Simplify Your Enterprise Content Management Strategy with Inspired ECM, which is a global organization specializing in Oracle WebCenter Suite and the entire Oracle Fusion Middleware platform.
Contact us today to find out how we can help you innovate your business technologies and achieve your goals.
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1. Why Enterprise Content Management Is Essential
for Your Business
An Enterprise Content Management solution helps companies digitise, control,
and automate their unstructured information like packing slips and invoices,
resumes, tax documents, emails, and meeting notes.
An ECM system will capture, read, and index information to increase its
understandability; give staff the ability to edit or annotate information; and
provide comprehensive workflow tools and automation to ensure the right
information ends up in the right hands in a timely manner.
Within this system, documents can be created, managed, processed, and archived
securely and according to compliance regulations.
They can be available to all staff, whether mobile or in-house, and all document
access, changes, and movements are recorded for better organisation and
forensics.
All communication—including that with customers, suppliers, and
subcontractors—is intelligently managed and can be easily retrieved for better
workflows and continual process improvement.
All About ECM
At their simplest, ECMs are multifunctional systems used to catalogue and store
unstructured information for business purposes.
However, there’s a lot that goes into their makeup, function, and benefits that
should be clearly understood in order to discern the true value they bring to the
processes, productivity, and profitability of a business.
Components of an Enterprise Content Management Solution
There are five basic components of enterprise content management: capture,
management, storage, preservation, and delivery.
Components of enterprise content management solution
There are five basic components of enterprise content management: capture,
management, storage, preservation, and delivery.
Capture
2. To capture both digital and print information, an ECM must have both scanning
and optical character recognition (OCR) capabilities.
Some may even employ handprint recognition technology (HCR), a form of
intelligent character recognition (ICR) that allows hand printed text to be easily
interpreted and captured.
This helps automate data entry tasks to reduce human error and allow for the
tracking of large volumes of data.
Management
Management tools will vary according to the requirements of each business.
Typically, they include:
● Tools that allow for content collaboration
● Workflow tools for business process management
● Archive and file management tools to make indexing, retention, and purging
simple
Other tools can include web content management or document management tools.
Storage
There are three basic elements to storage solutions in an enterprise content
management solution:
First; there is a repository to collect files.
Second; a library tool that picks up files that have gone through the capture and
manage sequence.
Finally; the hardware—such as servers, cloud-based storage, optical disks, and
more—that holds files and software for retrieval.
Preservation
As opposed to the short-term repository of the storage component, preservation
provides long-term storage or archiving of critical files.
There are many media choices that can provide appropriate archival, however it’s
important to ensure media types are compatible with evolving technologies for
long-term usage.
Delivery
To be able to shift content to appropriate users throughout your system, you’ll
require middleware that helps move information from application to application.
3. The delivery process can include distribution of media for access by end users
through websites, social media, intranet, or even printed documents.
Security is critical at this part of the process so that unauthorised edits and access
are prohibited as data is moved from place to place.
How ECM Works
The basic ECM process has all five ECM components working in tandem to organise
and disseminate crucial business process information throughout the lifecycle of
the data. In short:
● Data is captured
● Information is published internally or on a company website
● Information is automatically and securely archived
● Old, outdated, or unused information is periodically deleted to save space
To begin using ECM, businesses typically identify each type of content used within
the organisation and assign them to a business process and even particular staff
members.
Then, ECM software targets duplicate content to reduce storage redundancies and
then organises the information in a central repository along with metadata that
allows it to be accessed quickly and efficiently by the people who need it.
These approved users can use full-text searches to locate necessary content that
they can then read, edit, or print.
Users can also use keywords or phrases to search for documents, reducing retrieval
time and increasing productivity.
These simple but powerful tools allow departments—or entire businesses—to:
● Reduce dependency on paper
● Streamline workflows
● Reduce risk
● Increase productivity
● Provide exceptional customer service
Easy access to critical information helps businesses make better decisions,
complete projects faster, and collaborate effortlessly for increased efficiency.
How ECM Benefits Your Business
4. Because an enterprise content management system provides a unified platform for
the dissemination, storage, and management of data, it can help businesses handle
data in a way that meets security and compliance requirements for exceptional risk
management.
Other benefits include:
● Auditing capabilities including check-in/check-out and workflow oversight
● Streamlined access and reduced information bottlenecks through version
control
● Reduced storage, paper, and mailing needs for minimised overhead costs
● Optimised security
● Reduced costs—and the potential for error—through the automation of
manual processes
● Improved customer services through real-time visibility
An ECM’s access to complex tools brings robust functionality to business
processes.
For example, data mining becomes simpler and more accurate through the use of
tools provided by the ECM system that allow parameters and search ranges to be
pinpointed for faster and more accurate searches.
Moving forward, ECM systems continue to evolve and change as they target the
needs of businesses that are seeking increased agility, integration, and competitive
advantage in a rapidly changing world.
As the digital pace increases, ECMs continue to add features and incorporate
evolving technologies such as machine learning and artificial intelligence to
maximise effectiveness.
And businesses—large and small—are reaping the benefits of these systems to
position themselves more solidly in the marketplace.
Where Is Enterprise Content Management Applicable In a
Business?
Most businesses deploy an ECM for specific business processes within their
organisation. Let’s take a look at some common applications of ECM.
Managing contracts
5. If you deal with a lot of contracts, you know that managing them can be a pain, and
an ECM solution can really help with these kinds of workflows.
ECM allows you to make sure contracts are reviewed by the right people at the right
times, using automation to deliver contracts to the necessary stakeholders when
it’s their turn to review or edit the document.
Automating human resources
All stages of recruitment and onboarding can be automated to create a far more
streamlined HR process than before.
Online forms can be used to capture applications, which are then sent to hiring
managers through an automated workflow.
The same principle can be applied to many other aspects of HR, like policy and
procedure management, I-9 compliance, and disaster preparedness (keeping
information protected in the cloud rather than physically filing them) to name a
few.
Automating accounts payable and receivable
AP and AR can be improved significantly with ECM implementation.
AP and AR are two of the most paper-intensive processes within organisations.
How quickly and effectively invoices and billing can be processed will determine
how efficient your operations are in these areas.
With an ECM, AP and AR can be digitised completely, with capture, storage, access,
and management far more streamlined than traditional paper methods.
Takeaways
● An enterprise content management solution will capture, read, and index
information; give staff the ability to edit or annotate; and provide
comprehensive workflow tools and automation.
● There are five basic components of an ECM: capture, management, storage,
preservation, and delivery.
● An enterprise content management system is a solution that helps
businesses handle data in a way that meets security and compliance
requirements for exceptional risk management.
● Other benefits include auditing capabilities, streamlined access and reduced
information, reduced storage, paper, and mailing needs for minimised
overhead costs, optimised security, reduced long-term expenditures
6. Simplify Your Enterprise Content Management Strategy with Inspired ECM, which
is a global organisation specialising in Oracle WebCenter Suite and the entire
Oracle Fusion Middleware platform.
Contact us today to find out how we can help you innovate your business
technologies and achieve your goals.