovery requests, this ability also significantly minimizes costs related to regulatory audits. Prior to your conversion, analyze your business processes. You may be enticed by the initial improvements that you receive with electronic access, but don’t assume that your work is finished at this point. The real payoffs are associated with business process management (BPM). Enlist the help of a professional if you need to—even when finances are tight, an investment in process analysis will pay huge dividends down the line.

Records management tools are inexorably linked with compliance. Automatic retention and disposition are key elements of a records management strategy. When you are able to automate your retention and destruction schedules, you remove the potential for human error in your compliance initiatives. ECM guarantees that records are not destroyed prematurely and are not kept beyond the time period that is mandated by law. ECM provides the security to ensure that your records are secure and that HIPAA mandates are followed.

Make the most of your investment

A high-performance ECM solution offers the scalability to enrich and grow with your operation, no mater what its current size. For smaller organizations, this means that an affordable system offers you the capability to compete with giants in your industry. As you grow, the software grows with you. Larger organizations can begin an implementation in one department, and roll out a solution to the entire enterprise. Regardless of your size, one way to get the most from your ECM investment is to use the software to simplify your back-office and administrative processes. You can use your ECM solution to process job applications, contracts, credentials, benefit enrollment documents, health awareness communications, personnel files, policy paperwork, and other documents that are associated with human relations. A robust system should be able to integrate with Lawson, SAP, PeopleSoft, and other applications to boost the functionality of your existing investments. In addition to making internal processes more efficient, ECM also eases processing burdens by providing your customers with the option of self service. Forms can be submitted using the Web. Electronic information can then be captured and routed, and customer records can be automatically updated—all without the need for human intervention. In addition to simplifying your processing, offering your customers the opportunity to submit paperwork online increases overall satisfaction and strengthens retention rates. While the advice to work smarter, not harder may seem trite during an economic downturn, the reality is that today’s technology makes it possible.

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The overriding consideration

It goes without saying that you have to implement software that is easy to use. I’ll say it anyway. You can have the best functionality in the world, but if your ECM system is not adopted by your end-users, it is a wasted investment. Look for a system that is easy to use and intuitive. Ideally, it should work behind the scenes so that your users can continue to work within their familiar applications. Regardless of the economic conditions, you have to watch expenditures if you want to stay competitive. If you are thinking that an investment in technology would be cost-prohibitive, consider a consultation with an ECM specialist. A business process analyst can give you an idea of the specific benefits that a transition to ECM can offer your organization. Recognize that the investments that you make now will pay great dividends immediately as well as when the economic pendulum shifts. There is certain to be a high performance ECM solution on the market that can meet your budget. Don’t let the economic conditions of today stand in the way of your profitability tomorrow.

UNCERTAINTY AHEAD

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