What happens if you stick with the status quo and do nothing – versus taking a bold step forward and justifying the investment to your organization. Continuing to do business as usual is the path of least resistance, but is that the right thing to do? This final introductory video to enterprise content management (ECM) gives examples from multiple industries on the potential return on investment (ROI) when you implement an ECM solution.
To begin realizing the potential ROI of ECM for your business, you must first evaluate what it currently costs you to do business today. The hard ROI areas from an ECM solution include: paper, storage, employee time, cost of processes, and cash flow.
Paper, Storage, Employee Time, and Cost of Processes
An ECM solution removes paper from your business and electronically stores your information. This allows for the reduction of paper and storage costs. In return, this speeds up business processes and provides employees more time to spend on more important tasks.
Simply put, ECM brings money into your cash flow quicker. Get your money in before you pay your money out. An ECM solution helps lower your Days Sales Outstanding which means more money on hand.
Ask where can ECM help me find the money within the organization…
…instead of where can I find the money for ECM?
In 2011, Gartner ECM Magic Quadrant reported:
“A funny thing happened in the depths of the recent recession. While budgets in many areas of information technology were under extreme pressure, enterprise content management (ECM) spending actually grew, by 5.1% in 2009 and by 7.6% in 2010.”
“Why is all this money being spent on ECM in a down economy? The answer is “productivity.” ECM can drive process efficiency, improve data and process quality, and build better channels to your customers and prospects.”
Doing nothing ends up costing you more than doing something. The ROI of ECM is apparent and positive for your business.