What is ECM and what are the benefits?

What does the workplace look like? A question that was so simple suddenly has more answers than a Google search. The idea of “the office” has fundamentally shifted, and the result has been greater flexibility and employees operating from a variety of work locations and spaces.

According to the Reshaping Productivity Report, undertaken by The Economist, the flexibility to work from anywhere has improved performance. Yet, it has also raised challenges that industry leaders have never tackled.

CEOs, from finance and healthcare to manufacturing and education, have all encountered similar problems. A lack of tools has led to some professionals struggling to collaborate; while others have been able to work together, security blind spots have been discovered – often by the time it was too late.

As the old adage goes, the best form of defense is offense – business leaders must seize the moment and realize this monumental change is a chance to gain an advantage over their competitors. Key to this will be investments in new technologies. To solve their problems, organizations have been turning their attention to a proven approach that boosts productivity, tightens security, and in the long term, saves money: enterprise content management (ECM).

What is ECM?

Enterprise content management software is, according to Gartner, "used to create, store, distribute, discover, archive and manage unstructured content (such as scanned documents, email, reports, medical images, and office documents) and ultimately analyze usage to enable organizations to deliver relevant content to users where and when they need it.” In short, it helps businesses come to grips with their data securely. However, within these parameters, there is a wide array of solutions that focus on different aspects of document organization.

Here are just some of the benefits of ECM:

• Digitalization made easy: Given the large number of remote and hybrid workers that businesses are currently dealing with, many organizations are looking to move vast amounts of physical files online. This enables users to have access to the files they need regardless of where they work.
• Collaboration on the go: A large number of professionals work flexible hours and from an array of locations. Consequently, it is essential to have the correct tools in place for them to thrive. ECMs can help users work together on files in real-time, they can share documents in an instant, thus speeding up work processes.
  
• Document storage: Data is the lifeblood of businesses, and ECM helps turn huge waves of digital and physical data from a burden into a strength. ECM software stores data in a secure but central platform. Furthermore, the software is encrypted so that only those granted access can view folders. Thus, your team can quickly access their documents and operate safe in the knowledge that their information is secure.
  
• Business growth: With ECM solutions, the possibilities for businesses to grow are endless. They help lay the foundations for smarter, more secure working. Businesses that have already implemented these solutions are leveraging its many benefits.
  

ECM software stores data in a standardized way, meaning users can quickly find the documents, which, as the Tech Republic reports, has been a serious problem for offices across the U.S. Fifty-four percent of professionals cite the time wasted searching for much-needed files in cluttered online filing systems. But now that users can easily find their files, they can complete tasks quicker, thus boosting performance.

Moreover, controlling data and security go hand in hand. If businesses handle data correctly, hackers stand little chance of causing severe damage. A standardized approach means that an ECM takes care of document storage and security, so there’s less chance of documents going missing due to human error. Businesses can rest easy thanks to ECM.

Strong data and security strategies are the basis of success in this new age of work. The long-term costs of keeping data secure cannot be underestimated. IBM details that the financial implications of cyber-crime cost organizations, on average, $4.24 million. Additionally, businesses can begin to plan for a brighter future, partnering with new clients and reaching new heights because these scalable solutions grow with organizations.

The wide variety of ECMs available mean businesses can find a solution tailor-made to their needs. This period of disruption is the perfect time to implement the strategies to future-proof your business, while accelerating your digital transformation.