Managing organizations’ content and streamlining processes is becoming a must in any organization seeking to reduce cost, becoming more efficient, and increase productivity. Having an ECM system in your organization has a lot of benefits as published in my previous post – Why use ECM.
Being a core element in the digital transformation, the future of ECM is promising and solution providers are investing in topics like AI, machine learning, analytics, etc. to make it easier for organizations to make use of their most valuable asset – Information.
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1- Market Size
Enterprise Content Management Market Size USD 76.84 Billion by Forecast to 2023Tweet
The market is driven by the growing volume of unstructured data and the automation of internal and external business processes as part of a larger digital transformation initiatives.
2- Data Volume Forecast
By 2020, the global amount of data created daily will reach 44 trillion gigabytes and most of these data will be unstructured.Tweet
From the above statistics, organizations can’t continue managing their information the old fashioned way. They need intelligent systems to help them manage and search for content easily.
3- Information Storage
The most likely company information repositories are EMAIL, SHARED NETWORK DRIVES AND FOLDERS, and INFORMATION SAVED LOCALLY TO DESKTOP OR LAPTOP. (source: m-Files)Tweet
Using an ECM system makes it easily to find the right information at the right time and in the right place.
Employees might search up to 4 systems to find needed information.Tweet
Having an ECM system with the proper implementation will make it very easy for employees to locate their needed documents.
5- High Cost Searching for Information
According to an IDC study, up to 30% of a single workday is spent searching for information (source: AIIM)Tweet
This waste of time amounts for a total loss of 21 % in the organization’s total productivity.
Using an ECM system to centralize all the enterprise information in one single repository will make sure that locating information is fast.
6- Digital Transformation
79% of organizations feel that Digital Transformation is important to the future of their organization. (source: AIIM)Tweet
8 in 10 say they need to access corporate documents on their mobile device (source: AIIM)Tweet