Enterprise
content management (ECM) enables organizations to store, share, archive,
and structure the content. ECM allows organizations to access data/content from
a centralized repository via multiple platforms and distribute the data to
users whenever required. ECM encompasses wide range of tools that include
workflow process management, digital asset management, document management,
digital rights management, records management, web content management. ECM
reduces the workload of different departments of an organization in maintaining
and processing the complex workflow, thus ensuring increased operational
efficiency and better customer experience. Furthermore, securing the stored
content and integration of content with business intelligence and business
analytics applications are other features that have attracted organizations to
consider the ECM solutions in recent years. The stringent compliance
requirements mandated by governments in many countries has created a necessity
to maintain all the important documents for internal and external audits. ECM
has generated a cost effective management solution to keep track of all these
necessary documents and facilitate the auditing processes.
The
exponential rise in digital content with the proliferation of online marketing
and online customer relationship has created the need for highly efficient
tools for data management. This is one of the major factors driving the growth
of ECM market. Furthermore, the continuous growth of e-commerce is increasing
the need for portals to create meaningful content to target their customers in
a short time. ECM best fits to the needs of portals for creating and sharing
the structured content online, enabling online portals to reach their target
audience in minimum possible time. E-commerce has thus generated tremendous
demand for ECM to manage, create, store, and distribute digital content via
online channels. The cloud-based solutions have gained traction from
organizations to deploy ECM solutions over cloud, considering the benefits of
reduced overhead costs of dedicated IT teams for maintaining the ECM solutions.
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Even
though ECM solutions have seen high level adoption by large scale enterprises,
the implementation is comparatively low in small and medium enterprises (SMEs),
owing to high initial costs of implementation and lack of knowledge to
implement the right solution for their specific needs. Tapping the potential
opportunities at SMEs and capitalizing on rapidly growing popularity of cloud
integration is expected to be beneficial for vendors in coming years. Moreover,
there is an untapped market opportunities in developing countries, which pose
high growth prospects for ECM due to industrial evolution and rise in IT sector
in these regions.
ECM is
predominant in mature markets such as North America and Europe, owing to fast
adoption of technology in the regions and organization’s preference for optimal
workflow. The ECM solutions cater to the demands from various industry
verticals that include healthcare, manufacturing, media and entertainment, IT
and telecom, retail, banking insurance and finance, hospitality. ECM solutions
can be deployed on-premise or cloud-based, depending on the organization’s
needs and preference.
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