An Enterprise Content Management (ECM) system is a strategic tool for many organizations that want to improve efficiencies and data security and reduce paperwork. Once implemented, most companies experience benefits that reach far beyond the day-to-day process improvements, and they wonder how they ever operated without it. Big or small, your business should strongly consider ECM as a vital part of its strategic initiatives for 2018. Here’s why:
1. Increased Productivity
On average, employees spend 1.8 hours a day searching for information in order to do their job effectively. Imagine the success of your company being able to work an equivalent of six days a week, while continuing to work five. With ECM, that’s a real possibility.
2. Improved Work/Life Balance
Along with spending almost a quarter of their day searching for information, employees that have the right tools to quickly and effectively do their job — like ECM — are less stressed and can spend more time with their families rather than at work. One way to do this is to compare the turnover rate and number of sick days taken prior to implementing ECM with those six months after.
3. Improved Compliance
With every document assigned the same naming conventions and filing patterns, you never have to worry about searching for a crucial document. With ECM, access to documents is limited to those who are specifically granted permission, and for those employees, the ease of finding information within those documents is a breeze.
4. Increased Customer Satisfaction
When employees are able to quickly answer customers’ questions without having to search for paperwork or spend precious time on data entry, there is a greater likelihood of retaining current customers. If your cost of customer acquisition is high, ECM has the added bonus of saving you money by helping to keep current customers satisfied.
5. Expiring Contracts Are No Longer Missed
ECM helps bring attention to any expiring contracts, ensuring you’re able to re-sign customers and keep business steady. Instead of digging through filing cabinets and hundreds of documents looking for one vital sheet of paper, ECM allows quick access to reference the files you need.
6. Consistent Organization
With ECM, all of your documents will automatically be filed and organized. If you choose, every customer order can be processed with the name “Purchase Order [Number] for [Customer].” There’s no need to worry about different naming conventions among employees, or misfiling a document. With ECM, ease of filing isn’t a bonus; it’s a given.
With ECM, you only pay for the users that need access to the system. No more paying for software for every computer in the building when only two departments need it. ECM costs are based on how many users need ECM to efficiently perform their duties. Without requiring space for all those filing cabinets, your business may also benefit from saving space.
8. Exposed Inefficiencies
In the ECM design phase, which usually takes 4–5 weeks, an expert consultant will research your company’s needs and perform a detailed analysis. The goal is to reveal buried inefficiencies or extraneous processes during this ECM planning process and propose a customized solution. If you don’t have an exact idea of the vast number of ways in which your employees name, file and store documents, the proposal process will serve as an eye-opener for just how time-saving and stress-reducing ECM can be.
9. Without It, Your Competitors Have an Advantage
In order to maintain a competitive advantage, your business needs to be aware of the tools your competitors may have access to. If they’re using ECM and you’re still filing papers the old-fashioned way, those filing cabinets are effectively giving that competitor the advantage of speed, efficiency and time savings, in addition to the other benefits noted above.
Technology will only increase in coming years, and your company will need to leverage its capabilities to stay on the leading edge of your industry. If you’re interested in finding out if ECM is right for your business, reach out to the Gordon Flesch Company today for a free, no-obligation consultation.