When working with ECM (Enterprise Content Management) Software we hear a lot of folks in the industry try to explain what our ECM team does. Spoiler Alert: It is rarely correct. This ranges from people giving tours to sales reps to customers that have been using it for years! Our personal favorite is “This is our ECM team; they work on document management.” Cringe. Yes, our software is designed to better manage documents, but there is so much more that it can do that most just aren’t aware of and the document management part is just an additional perk.
Let’s take Accounts Payable as an example, if all ECM could do for you was store the documents to be easily retrieved later, you would look at the price tag and say something along the lines of “whoop-dee-doo”. But add in the fact that ECM software can streamline the process and perform an automatic 3-way match, send an Invoice to be approved, with a handy email notification to let the approver know something needs to be approved, send it on for check processing and perform an automatic invoice to check match and mark the invoice as paid and all of a sudden that “whoop-dee-doo” turns into “wow!”. The time savings can be astronomical and the ROI on most ECM software is realized within the first year of implementation.
The possibilities with ECM software are virtually limitless. A major company has a laborious HR On-Boarding process? ECM can fix that! Purchase Requisitions get lost and go months without approval? ECM can fix that! Managing Vendors is becoming too much as your company continues to grow? You guessed it, ECM can fix that! ECM even has a place in Government with Agenda Management. If you have a paper process, there’s a good chance that ECM can streamline it and make it faster and more efficient.
So the next time you think of ECM, please don’t think “Oh, that’s just document management”. Think, “Oh that’s a culture changer, an efficiency machine, a money saver, etc.”
Oh, and it can manage your documents too.