As companies strive to create order from the chaos that has resulted from the unprecedented amounts of information they produce, enterprise content management (ECM) has become one of the fastest growing areas of IT.
In fact, recent research published by The Radicati Group suggests that the ECM market will grow from $5.1 billion in 2013 to over $9.3 billion in 2017. In addition, Gartner projects an annual growth for ECM solutions of 11.5% through 2015.
The ROI of ECM
Why is the ECM market poised for continued strong growth? Because of its proven ability to reduce costs, improve operational efficiencies and address crucial compliance requirements— while simultaneously providing a solid ROI. In fact, the increase in efficiency and productivity and the operational cost reductions more than offset the cost of a well-implemented ECM system. But don’t take our word for it — here’s what other organizations who have studied the ROI of ECM have to say:
- ECM applications return $6.12 per dollar invested (Nucleus Research)
- ECM users post a 57% payback in 18 months or less (AIIM)
- ECM adoptees experience more than a 400% ROI within five years (IDC)
Addressing Content Chaos
According to AIIM’s 2011 ECM Survey, content chaos resulting from an inability to effectively manage unstructured data (e.g., emails, documents, etc.) is a significant problem for many organizations and is a primary driver for deploying an ECM solution. This AIIM Survey also revealed:
- 60% of new ECM users cite content chaos as the trigger for adopting an ECM system.
- 56% of organizations are not confident that “emails related to documenting commitments and obligations made by their staff are recorded, complete and retrievable.”
- 41% of organizations are not confident that their electronic information (excluding emails) is “accurate, accessible and trustworthy.”
Driven by the need to control exponentially increasing amounts of information that resides across the enterprise, many organizations are looking to create order among content chaos by leveraging ECM and document management solutions. An effective ECM solution will reduce the time, cost and complexity associated with storing, locating and collaborating on documents and data throughout the information life cycle.
In the new M-Files white paper, The Business Case for Enterprise Content Management: A Collection of ECM and Document Management Research Data, we provide unbiased, fact-based information published by trusted and well-respected organizations about the positive impact an ECM system can have on a company.